KB Toys has acquired additional assets of eToys, including the URL, logos, trade names and trademarks for $3.35 million as part of eToys’ bankruptcy proceedings. eToys also has agreed to contact its customers via e-mail directing them to KBKids.com for toy buying.
On April 26, KB Toys paid $5.4 million for eToys` inventory, which has a retail value of more than $40 million. "In four short years, eToys built the most visible and operationally sound online retail toy site in the world," said Michael L. Glazer, KB Toys` CEO. "KBkids.com has enjoyed its own success providing customers with exceptional customer service and fulfillment. We will use these new assets to further enhance the customer convenience of shopping through KBkids.com."
KB Toys operates more than 1,300 mall-based stores. KB Toys became a privately held company in December through a management buyout in partnership with Bain Capital Inc.
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