Thalia's Expansion into Toy Retail: A Growth Strategy and Community Statement
Thalia expands control to numerous toy retail outlets
In a nod to the brick-and-mortar retail scene, book retailer Thalia is seizing the opportunity to buy up 39 toy stores from two separate chains, Kroemer and Toysino, across Germany - starting October 1st. This move marks more than just a business decision; it's a clear message and a commitment to keeping city centers bustling, as Thalia takes on the reinvention of traditional toy stores in the digital age.
Thalia plans to integrate the 18 Kroemer stores in Bavaria along with 21 branches of Toysino nationwide, paving the way for growth in the toy segment. The antitrust authorities are set to weigh-in, but the deal is looking promising, with Thalia heading into this acquisition with a strong portfolio, boasting over 394 bookstores across Germany and Austria, and a robust online shop, in addition to its stake in around 60 bookstores in Switzerland.
Thalia's CEO, Ingo Kretzschmar, acknowledges the strategic expansion and reveals Thalia's aim to reign supreme in the toy industry, having already enhanced the toy offerings in their stores and online platforms in recent years. Kretzschmar emphasizes that this acquisition serves not only as a strategic move but also as a social signal. In an era where classic toy stores are increasingly vacating city centers, Thalia is joining forces to "actively counteract this development and remain present in the urban space with attractive stores as anchor points."
Christian Kroemer, one of the selling owners, explains that the partnership with Thalia was sealed by the vision of joint growth and the potential power of collaboration between the businesses. Kroemer believes that the synergy between Thalia's infrastructure and Kroemer's toy expertise will bring about tangible benefits for customers and secure the future of the dedicated teams.
Looking back, Kroemer's toy empire was founded in Schrobenhausen in August 1984 by Sylvia and Jurgen Kroemer. The brand expanded rapidly, with a second store opening in Aichach in 2000, and the Krömer siblings joining the family business to speed up the succession process. The recent acquisition underscores the Kroemer brothers' continued commitment to the toy retail industry, as they take on leadership roles within Thalia's new toy retail segment.
In essence, Thalia's acquisition of these toy stores signifies a strategic move that combines business growth with social responsibility. By preserving jobs, supporting local communities, and engaging in cultural preservation efforts, Thalia is making a positive impact in the communities it serves while enhancing its market position.
Thalia's community statement is evident in its strategic acquisition of toy stores, aiming to counteract the vacancy of classic toy stores in city centers and maintain a presence with attractive stores as anchor points. This move, part of the expansion into the toy retail segment, also includes employment opportunities as Thalia integrates the Kroemer and Toysino stores, potentially impacting finance and business growth within these communities.
