It Might Be The Giraffe’s Fault After All
Over the weekend I caught a really unusual article written by an Inc.com guest author. It’s the story of the bankruptcy and shuttering of Toys R Us, as told from the perspective that their lovable mascot Geoffrey the Giraffe might actually be to blame for the company’s demise.
The author takes us down a tongue-and-cheek road comparing Geoffrey’s lack of productivity and distractive nature as TRU’s real problem, especially compared to the more streamlined Walmart smiley face and Target bullseye. Mixed into the Geoffrey bashing are the real causes for TRU’s closure – an LBO in 2015 which saddled the company with $5B in debt, pricing pressure from mass merch competitors who carry many of the same toys, and of course the shift to eCommerce.
So no, Geoffrey the Giraffe didn’t kill Toys R Us. He and his coworkers fell victim ”to a quickly advancing and globalizing business world with rapidly progressing technology, and changing preferences and buying habits of new digital generations.” But blaming the giraffe just makes for a better read all day long. 🙂