Toy Kingdom announced this week that it has concluded the acquisition of local company Intencity Entertainment (Pty) Ltd, along with the South African franchise rights to U.S. based Build-A- Bear Workshop. The purchase was made official as of 15th April 2016 and involves taking ownership of three existing franchised Build-A- Bear Workshop stores in South Africa, as well as two shop-in- shops inside Toy Kingdom’s flagship outlets.
Build-A- Bear Workshop has stores in 16 countries with over 400 company-owned and franchised locations worldwide that offer a customised interactive stuffed animal retail-entertainment experience for boys and girls of all ages. Since the company’s opening in 1997, Build-A- Bear Workshop has sold more than 150 million furry friends, has nearly 4 million loyalty club members, more than 2.4 million Facebook followers, and has firmly established itself as a brand that parents trust and children love.
Given the huge international success of Build-A- Bear Workshop, Toy Kingdom identified the opportunity to re-instate the global brand in the local market. “The Build-A- Bear Workshop concept is a great fit for Toy Kingdom, which enables us to expand on our interactive offering to include a high quality international brand. Our aim is to re-establish the local Build-A- Bear Workshop brand through integration into our current store footprint so that we can offer customers a one-of- a-kind experience” says David Tredinnick, CEO of Toy Kingdom.
Build-A- Bear Workshop President and Chief Executive Officer, Sharon Price John commented, “We are pleased to expand our relationship with Toy Kingdom, who is already an established leader in South African retail, and are confident that they will deliver the high quality experience that represents our brand around the world. We believe that their acquisition provides a platform for Build-A- Bear to grow and reach even more consumers in the future.”
Over time the look and feel of Build-A- Bear Workshop will undergo an impressive refresh to fall in line with international standards, and consumers can also expect brand new ranges of teddy bears, bunnies, dogs and other plush to make, dress and accessorise.