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Doug Putman

Douglas Robert Putman (born March 1984) is a Canadian entrepreneur and investor best known for acquiring and revitalizing distressed retail brands across and . Born in , and raised in nearby Ancaster, Putman grew up in a modest family environment and launched his first business venture at age 16 by operating fruit-and-vegetable stands in the Hamilton area. After briefly enrolling in a business program at , where he dropped out during his first year, Putman joined his family's toy distribution company, Everest Toys—founded by his father Bob Putman—starting in warehouse and sales roles that secured major accounts with retailers like Toys "R" Us and . In 2014, Putman acquired the existing Sunrise Records chain, which had five locations. In 2017, he expanded it by acquiring the leases for 70 former Canada stores, transforming the chain into a successful music retailer focused on vinyl records and expanding it to over 85 locations across . He extended this turnaround expertise internationally in 2018 by purchasing UK from administrators for £1 million (approximately C$1.75 million), rescuing the iconic British music retailer and reopening its flagship store while growing it to over 100 outlets. Putman established Putman Investments in 2020 as the for his growing portfolio, which has since included high-profile acquisitions such as Toys "R" Us (acquired in 2021 with 81 locations and over 5,000 employees; as of November 2025, operating approximately 80 stores), the U.S. entertainment retailer FYE (purchased for US$10 million), and the tea chain T. Kettle (launched in former David's Tea storefronts). More recent expansions encompass the January 2025 acquisition of the Canadian apparel brand Northern Reflections from its previous owners, aiming to leverage its heritage and customer loyalty, as well as the May 2025 launch of Putman Publishing, a new imprint focused on music-related titles headed by industry veteran Pete Selby. Through these ventures, Putman Investments oversees operations that employ more than 20,000 people and generate billions in annual revenue, with a strategic emphasis on experiential , like , and adapting legacy brands to modern consumer trends. However, the portfolio has faced challenges, including the September 2025 placement of Everest Toys into amid broader financial pressures on the Putman Group's operations.

Early life and education

Childhood and family background

Douglas Robert Putman was born on March 25, 1984, in the area of , . He grew up in Ancaster and Dundas, communities within the greater Hamilton region, in a middle-class household shaped by his parents' entrepreneurial pursuits. Putman's father, Bob Putman, was a longtime employee at , a major steel manufacturer, before leaving his job in the early to start Everest Toys, a family-run initially operated from their home basement that focused on trading cards and . This venture provided Putman with early exposure to small-scale operations as the company grew into a significant during his childhood. His mother's involvement in the further embedded family discussions of commerce and operations into daily life, fostering an environment where concepts were normalized from a young age. The local influences of the area, known for its industrial heritage and community-oriented suburbs, played a role in Putman's formative years. He attended Dundas District High School, navigating a typical suburban upbringing amid the region's economic transitions from to diverse small businesses. This setting, combined with his family's hands-on approach to , laid the groundwork for his later interest in without formal early training.

Education and early interests

Putman attended Dundas District High School in , graduating in 2002. After high school, he enrolled in a business program at in , at the age of 18. Finding the structured academic setting unappealing and preferring practical learning, Putman dropped out after his first year at age 19 to join and contribute to his family's business. From a young age, Putman showed entrepreneurial inclinations, launching his first venture at 16 by organizing fruit-and-vegetable stands in with friends after obtaining his driver's license. His early interests centered on , , and , influenced by his family's involvement in toy and his own enthusiasm for consumer-facing es. Putman honed self-taught business skills through hands-on roles in sales and warehouse operations at his family's company, Everest Toys, which his father had founded in the early . In the early , following his departure from , he took over key responsibilities and began expanding the family toy distribution business, transitioning fully into entrepreneurship.

Business career

Canadian retail beginnings

Doug Putman began his professional journey in during his teenage years in , where, at age 16 around 2000, he launched a series of fruit-and-vegetable stands with friends, quickly scaling the operation to five locations and gaining early insights into cash flow and customer service. After dropping out of at in his first year, Putman joined the at age 18 in 2002, initially working in the before transitioning to roles. The foundation of Putman's toy sector involvement was Everest Toys, a distribution company founded by his father, Bob Putman, a former steelworker, in 1992—with an initial investment of $50,000 raised by remortgaging the family home. Under Doug's , starting as at age 23 in 2007, Everest Toys expanded significantly in the early and beyond, growing from a small five-person operation into Canada's largest toys and games distributor by the 2010s, securing major accounts with retailers such as Toys "R" Us, , and through a focus on efficient and broad market reach. By the mid-2010s, the company had evolved into a nine-figure enterprise, distributing products from leading manufacturers like and to diverse non-toy retailers across and the . Putman's entry into music retail came in October 2014, when he acquired , a small chain of five stores in , from owner Perlman, at a time when physical music sales were declining due to digital streaming. He rebranded and revitalized the operations, launching an expanded with 10 locations by focusing on niche offerings like vinyl records and collectibles to attract dedicated customers. This move marked Putman's first direct foray into brick-and-mortar music , building on his toy distribution experience. From the outset, Putman's business philosophy centered on the enduring value of physical retail experiences and fostering customer loyalty, even in sectors facing digital disruption. He emphasized creating engaging in-store environments that allow customers to interact with products—touching, feeling, and discovering items in ways cannot replicate—believing this builds lasting relationships and differentiates from giants. In declining industries like toys and music, Putman prioritized community-oriented stores as "treasure troves" for serendipitous finds, underscoring his conviction that brick-and-mortar retail remains vital for experiential shopping.

Expansion into music and toys

In the late 2010s, Doug Putman significantly expanded his music operations in through , leveraging the resurgence of records to drive growth. Acquired by Putman in when it operated just five stores, Sunrise capitalized on increasing demand for physical music formats, particularly , which saw sales rise amid a broader revival of analog media among younger consumers. By 2017, the chain had grown to approximately 30 locations, with accounting for a substantial portion of revenue—up to 30% in some stores—fueled by exclusive releases and in-store events. This expansion accelerated in February 2017 when Putman acquired the leases for 70 closing Canada stores following the chain's , converting them into Sunrise outlets and preserving over 1,000 jobs. The move transformed Sunrise into a national player with more than 100 locations by the end of the year, focusing on , movies, and merchandise while emphasizing community-oriented retail experiences. These stores became hubs for vinyl enthusiasts, stocking limited-edition pressings and hosting listening parties that aligned with the format's cultural comeback. Building on his family's early involvement in toy distribution through Everest Toys, Putman entered the toy sector with the 2021 acquisition of Toys "R" Us Canada from Fairfax Financial Holdings, which had operated the 81-store chain since 2018. Post-acquisition, Putman relaunched online operations and maintained the physical footprint, later expanding by reopening and adding 10 new stores in 2023, including two standalone Babies "R" Us locations, to revive the brand's experiential shopping appeal with features like Geoffrey the Giraffe mascots and play areas. This deal preserved the iconic retailer's presence in Canada amid global challenges in the toy industry. Seeking diversification beyond music and toys, Putman launched the T. Kettle tea shop chain in November 2020 by acquiring 45 former David's Tea leases after that company's restructuring, initially opening across nine Canadian provinces with a focus on premium loose-leaf teas and accessories. By 2025, the concept had scaled back to two locations, reflecting adjustments to post-pandemic consumer trends in beverage retail. Similarly, in 2023, Putman introduced Rooms + Spaces, a home goods retailer, by taking over 21 vacant Bed Bath & Beyond sites in five provinces, offering kitchenware, bedding, and decor; Rooms + Spaces ceased operations as a standalone chain by early 2025, with its products integrated into Toys "R" Us locations to broaden reach.

US and international acquisitions

In February 2019, Doug Putman acquired the UK-based Retail, along with the Fopp chain and remaining assets, out of for £883,000, saving approximately 100 stores and 1,600 jobs. This deal marked Putman's first major international expansion, building on his successful revival of stores in through , where he had transformed former locations into thriving music retail outlets. Under Putman's ownership, UK began a phased expansion, growing its footprint to over 100 stores by focusing on and pop culture merchandise amid the dominance of streaming services. In January 2020, Putman extended his reach into the by purchasing the entertainment retailer from Trans World Entertainment for $10 million , averting its impending . The acquisition included over 200 FYE stores across the , as well as online brands FYE and SecondSpin, allowing Putman to retain the chain's physical presence in a market shifting toward digital consumption. This move positioned as the owner of the last major retail chains in , the , and the , emphasizing Putman's strategy of revitalizing brick-and-mortar stores through curated selections of , , DVDs, and merchandise. Putman's international efforts continued to evolve in 2023, with the reopening of an store in Dublin's Henry Street in July, marking the brand's return to after a seven-year absence and establishing its first flagship outside the . Later that year, in November, entered the Belgian market with its debut store in Antwerp's Wijnegem , expanding retail to mainland for the first time. These openings, including the November 2023 reopening of 's historic flagship in after a four-year closure, underscored Putman's approach of adapting his Canadian playbook—prioritizing experiential retail and the resurgence of physical formats like and Blu-ray—to counter streaming's market share in diverse regions.

Recent ventures and turnaround efforts

In 2023, Doug Putman pursued a high-profile but ultimately unsuccessful bid to acquire the discount retailer out of administration, aiming to preserve up to 350 stores and 10,000 jobs through his company , which owns ; however, the deal collapsed, leading to the closure of all 400 Wilko locations. This effort built on his earlier turnaround of in 2019, positioning him as a potential savior for distressed retailers. The following year, in March 2024, Putman registered interest in rescuing amid its UK administration and collapses in North American operations, contacting administrators FRP Advisory but stopping short of a formal offer, as the chain was ultimately acquired by a consortium led by Aurea Group. His approach continued into 2025 with an exploratory bid for WHSmith's high-street stores, which the retailer sought to divest to focus on travel retail; however, the process narrowed to other parties like Modella Capital and Alteri Investors, excluding Putman from the final deal. In September 2025, Putman submitted a formal proposal for UK operations after the accessories chain entered administration, competing against bidders including Modella Capital and investor , but Modella ultimately secured the 156-store acquisition. Shifting focus to , Putman achieved successes in early 2025 by acquiring apparel retailers to diversify his portfolio. In January, Putman Investments purchased Northern Reflections, a women's with 134 stores across nine provinces, from its previous owners amid financial restructuring. The following month, in February, the company acquired the Ricki's and brands from Comark Holdings, which had sought creditor protection; an court approved the going-concern sale, allowing Putman to retain operations and integrate the fashion labels into his growing retail holdings. In May 2025, Putman launched Putman Publishing, a new imprint specializing in music and pop culture books, headed by industry veteran Pete Selby. Known as a "turnaround artist" for reviving struggling retailers like Toys "R" Us Canada and , Putman targets distressed assets with strategies centered on operational efficiencies, store refreshes, and to restore viability. His portfolio, as of 2022, employed approximately 20,000 people and generated billions in annual revenue, underscoring the scale of his influence in rescue operations. Despite these ambitions, Putman's ventures have faced challenges, including necessary adaptations like store rationalization. For instance, T. Kettle, the tea retailer he launched in 2020 by 45 former locations, has shrunk dramatically to just two remaining stores by early 2025, reflecting a pivot away from underperforming sites such as the one in to streamline costs. This adaptive strategy also involved closing five Toys "R" Us locations in during the same period, prioritizing profitability amid shifting consumer trends and economic pressures. In September 2025, Everest Toys was placed into amid financial difficulties within the Putman Group.

Companies and investments

Core holdings in Canada

Putman Investments, led by Doug Putman, maintains a portfolio of key Canadian retail operations spanning , toys, apparel, and home goods. These holdings emphasize physical presence alongside , focusing on revitalizing traditional brick-and-mortar formats in a competitive market. As of late 2025, the core Canadian assets include established chains in entertainment and toys, complemented by recent apparel acquisitions. Sunrise Records operates over 80 stores across nine provinces, specializing in vinyl records, CDs, movies, pop culture merchandise, and apparel. Founded in 1977 and expanded under Putman since 2004, the chain has grown to approximately 80 locations, employing more than 460 people and maintaining a strong emphasis on amid a resurgence in analog formats. HMV Canada, revived under Putman Investments, functions primarily as a concept integrated into Toys "R" Us locations, with expanded footprints in over 70 sites as of mid-2025. Following its 2017 acquisition and subsequent restructuring, focuses on entertainment products like music, , and merchandise, leveraging synergies with co-located to reach broader audiences. Toys "R" Us Canada, acquired in 2021, consists of approximately 70 physical stores across all ten provinces, supplemented by a robust platform offering toys, baby products, and video games. The chain has undergone optimizations, including closures of underperforming sites and renovations to incorporate play spaces and sections, while employing thousands in customer-facing roles. Everest Toys serves as a leading wholesale distributor of toys, games, and related products to retailers throughout Canada, supporting the broader Putman portfolio without direct consumer-facing stores. Established in 1992 and integrated into Putman Investments, it handles distribution for major brands and has been pivotal in supplying chains like Toys "R" Us, though it faced financial challenges leading to receivership proceedings in September 2025. Among recent additions, Northern Reflections, an apparel retailer targeting women's , operates 134 stores across nine provinces following its January 2025 acquisition. Complementing this, Ricki's and —women's fashion brands acquired by Putman Investments in February 2025 and subsequently acquired by Northern Reflections in July 2025 with C$30 million financing—operate with a reduced number of physical locations following restructuring and integration, focusing on select sites, shared operations, and . Additionally, T. Kettle, a specialty retailer, runs two remaining locations after scaling back from an initial 45 outlets, while Rooms + Spaces, a home goods brand, operates primarily through integrated sections in Toys "R" Us stores, with a limited number of standalone locations as of 2025 following earlier optimizations.

International portfolio

Doug Putman's international portfolio, managed through his family-owned investment firm Putman Investments, encompasses a network of music and retail operations across and the , focusing on revitalizing physical storefronts for , , merchandise, and pop culture items. In the , Putman oversees and its subsidiary Fopp, operating over 100 stores that emphasize music, , and , with the flagship location on London's serving as a central hub since its reopening in 2023. These outlets have expanded their offerings to include expanded book sections and events, drawing on a model of community-focused retail to drive foot traffic and sales growth. In the United States, Putman's holdings include For Your Entertainment (FYE), a chain of over 100 entertainment stores specializing in music, movies, , and collectibles, which he acquired in 2020 to preserve its physical retail presence amid industry shifts. HMV's presence in Ireland was reestablished in 2023 with a flagship store on Dublin's Henry Street, marking the brand's return after a seven-year absence and targeting music enthusiasts with and live event tie-ins, with plans for further Irish locations. In , opened its first store in in November 2023, introducing the brand to with a focus on music and pop culture, followed by expansion plans including a second location in 2024 to build a stronger regional footprint. Putman Investments provides centralized oversight for these global assets, leveraging a lean structure with a small core team to coordinate operations, supply chains, and growth strategies across borders.

Investment philosophy and strategy

Doug Putman's investment philosophy centers on acquiring and revitalizing distressed legacy brands, emphasizing long-term over short-term gains. He prefers "fixing problems" in established companies that have lost their way, believing that with proper management, they can achieve "unlimited runway" for growth. This approach stems from his conviction in the enduring value of physical experiences, even amid the rise of , as he argues that "people are always going to want to go somewhere and shop," and online channels will never fully replace brick-and-mortar interactions. As a university dropout from University's program who built his fortune from humble beginnings, Putman operates through the model of Putman Investments, a with just six direct employees that delegates operations to on-site managers in a style reminiscent of Warren Buffett's . His strategy prioritizes calculated risks in turnarounds, focusing on by directly engaging staff during acquisitions to foster and operational improvements, alongside strong ties rooted in his Hamilton-area origins. The firm maintains a conservative financial structure with a low 20% , funding growth through and mortgages rather than heavy . Putman Investments' portfolio, which employs over 20,000 people and generates revenue in the billions across and , underscores his emphasis on organic expansion through acquisitions without quick flips—he describes himself as a "great buyer but a terrible seller." As a self-made , Putman continues to target opportunities that align with this vision, with ongoing interest in and turnarounds as of 2025, including expansions of holdings like and potential bids for additional British retailers.

Personal life and philanthropy

Family and residences

Doug Putman is married to Kerri Putman. The couple has a daughter, Hadley, born on March 13, 2019. Putman maintains a low public profile on personal matters, with limited details available about his family beyond these basics. The family resides primarily in , where Putman also bases his business operations in a shared . Putman has described his life as family-centric, prioritizing time with his wife and daughter amid his demanding role in managing a portfolio of businesses, while staying rooted in the region.

Community involvement

Doug Putman has spoken at the Rotary Club of Dundas Valley Sunrise, where he supports local initiatives through speaking engagements and networking events aimed at fostering business growth in the region. His philanthropic efforts are often tied to business activities, emphasizing job creation and economic stability in communities. Through acquisitions by Putman Investments, such as Toys "R" Us and the expansion of and operations, Putman has sustained or created thousands of positions across . Putman has also engaged in direct community support, notably through a $1 million family donation to in 2020, which funded the reimagining of the Ottawa Street facility into The Putman Family , enhancing services for women and youth programs in areas like housing, education, and skill-building in the area. No major personal foundations have been established by Putman as of 2025. Locally, he is known as the "Oracle of Ancaster" for his influential role in revitalizing retail and boosting economic opportunities in the Ancaster and greater communities.

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