Latest news with #ImportsDragon
CTV News
09-05-2025
- Business
- CTV News
‘Canadians relate to it as their brand': Gamers get another play at EB Games as part of acquisition deal
Canadian gamers are having déjà vu as a beloved brand returns to the gaming retail landscape under new leadership. GameStop Canada announced Monday that it's been acquired by Quebec entrepreneur Stephan Tetrault and will be relaunching all 185 stores under its original brand—EB Games Canada. The deal comes less than three months after U.S.-based GameStop Corp. announced its intention to sell its Canadian operations – though no details about the price tag or list of potential buyers have been shared. Tetrault, whose toy business portfolio includes Imports Dragon, McFarlane Toys and – as of last month – Mastermind Toys, says he's taking the helm with the goal of bringing back something Canadians truly loved. 'We're going to build something special here, with community, nostalgia, and innovation at its heart,' Tetrault said in Monday's release. The company, originally launched as Electronics Boutique Canada in 1993, is hoping to ride the wave of Canadian nationalism taking shape in response to U.S. President Donald Trump's threats of tariffs and annexation. 'We are proudly Canadian and we are Canadian owned and the climate is such that it makes sense to lean into that,' Jim Tyo, GameStop Canada's president, told CTV News. 'For 21 years it has been the EB Games brand and I think Canadians relate to it as their brand and the return seems logical with this fresh start.' The rebrand is also an opportunity for the company to move away from the negativity surrounding GameStop's meme coin craze, which happened the same year EB Games Canada's name was changed to match its parent company. In early 2021, GameStop's price jumped from $20 to $500 in a matter of weeks, as thousands of everyday investors banded together online to buy shares and squeeze hedge funds that were betting against it. The saga cost big investors billions, sparked outrage as trading apps briefly blocked purchases, and raised questions about market fairness. It also inspired the 2022 Hulu documentary 'GameStop: Rise of the Players' and the 2023 movie 'Dumb Money.' 'This is a great opportunity to breathe some life back into a failing business that probably wasn't doing well and reenergize what the brand was about,' says Sub Nijar, the chief strategy officer of the Vancouver marketing agency Cossette. He's offering some advice - free of charge - to the next generation of EB Games Canada. 'Go back and really look at what drove Canadians towards the brand,' says Nijar. 'If you say 'Hey we're back' but don't change the business model or change the experience customers had, then it's really easy to fall short on expectations – especially with this nostalgia and Canadian pride.' In a digital age that saw GameStop close 1,000 stores worldwide in 2024 – including 11 in Canada – there's hope EB Games will preserve the in-store experience. 'There is, especially in video games, a level of enthusiasm around the physical product that you don't see in other mediums,' says Paul Fogolin, vice-president of the Entertainment Software Association of Canada. 'I think a store like EB Games goes above and beyond to create experiences beyond just purchasing the game itself.' Tyo says the company is still very much committed to maintaining its brick-and-mortar stores, while also looking to invest in technology that will enhance the experience of customers—including a delivery system for the unique inventory spread out across the chain. The name relaunch is expected to take six months, though EB Games is already live online, as the company takes one step back to move its legacy forward.
CBC
06-05-2025
- Business
- CBC
GameStop Canada to be rebranded EB Games after acquisition by Quebec toymaker
GameStop Canada says it has been acquired by French-Canadian entrepreneur Stephan Tetrault from the video game retailer's struggling parent company. Officially named Electronics Boutique Canada Inc., GameStop Canada says it will relaunch its 185 stores as EB Games Canada — a name associated with retail gaming from bygone decades. Tetrault is the founder of Boisbriand, Que.,-based toy manufacturer Imports Dragon and co-owner of American action figure-maker McFarlane Toys, and last month became a partner at Canadian chain Mastermind Toys. U.S.-based GameStop Corp. said in February it was looking to sell its Canadian and French operations as it evaluates its international assets and doubles down on cost-cutting. GameStop was one of the companies at the centre of the "meme stock" craze on Wall Street, which saw struggling brands' share prices soar as retail investors made risky bets. Its sales last year declined 27 per cent to $3.82 billion, though net income shot up to $131.3 million versus $6.7 million in 2023.
The Verge
05-05-2025
- Business
- The Verge
May 5, 2025 at 5:44 PM EDT
GameStop sold its Canadian division. Stephan Tetrault, the owner of Canada-based toymaker and distributor Imports Dragon, has acquired GameStop Canada and will relaunch it as 'EB Games Canada,' according to a press release. GameStop CEO Ryan Cohen publicly called for interested buyers on X in February.
