Overstock just announced a rebrand of its corporate name to Beyond, Inc.
The Utah-based e-commerce #retailer had acquired the intellectual property, digital assets and customer lists of the former Bed Bath & Beyond in June for $21.5 million and re-launched the Bed Bath & Beyond website in August.
But while Beyond Inc. has no current plans to open any new #BigBox or other #retail stores, there are a number of Bed Bath & Beyond stores that remain open..
Only those stores are located in #NewZealand and operated by Bed Bath & Beyond New Zealand.
Bed Bath NZ has no affiliation with Beyond Inc. and had itself changed its name to Bed Bath & Beyond decades ago as the brand had not been trademarked in New Zealand.
And ironically Bed Bath NZ - which operates 57 stores across New Zealand - even recently fought its own trademark issues with an #Australian rival Bed Bath N' Table. ⬇
We are starting to see the consequences of the appetite to acquire Macy's by ARKHOUSE Management and Brigade Capital Management, LP for the underlying value of the famed retailer's real estate. Last December, the combined investor group submitted a proposal to acquire Macy's for $5.8 billion. Macy's board declined. The group has since sweetened the bid by $1.1 billion and is now offering $6.9 billion to acquire the Macy’s stock they don’t already own for $24.80 a share. That has sent the stock up.
As a result of the initial offer, Macy's brought in real estate star power to its board (including two proposed by Arkhouse) and has devised a defensive strategy to monetize its real estate. One of the first dispositions is the 78,000-square-foot Macy's furniture gallery, which sits on a 4.6-acre site in south Miami-Dade County. It was sold to the University of Miami, according to records and real estate database Vizzda. In March, Macy’s sold its two store buildings in the Mall at Fox Run in Newington, New Hampshire for $16.25 million to Torrington Properties Inc., the Boston-based company that owns the mall and other major shopping centers in N.H.
Macy's is working with SRS Real Estate Partners to market other properties. Up for sale is one store in Alabama, one in Georgia and six in Texas. These include the Macy's store at Town East Mall in Mesquite, just east of Dallas, an enclosed mall developed in 1971 by Sears affiliate Homart Development Company, and now owned by Brookfield Properties, and Fairview Town Center in a north Dallas suburb developed in 2010 by THE MGHERRING PROPERTY GROUP LLC and now owned by Lincoln Property Company.
A sales brochure, circulated recently by Lee & Associates Commercial Real Estate Services, seeks $8 million for a Macy’s 15-acre department store property and $5 million for its 7.5 acre furniture store at Florence Mall in Florence, Ky. The mall was built in 1976 by Homart. In 2021, lenders took ownership of Florence Mall after its longtime owner, Brookfield Properties, defaulted on $90 million in CMBS debt. An ownership entity that includes Mason Asset Management, Inc. and Namdar Realty Group LLC bought the mall afterward for $38 million.
Last February, Macy's announced a plan to close about 150 underperforming stores in the next three years. About 50 locations will close on January 31, 2025, which is the end of Macy's fiscal year. As part of its initiative to focus on its best-performing stores, Macy's plans to monetize $600 million to $750 million of assets through 2026, primarily related to closures of stores and distribution centers, according to Macy's financial disclosures. The company owns almost 60% of its store locations, all held free and clear of mortgages.
When a company goes under, it's often sold for its parts, including its intellectual property: the branding, the designs, the customer data. Someone who buys this can attempt a sort of retail taxidermy: stuff new operations inside that familiar shell, give it a new charge and hopefully do better.
In simplest terms, the business model works because "not everybody knows the store is closed," says James Cook, director of retail research at the commercial real estate firm JLL. "People are Googling that brand all the time."
Right now, online home-goods retailer Overstock is trying this with the intellectual property of bankrupt Bed Bath & Beyond, shedding its old Overstock self and relaunching under the newly purchased Bed Bath & Beyond name. Buyers of the Toys R Us brand have tried to keep it alive through several iterations.
But nobody makes money on undead brands quite like Authentic Brands Group. It owns more than 50 labels, some of which you may not realize went bankrupt or came close to it: Nine West, Quiksilver, Juicy Couture, Nautica, Barneys, Brooks Brothers.
https://lnkd.in/gSkZd-5c#brandidentity#branding#retail#marketing
In our latest blog, we delve into how Grafe Auction is reshaping retail liquidation through our partnership with Staples. By leveraging our expertise, we've conducted over 100 auctions, turning potential losses into gains.
What strategies do you think are key in retail liquidation? Join the discussion in the comments. Learn about our innovative strategies, successful liquidation of shelving, fixtures, furniture, and how we've saved Staples around $2 million in costs. It's more than just auctions; it's about adding value and redefining retail asset returns. Discover our approach here: https://lnkd.in/gnP62XVv#RetailLiquidation#BusinessInnovation#GrafeAuction
Here is some free game for all the Canadian Licensed Producers looking to occupy in-store real estate.
What purpose or value do your pop-up cards serve for retailers?
How does your merchandising item add value to their retail space?
WHY should a retailer display your items over 100+ options.
It usually doesn't fit the brand,
The flyers are flimsy,
It becomes hoarded junk over time,
If you want to occupy prime real estate space inside a retail store,
Design or offer an item that has real UTILITY.
For example:
Branded carpets, display cases, fridges,
They are more expensive but these items will stay there for good.
You'll establish better relationships by showing an extra level of thought.
You have to put yourself in their shoes
How does this benefit? Does it save them money? Improve the overall aesthetic of the space?
Find a way to INTEGRATE yourself into their retail space seamlessly.
Give first, ask later.
#cannabis#merchandising#marketing#branding#spiritleaf#scarborough#morningside#strategy
🌈 Hey everyone! I got beta access to this super cool website, Showroom Store (check it out here), and I just had to share my experience with you!
What makes Showroom Store stand out? It's all about their smart search feature that's changing the game for online shopping. Here's my quick rundown:
Initial Search: Typed in "red dress" and got a bunch of options.
Refine on the Fly: Decided I didn't want long sleeves, so I simply added "without long sleeves" to my search.
Perfect Matches: Just like that, it showed me red dresses without long sleeves!
It's almost like chatting with a friend who knows exactly what you're looking for. No hassle with filters or disappointing search results.
Having beta access has shown me how shopping online can be way more intuitive and personalized. It feels like a sneak peek into the future of shopping.
I'd really recommend checking it out when you can. It's a game-changer!
#OnlineShopping#TechInnovation#UserExperience#ShoppingSimplified#AIPowered#RetailTech#FashionTech#SmartSearch#PersonalizedShopping#DigitalTransformation
I am extremely keen for FoundPop to help brands however it can after the MATCHES debacle. We have access to spaces and obviously furniture.
Unfortunately, as we are all aware, the retail landscape has witnessed significant changes in recent months, from the collapse of Ted Baker, The Body Shop, MUJI Europe Holdings Limited to luxury e-tailer MATCHES. As we learn to navigate the evolving industry, at FoundPop we are seeing a clear shift back towards brick-and-mortar spaces, but without the burdensome overhead costs of permanent locations. This change reflects a broader trend driven by factors such as changing consumer preferences as well as independent brands wanting to consolidate their circles and have more control over their product.
Obviously, the recent acquisition of MATCHES by Frasers Group (again) has sent ripples through the fashion industry. With brands having their stock tied up and uncertain prospects of retrieving it, young designers who rely on MATCHES for exposure, now find themselves in a precarious position. This development underscores the importance of supporting brands and finding alternative avenues for showcasing their collections.
FoundPop aims to help wherever we can, offering brands a platform to harness the power of pop-up spaces. With our extensive network of landlords, including partnerships with Outlet Shopping at The O2, Unibail-Rodamco-Westfield, Landsec and The Crown Estate and a range of rental furniture suitable to most retailers, we can provide brands with access to prime locations and seamless logistics support.
In an era of unprecedented change, the evolution of retail is unfolding at a rapid pace. As brands grapple with the challenges and opportunities presented by this shifting landscape, pop-up spaces offer a dynamic and innovative solution to traditional retail models. By embracing flexibility, creativity, and collaboration, brands can navigate the complexities of the modern retail environment and hopefully emerge stronger and more resilient than ever before.
#rentalfurniture#brands#popups
Such an incredible learning opportunity! Thank you!!!