New CEO Revives Canada’s Iconic Toy Store Brand with Bold Strategy

Mastermind Toys, a beloved Canadian toy store, is experiencing a revival under the leadership of CEO John Bayliss. Hired in May 2023, Bayliss is focused on revitalizing this iconic brand, leveraging its unique strengths amidst fierce competition.

Background of Mastermind Toys

Founded in 1984 in Toronto by brothers Andy and Jon Levy, Mastermind initially started as an educational computer store. The company transitioned into the toy industry, becoming known for exclusive products and its knowledgeable staff, referred to as “Play Experts.” These experts assist customers in choosing the perfect toys, providing a personalized shopping experience.

Challenges Leading to Restructuring

The pandemic dealt a blow to in-store retail, forcing Mastermind to compete against major online retailers and big-box stores. As a result, the company filed for creditor protection in November 2023. In December, it was acquired by Unity Acquisitions Inc., led by prominent Canadian retail figures Joe Mimran, Frank Rocchetti, and David Lui. The acquisition saw the store count reduced from 66 to 47.

Strategic Vision for Growth

Bayliss aims to rebuild the brand’s presence and focus on community engagement. His strategy includes:

• Opening new locations, including a flagship store in Montreal.
• Acquiring local businesses like Quebec-based Coco Village.
• Enhancing the online shopping experience.
• Implementing a franchising model to expand community-focused ownership.

Revamping Brand Identity

Bayliss emphasizes that the key to Mastermind’s success lies in its distinct attributes. “We’re concentrating on people, expertise, and local connections,” he stated. The company intends to curate one-third of its products as exclusive items, another third from specialty brands, and the remainder from well-known toy manufacturers.

Current Business Status

Since the restructuring, Mastermind has expanded to 49 stores across Canada, seeing double-digit sales growth. The focus on community involvement, including hosting events and activities, has strengthened its ties to customers.

Advice for Finding the Right Toy

Bayliss advocates for understanding children’s unique interests when gifting toys. He suggests considering their hobbies—whether they enjoy science, animals, or arts—and finding toys that spark their imagination. This, he believes, helps children engage meaningfully, moving away from screens.

The Future of Mastermind Toys

Under Bayliss, Mastermind Toys is positioning itself as a leader in specialty retail, aiming to meet the needs of Canadian families. The company is committed to delivering a unique shopping experience that is rooted in community values, setting it apart from big box retailers.