You may opt-out by. The company was purchased with an eye to relaunching the ever-popular Modell’s Sporting Goods name online. Closed Now. I previously covered retail for The Record of North Jersey, NorthJersey.com., USA Today, and the USA Today Network, and also reported for The Grand Rapids Press, and the Buffalo Courier-Express. In July they paid $31 million for the Pier 1 name and e-commerce assets, outbidding private equity heavy hitters. Retail Ecommerce Ventures has acquired sporting goods retailer Modells for nearly $3.7 million. Tai Lopez, co-founder of REV, discusses the acquisition and the investment firm's digital retail strategy. The original. I love covering the retail industry because of how quickly the winners and losers change, and how easy it is for today’s disruptors to become tomorrow’s dinosaurs if they don’t constantly evolve. CSA Modell’s Sporting Goods’ assets acquired; to live online The New York Post This new company is buying brands like Modell’s and giving them new life online Home Accents Today New Pier 1 owners say e-commerce site coming soon It won’t work.”. They sell anything and everything sports related, and their brand is synonymous with high-quality, credibility, and marketability. “We’re following our same plan of blending the old school business people who understand the brand and know Modell’s,” with REV’s e-commerce skills, he said. I receive referral payments from Mas Group, LLC. Mehr and Lopez don’t fit the typical profile of retail investors. Sale +01 23456789 Gecko@domain.com. Digital entrepreneurs Alex Mehr and Tai Lopez founded REV in 2019 to purchase the Dressbarn brand. Business Mergers & Acquisitions Aug 10, 2020 12:54PM PT These E-Comm Investors Are Bringing Back Dressbarn & Pier 1 — Now They’re Poised to Buy IP Assets of Bankrupt Modell’s If such offers are received, an auction will be held on Aug. 6, 2020. A company that is making a name for itself by buying up the intellectual assets of bankrupt retail brands has struck again. Online, “we’re thinking of all the concentric circles to Modell’s Sporting Goods that we can expand into immediately” – categories such as exercise bikes, gym equipment, or baseball trading cards. “People love our brand,” Modell said in the video. Of all the brands REV has acquired thus far, Lopez said, the Modell’s deal has triggered the most reaction on social media. On Thursday, the holding company was the highest winning bidder for Modell’s Sporting Goods intellectual property and other assets related to its e-commerce business, Related. Tai Lopez… 33 people follow this . They also acquired the Linens ‘N Things brand this year, and last year bought the Dressbarn brand name and e-commerce assets, both for undisclosed amounts. Footwear. REV, led by CEO Alex Mehr and president Tai Lopez, expects to re-launch the off-price family fashion and home goods retailer as an online-only store early next year. That is why they have been investing millions to buy up beloved – and bankrupt – retail brand names. 52.7k Followers, 3,407 Following, 2,605 Posts - See Instagram photos and videos from Modell's Sporting Goods (@modells) Fitness and Training. Bringing brands into their vehicle, the Florida-based holding company Retail Ecommerce Ventures (), has been building a portfolio of well-matched and complementary companies.The main philosophy behind their acquisition strategy is to … The acquisition, finalized on August 14, 2020, includes the brand name, trademarks, domain name, and the “Gotta Go To Mo’s” jingle. Customer Service Shambles At Selfridges And Harvey Nichols: Why Premium Goods Need Premium Service, 5 Trends Will Converge To Change Retail Even Faster In 2021. “By buying Modell’s, the real value we’re paying for is that little bit of trust where people go ‘Yeah, I’ll put my credit card in on that web site because I’ve heard of Modell’s, my Grandpa went there. Découvre les 3 photos et les 2 conseils des 207 visiteurs de Modell's Sporting Goods. I have 20 years experience covering the retail industry, from mega-malls to Main Street shops, and everything in between. Community See All. The purchase includes Modell’s trademark name, intellectual property, e-Commerce database and other assets related to its e-Commerce business, including the signature “Gotta Go […], ATTENTION: This website is owned by an official affiliate partner, and all sales through this website via affiliate links will apply a commission to be payable to David J Woodbury with no extra cost to you. “He’s very proud of the brand and he wanted to talk and build a relationship,” Lopez said. Social Media Marketing Agency 3.0 Access Tai Lopez, May your foes become friends and your regrets become resolutions, E-Commerce Certified Specialist Program Access, Modell’s Will Become Digital-Only With $3.6 Million Purchase By Retail Ecommerce Ventures – Retail TouchPoints, https://bestoftailopez.com/wp-content/uploads/2020/07/Ben-Avanzato-Traffic-Mastery-Tai-Lopez-Ads-Exposed.mp4, Tai Lopez Weekly Deal | Training Course Bundle, Tai Lopez Cyber Monday 2020 (Advertorial), Tai Lopez Cyber Monday / Black Friday Extension 2020, Tai Lopez Cyber Monday Extension Christmas Sale Extension 2020, Cashing Out On Bitcoin – Tai’s Personal Cryptocurrency Investment Blueprint. It plans to do the same with Modell’s. bestoftailopez August 20, 2020 modells sporting goods retail ecommerce ventures tai lopez retail. Tai Lopez Modell’s Sporting Goods Signs Stalking Horse Bid with Ecommerce-Focused Buyer A subsidiary of Retail Ecommerce Ventures signed an agreement to serve as the stalking horse bidder for the intellectual property assets of Modell’s Sporting Goods at a purchase price of $1.965 million. “There’s nothing like touching and feeling the merchandise” – pounding a glove or swinging a bar, Modell said. REV recently bought two warehouses to serve as fulfillment centers for its acquired brands and it also uses third-party fulfillment, Lopez and Mehr said. There is also a "Modell Family" mailing list. That is the strategy behind all of the brands the pair have purchased recently. Disclosure: I am an independent Mas Group, LLC Affiliate, not an employee. NEW IN STOCK . Modell's Sporting Goods Online, Inc. 0. For example, REV has recently purchased the names and other intellectual property of RadioShack, Pier 1, Dressbarn, Linens ‘n Things and Modell’s Sporting Goods. 0. Modell's Sporting Goods ad from around April 1992. yucko the clown compilation. Tweet. I’m not sure all the old guard [brick and mortar retailers] will be able to handle the new world,” Lopez said. They see the current economy as a buyers’ market for distressed retail – brands with valuable names that failed because they were late to the e-commerce game – and they have been going on a spending spree. “If that means we need to list our clothing on Amazon’s or Walmart’s marketplace, so be it.”. Retail Ecommerce Venture has acquired the brand and intends to replicate its business online. The model is broken and that’s why we’re changing it,” he said. “There’s so many things you can do with a brand like Modell’s. Top Brands. Modell's was acquired by Retail Ecommerce Ventures (REV), a holding company founded by Alex Mehr and Tai Lopez, for $3.64 million. Guitar Center, Tailored Brands Find Bankruptcy Lifeline After Year of COVID Struggles. (And no shopping on Sundays!) About See All. Why did Tai Lopez Purchase Failing Brands for so Much Money? Price Range $ Opens at 9:00 AM. With stores you’re limited to square footage,” he said. Retail Ecommerce Ventures (REV) purchased the name and ecommerce assets of another bankrupt ... [+] retailer, Pier 1 Imports, for $31 million, in July. The opinions expressed here are my own and are not official statements of Mas Group, LLC or its parent company, Mint Mint, LLC and BBG Enterprises, LLC. Modell's Sporting Goods, the century-old family-owned sporting goods chain, has filed for Chapter 11 bankruptcy and will be closing its remaining 115 stores. 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Lopez and Mehr believe the Modell’s name is powerful enough to convince someone searching online for a soccer ball or exercise equipment to click on the link that says Modell’s. Walked right in and was helped right away." I have 20 years experience covering the retail industry, from mega-malls to Main Street shops, and everything in between. and while you're at it, please drop us a line. Apparel. Thanks for the support and if you have any questions about the programs herein please message me at contact@bestoftailopez.com. Established way back in the day [over 130 years ago], Modell’s Sporting Goods is a veritable American retail sporting institution. REV isn’t ruling out adding a limited brick and mortar presence for its brands in the future, but Mehr and Lopez are convinced the future of retail is online. Retail Ecommerce Ventures (REV) co-founders Alex Mehr (left) and Tai Lopez (right) say their ... [+] acquisition strategy is buying brands with well-known names that will draw online shoppers. “I can’t tell you how many people – just every day, ordinary people from all over New York and Pennsylvania and that area saying ‘Hey I’ve got great memories’,” he said. Retail Ecommerce Ventures, founded by Tai Lopez and Alex Mehr, has been scooping up distressed retailers almost as fast as they fall, looking to flip rusty brick-and-mortar brands into lean e-commerce brands. This strategy relies wholly on customers’ impressions of brands. Mehr was a NASA scientist before founding, and later selling, the online dating site, Zoosk. Over the last year, Tai Lopez along with business partner Alex Mehr has been snapping up distressed businesses and building a pretty impressive group. Mission Lopez said he doesn’t know yet if that old school, new skills blend will include any role for Mitch Modell as a company spokesman, but he said the new owners of the brand have spoken to Modell post-acquisition. “It’s not a tarnished brand. 4. Get Directions. How Miami-based e-commerce gurus Alex Mehr and Tai Lopez are revitalizing legacy retail brands online. “There’s a shift in the world and that shift is from brick and mortar to e-commerce. I have reported on retail bankruptcies. "Staff very helpful! The stalking horse bid is a “floor” bid and is subject to higher or otherwise better offers, which must be submitted on or before Aug. 4, 2020. 206 Airport Plaza (2,293.08 mi) Farmingdale, New York 11735. I have reported on retail bankruptcies, including Toys R Us and A&P; retail launches and turnarounds, and the phenomenon known as Paramus, N.J., which has more retail square footage per capita than any other suburban zip code in the country. Pandemic Urged Wing to Find New Uses for Delivery Drones. In February, Modell made a YouTube video asking for outside investors to help the company stay alive. In a 2017 interview on Fox Business, Modell said the chain had been hurt by Amazon and other e-commerce sites, but that he believed sporting goods customers still wanted to shop primarily in stores. retailer, Pier 1 Imports, for $31 million, in July. Half An hour from the best clown ever. “Brick and mortar plays a role in retail but it cannot be 80% of revenue. acquisition strategy is buying brands with well-known names that will draw online shoppers. Sports & Activities. Modell’s Sporting Goods Online, a subsidiary of Retail Ecommerce Ventures, signed an agreement to serve as the stalking horse bidder at a purchase price of $1.965 million. In July, the company acquired three brands — Pier 1 Imports, Linens ‘n Things and The Franklin Mint. The brand filed for bankruptcy in March and has since been liquidating all of its stores. Sporting Goods Store in Farmingdale, New York. He and Mehr are betting those memories will make Modell’s a familiar, and much clicked on, name on the web going forward. Home; Tai Lopez TV; E-Commerce Certified Specialist Program Access; Knowledge Society; Try SMMA 3.0 for $1; Feed Your Hunger; 67 Steps Trial; Get Mentored by Tai; Cashflow 2.0 Partnership; Credit Mentor 3.0; ECS Training; Search Tai Lopez Courses … Tag: modells sporting goods. The new Modell’s website will be up by the end of September, Mehr and Lopez said. Sporting Goods Store. REV also owns the Franklin Mint brand as well as FarmersCart, an online meat and grocery site, and MentorBox, a subscription service for business and self-development books and courses. All Rights Reserved, This is a BETA experience. 318 check-ins. It had 153 stores, primarily in the Northeast and Middle Atlantic. Laura Schaefer | January 26, 2021 . “You need to be mostly e-comm,” Mehr said. Modell's Sporting Goods Online, Inc., a subsidiary of Retail Ecommerce Ventures, has signed an agreement to serve as the "stalking horse" bidder, at a purchase price of $1,965,000. 4 out of 5 stars. Mehr and Lopez believe the value they bring to brands like Modell’s and Pier 1 is that they understand that e-commerce now must be the primary sales driver. Modell’s, a fourth-generation family-owned business with a flamboyant CEO, Mitch Modell, filed for bankruptcy protection March 11 and is now liquidating the business. MODELL’S GOT YOU. For Lopez it’s all about two words: Brand Recognition. Retail Ecommerce Ventures (REV) was founded by Alex Mehr and Tai Lopez in 2019 as a means for giving life to businesses that have struggled to succeed in … Retail Ecommerce Ventures (REV) has added a new brand to its collection by acquiring certain assets of Modell’s Sporting Goods for $3.64 million, with … Retail E-Commerce Ventures. Lopez is a social media celebrity who became known for his business advice and motivational courses and who accumulated 2.8 million Instagram followers and 1.3 million YouTube subscribers before launching REV. You Gotta Go To Mo's for all your Sporting Goods, Footwear, Apparel and Fan Gear needs. Sporting goods … Accessories. Modell’s Will Become Digital-Only With $3.6 Million Purchase By Retail Ecommerce Ventures | Best of Tai Lopez. Retail Ecommerce Ventures has acquired sporting goods retailer Modells for nearly $3.7 million. Opinions expressed by Forbes Contributors are their own. Fan Shop. Ikea Moving Fast To Multi-Tier Store Strategy In U.S. Modell’s Will Become Digital-Only With $3.6 Million Purchase By Retail Ecommerce Ventures – Retail TouchPoints. It also plans to sell products under Modell’s, Pier 1, and other brand names on Amazon and Walmart’s marketplaces. SHOP NOW. Retail Ecommerce Ventures bought the rights to the Modell's name and e-commerce assets for $3.64 ... [+] million in a bankruptcy auction. © 2021 Forbes Media LLC. Tai Lopez, co-founder of REV, discusses the acquisition and the investment firm's digital retail strategy. Modell's Sporting Goods Location (631) 845-4500. www.modells.com. When REV purchased the Dressbarn brand, it hired some former Dressbarn buyers who “understood the ongoing business model” of the company,” Lopez said. 32 people like this. I’ll put my credit card in to buy this soccer ball’,” Lopez said. In August, Tai Lopez and Alex Mehr completed the acquisition of Modell’s brand name, domain name, trademarks, and other brand assets such as its iconic jingle for $3.64 million. Dressbarn, Pier 1 Imports and Modell's Sporting Goods have all been targeted by a little-known Florida-based investment firm run by a former NASA scientist and a serial entrepreneur. Sporting goods is a great vertical to be in, “and Modell’s is a well-known and beloved brand in that vertical,” Mehr said. WATCH NEXT. Fitness; Footwear; Apparel; ProForm City L6 Treadmill $699.99$649.99. Dec 31, 2020 . Lopez and Mehr believe the Modell’s name is powerful enough to convince someone searching online for a soccer ball or exercise equipment to click on the link that says Modell’s. A subsidiary of Mehr and Lopez’ company, Retail Ecommerce Ventures (REV), bought the Modell’s assets for $3.64 million following the bankruptcy and liquidation of the sporting goods chain. 20 029 personnes étaient ici. Shop the best athletic & casual shoes from top-quality brands at Modell's, including cleats, running shoes, sneakers, basketball shoes, work & boots & more. Modell’s joins a portfolio of brands within REV that had failed in their previous iterations as omnichannel or direct-to-consumer retailers. Their latest acquisition, finalized August 14, is the brand name, trademarks, domain name, and “Gotta Go To Mo’s” jingle of the 131-year old retail chain Modell’s Sporting Goods. After REV buys a brand, it relaunches, or refreshes the website. “Our ultimate goal is how can we get people what they want in the way that’s most convenient for them,” Lopez said. Retail Ecommerce Ventures (REV) has added a new brand to its collection by acquiring certain assets of Modell’s Sporting Goods for $3.64 million, with the intention of making the brand exclusively digital. ProForm X-Bike Exercise Bike $269.99 Weider Pro 8500 Smith Cage Strength Trainer … Modell's Sporting Goods filed for bankruptcy Wednesday and will close all of its 153 stores in the northeast. Click here to subscribe to it. Well-established American brand, Modell’s Sporting Goods carried a selection of sporting equipment and related apparel in its stores. Découvre les 3 photos des 364 visiteurs de Modell's Sporting Goods. FITNESS GOAL? Search Tai Lopez Courses … Best of Tai Lopez #1 Registered Affiliate Partner. Closed Now. 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