The founder of Gameseek, Stephen Staley has set up a new toy retail business just three months after his last company went into administration. Gameseek had been well-established for a number of years, but fell victim to the growing preference consumers have towards purchasing games digitally.
The new retailer is called Toyseek. The company specialise in children’s toys and entertainment primarily, however the website also lists video games with 18+ ratings. The full range of products on offer include toys, video games, fancy dress, and arts and crafts materials.
Staley told press in a release about the new company that there are already over 100,000 products listed on the website, which is set to increase to over 1 million by 2019. He includes that Gameseek was built from an investment of £53, which some believe has been included to alleviate the lack of compensation received by those involved in the administration of the company.
Toyseek aims to fill the gap left by the closure of Toys R Us. Previously parents would go to their local Toys R Us store with children in order to purchase whatever toys they needed, but the lack of convenience and growing online market forced the company to close. Toyseek don’t have physical premises but are able to offer parents the same products all in one place, without the need to go trawling through the websites of supermarkets in order to find the correct category.
Gameseek became known for its experimental marketing campaigns, in which specific numbers of customers were offered extremely low prices. Their PR campaigns tied into this and furthered the edgy image that the company developed in later years.
The administration of Gameseek happened quietly and quickly, with many consumers out of pocket and waiting for goods that would never arrive. Staley has said that he will be able to speak about the process very soon, reaffirming that it was a shock to everyone, him included.
It will be interesting to know more details about what exactly finished Gameseek off. The company had been running for many years and outlived a number of competitors. Whether or not the administration was caused by a poor investment or slump in the market remains to be seen.