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Posted: 2020-08-01 16:20:54

Bankrupt Pier 1 Imports is winding down its brick-and-mortar operation, but its brand name will survive online. Retail Ecommerce Ventures (REV) is paying $31 million for the home goods retailer’s name and intellectual property. https://t.co/V11bCEsG1V

From The Epoch Times (@EpochTimes) at (ecommerce OR shopify OR dtc) min_faves:10 min_replies:2 min_retweets:2 lang:en Twitter Alert
Originally published 2020 08 01
Retail Ecommerce Ventures (REV), an investment firm that buys beleaguered brands, is paying $31 million for the moribund home goods retailer’s name and intellectual property. The aim is to reboot Pier 1 online and create a “robust ecommerce future for the brand,” the firm said Friday.
REV is co-owned by social media influencer Tai Lopez and Alex Mehr, the co-founder of online dating website Zoosk. The company invests in so-called zombie brands that it believes can be revived online. REV bought Dressbarn’s brand last year from the newly bankrupt Ascena Retail Group and says it has turned into a successful online business. It also owns the Linens ‘n Things brand, Franklin Mint, and is the lead bidder for bankrupt Modell’s Sporting Goods.
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Tags:home good retailer,retail ecommerce venture,epoch time,intellectual property,bankrupt pier,brand name,mortar operations,2020/08/01,name

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