Brothers' Toy Emporiums Fall under Thalia's Control: A New Chapter Unfolds
Thalia seizes control of numerous toy retailers.
In the face of growing supremacy of online retail, the book-retailing titan, Thalia, is snatching up two toy chains—Krömer and Toysino—in Deutschland, beginning from October 1st. All stores and jobs will remain intact, as announced by Thalia. The Krömer siblings, Christian and Daniel, will form a new toy-retail division within the Thalia group as well. The monetary specifics of the deal have been kept under wraps.
Thalia will be acquiring 18 Krömer stores in Bavaria and 21 Toysino branches throughout the nation. Pending the approval of the relevant antitrust authorities, the acquisition is set to go through. Thalia currently operates 394 bookstores in Germany and Austria, with an online shop alongside numerous bookstores of the Orell Fuessli Thalia AG in Switzerland.
Thalia's CEO, Ingo Kretzschmar, shed light on the move, stating that the chain aims to bolster its growth in the toy sector. Over the years, Thalia has been expanding its toy collection within its own stores and online. However, this acquisition is more than just a business strategy; it's a "social statement" in a world witnessing the withdrawal of many traditional toy stores from city centers. Thalia plans to "actively counteract this development and remain present within urban spaces with captivating establishments."
Christian Kroemer expressed his enthusiasm for the collaboration, stating that the shared vision of growth, combined strengths, and leverage of both entities was the primary reason for the sale to Thalia. "We wholeheartedly believe that the integration of our toy expertise and Thalia's infrastructure will result in tangible benefits for our customers and offer a secure future perspective for our teams."
Krömer, a toymaker's paradise, kicked off its journey in Schrobenhausen in August 1984 under the leadership of Sylvia and Jurgen Kroemer. The firm experienced further growth with a second specialty store in Aichach in 2000, and Jurgen Kroemer eventually introduced his sons, Christian and Daniel Kroemer, to the business. The sons took over ownership and management of Toysino GmbH in 2023 when it absorbed the stationary business of Mytoys.de.
Source: ntv.de, mpa/AFP
- Book Trade
- Toys
- Germany
- Mergers & Acquisitions
Behind the Scenes:
- A New Realm: Thalia's acquisition signifies a stepping stone into the toy retail sector, marking a strategic expansion from its traditional book retailing business.
- Securing Jobs and Preserving Local Retail: By committing to maintain all existing jobs in the acquired stores, Thalia demonstrates social responsibility and public-friendly intentions.
- Urban Revitalization: By preserving toy stores in city centers and towns, Thalia counters the trend of closures experienced by traditional toy retailers. This move bolsters retail diversity and boosts economic activity in urban spaces.
- Community Boost: Keeping physical stores open supports local economies and cultural shopping experiences, generating jobs and attracting families and children, potentially encouraging spending in other local establishments.
- A Beacon of Hope for City Centers: Thalia's expansion into toy retail might serve as a positive signal for struggling city centers, representing investment and confidence in the enduring significance of physical stores as community hubs.
Community policy of Thalia is expected to extend to the newly acquired toy retail chains, Krömer and Toysino, following its takeover. The employment policy is expected to remain consistent across all stores, ensuring the continued presence of these retail establishments in the industry, particularly within the finance sector of retail businesses.
Furthermore, this acquisition represents an expansion of Thalia's business ventures, venturing into the toy sector from its traditional book retailing, aiming to grow and counteract the trend of traditional toy stores withdrawing from urban spaces.
