Toysino GmbH to acquire Mytoys.de GmbH OTC retail business
With effect from 01 October 2023, Toysino GmbH will acquire the Mytoys.de GmbH over-the-counter retail business. The respective parties have signed a corresponding acquisition agreement; the acquisition price is to remain confidential. Toysino GmbH, headed by its two Managing Directors Christian and Daniel Krömer, intends to uphold the existing employment contracts of the approximately 160 employees in the 19 Mytoys high-street stores.
The high-street stores will soon be rebranded to 'Toysino', latest by the end of February 2024. The Otto Group announced in March 2023 that it would wind up commercial operations at Mytoys.de GmbH by the end of the 2023/24 financial year.
Sebastian Klauke, Member of the Otto Group Executive Board, E-Commerce, Technology, Business Intelligence, and Corporate Ventures, comments: "Negotiations with the acquiring party were very constructive and characterised by mutual trust. I am delighted that Toysino GmbH is taking over the Mytoys OTC business and offering all existing store employees excellent prospects."
Toysino GmbH was founded by Christian and Daniel Krömer, who are also Managing Directors of Spielwaren Krömer GmbH & Co. KG. The latter operates 19 specialist stores for toys and gift items in Bavaria.
Christian Krömer, Managing Director Toysino GmbH: "With our expertise in the toy segment, the acquisition of the Mytoys OTC business gives us a unique opportunity to make a broad consumer base aware of the Toysino brand very rapidly. This move also enables us to establish it in the market and maintain the key assortment of toys in many German cities. Our desire is to give the store employees a new professional home. I am convinced that together we will lead the rebranded Toysino high-street stores into a sustainably successful future."
Independently of the divestment of its OTC retail business, the Mytoys brand is to be given a fresh and attractive online presence at otto.de in future, as already announced by the Otto Group.
More Information
Media Contact
Otto Group
Martin Zander
+49 40 6461 2820
martin.zander@ottogroup.com
Thomas Voigt
+49 40 6461 4010
thomas.voigt@ottogroup.com
Toysino
Mariella Treml
+49 0151 50 97 39 39
presse@toysino.de
About Toysino GmbH
Toysino GmbH, under the executive management of the brothers Christian and Daniel Krömer, is a Limited Liability Company based in Schrobenhausen, Germany. The Krömer brothers grew up in the toy industry and have managed Spielwaren Krömer GmbH & Co. KG since 2004 and 2005 respectively. The business has progressively developed from a single company into a retail chain with 19 over-the-counter stores operating alongside a successful online retail business. The Toysino GmbH assortment includes a wide range of well-known toy brands, books, school supplies, party items, baby items and children's clothing.
About Otto Group
Founded in Germany in 1949, today the Otto Group is a globally active retail and services group with around 41,000 employees in 30 major company groups primarily active in the economic regions of Germany, the rest of Europe, and the USA. Its business activities span the Platforms, Brand Concepts, Retailers, Services and Financial Services segments. In the 2022/23 financial year (to 28 February) the Otto Group generated revenues of 16.2 billion euros. With online revenues of approximately 12 billion euros, the Otto Group is one of the world’s largest online retailers. The Group’s particular strength is the broad market presence of its differentiated product assortments and service offers to diverse customer target groups in the world’s relevant economic regions. Numerous strategic partnerships and joint ventures provide the Otto Group with excellent opportunities to transfer know-how and leverage areas of synergy potential. Group companies demonstrate a high degree of corporate responsibility and willingness to collaborate with one another; at the same time this guarantees flexibility, customer proximity and optimal target-group appeal in their respective national markets.