The Hamburg-based Otto Group has sold the 19 stores of its toy subsidiary Mytoys to its Bavarian-based competitor Toysino. “Toysino GmbH, headed by the two managing directors Christian and Daniel Krömer, would like to continue employing the approximately 160 employees in the 19 Mytoys branches with their existing employment contracts,” Otto said on Tuesday. The shops are to be switched to the Toysino brand name by the end of February 2024 at the latest.
The Otto Group announced in March that the business operations of the toy platform Mytoys.de would be discontinued at the end of the 2023/24 financial year. In the future, the Mytoys brand will only be offered on the Otto platform. At that time it was said that a reconciliation of interests should be negotiated and a social plan drawn up for the approximately 800 employees affected in the Mytoys administration in Berlin and the 19 stationary shops.
“I am very pleased that Toysino GmbH is taking over the stationary business from Mytoys and is giving all employees in the branches excellent future prospects,” said Otto’s e-commerce board member Sebastian Klauke. It was agreed not to disclose the purchase price.
According to the information, Toysino GmbH was founded by Christian and Daniel Krömer. You are also the managing director of Spielwaren Krömer GmbH & Co. KG, which operates 19 specialist shops for toys and gifts in Bavaria. “The takeover of the Mytoys stationary business, coupled with our expertise in the toy segment, gives us the unique opportunity to make the “Toysino” brand known to a wide audience very quickly, to establish it in the market and to expand the important range of toys in many German cities received,” said Christian Krömer according to the announcement. “We want to give the employees a new professional home.” (dpa)