Despite earlier plans to retain the name Maxi Toys for its Belgian stores, King Jouet will now put its own branding on all 22 stores. The French group invests ten million euros in recharging its Belgian branch.
Following the Swiss example
When King Jouet took over the ailing Maxi Toys stores for 2.5 million euros in 2020, the brand name was to remain. However, that is about to change now, as the French owner is investing 1.7 million euros into a major rebranding operation (equivalent to some 80,000 euros per store). Additionally, the group will provide 6.5 to 8.5 million euros of cash flow for a year of new stock.
King Jouet acknowledges that “each market has its specific characteristics and the brand is not yet very well known in Belgium”, but still prefers the clout of the international group name. It had already managed to change the name in France and Switzerland, so it should also be possible in Belgium, the group reasons.
The positioning will be different from that of Maxi Toys, aiming for international brands and mid- to high-end products. This way, King Jouet aims for annual sales growth between 5 and 10 %. Over the next three years, the formula also aims to open one or two new shops a year to increase market share. One new opening is already planned for 2024.
