Pittsfield, Mass.-based KB Toys, which bought
the remaining inventory from the bankrupt eToys in April, said today that
it is spending another $3.35 million “for certain eToys intellectual property
assets and services.”
Privately held KB says it is the nation’s largest combined mall-based and
online specialty toy retailer.
The assets purchased today include eToys’ trade names, logos, URLs and
trademarks. eToys also has agreed to provide certain e-mail services for KB
Toys, including contacting its customers with information about how they can
continue their online toy shopping via KBkids.com.
KB Toys said it will integrate the acquired assets into its Denver-based
KBkids.com operation.
“We will use these new assets to further enhance the customer convenience of
shopping through KBkids.com,” said Michael L. Glazer, KB Toys’ CEO. “We have
maintained all along that the ‘bricks and clicks’ formula, which offers
customers both store and online shopping options, would allow customers the
most flexibility and be the most successful in the long term.”
KB Toys went private in December 2000 through a management buyout in
partnership with Bain Capital Inc.
eToys, which once had a $10 billion market valuation, filed
for bankruptcy on March 7. eToys has been selling off its assets to help
satisfy shareholder claims and creditors.
