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. “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. "Staff very helpful! After REV buys a brand, it relaunches, or refreshes the website. Apparel. MODELL’S GOT YOU. 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. Retail E-Commerce Ventures. 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. Human beings are wary of strangers, and the unknown, and that is especially true when it comes to online shopping, according to Tai Lopez and Alex Mehr. The model is broken and that’s why we’re changing it,” he said. 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. Modell's Sporting Goods Online, Inc. 0. 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 … Sporting Goods Store. 318 check-ins. Laura Schaefer | January 26, 2021 . Search Tai Lopez Courses … Best of Tai Lopez #1 Registered Affiliate Partner. Mission This strategy relies wholly on customers’ impressions of brands. 32 people like this. That is the strategy behind all of the brands the pair have purchased recently. 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. Walked right in and was helped right away." Closed Now. “If that means we need to list our clothing on Amazon’s or Walmart’s marketplace, so be it.”. It also plans to sell products under Modell’s, Pier 1, and other brand names on Amazon and Walmart’s marketplaces. Ikea Moving Fast To Multi-Tier Store Strategy In U.S. The original. It plans to do the same with Modell’s. Pandemic Urged Wing to Find New Uses for Delivery Drones. Sale +01 23456789 Gecko@domain.com. acquisition strategy is buying brands with well-known names that will draw online shoppers. That is why they have been investing millions to buy up beloved – and bankrupt – retail brand names. If such offers are received, an auction will be held on Aug. 6, 2020. In July, the company acquired three brands — Pier 1 Imports, Linens ‘n Things and The Franklin Mint. Price Range $ Opens at 9:00 AM. Retail Ecommerce Ventures has acquired sporting goods retailer Modells for nearly $3.7 million. “People love our brand,” Modell said in the video. Modell’s joins a portfolio of brands within REV that had failed in their previous iterations as omnichannel or direct-to-consumer retailers. 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. 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. Opinions expressed by Forbes Contributors are their own. WATCH NEXT. Sporting goods is a great vertical to be in, “and Modell’s is a well-known and beloved brand in that vertical,” Mehr said. (And no shopping on Sundays!) 0. When REV purchased the Dressbarn brand, it hired some former Dressbarn buyers who “understood the ongoing business model” of the company,” Lopez said. How Miami-based e-commerce gurus Alex Mehr and Tai Lopez are revitalizing legacy retail brands online. A company that is making a name for itself by buying up the intellectual assets of bankrupt retail brands has struck again. 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. 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. 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. Tai Lopez… 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. Click here to subscribe to it. SHOP NOW. 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. About See All. He and Mehr are betting those memories will make Modell’s a familiar, and much clicked on, name on the web going forward. 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. 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 … “Brick and mortar plays a role in retail but it cannot be 80% of revenue. You Gotta Go To Mo's for all your Sporting Goods, Footwear, Apparel and Fan Gear needs. Accessories. Disclosure: I am an independent Mas Group, LLC Affiliate, not an employee. 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. The new Modell’s website will be up by the end of September, Mehr and Lopez said. 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. Sporting goods … 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. 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 brand filed for bankruptcy in March and has since been liquidating all of its stores. Why did Tai Lopez Purchase Failing Brands for so Much Money? 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. Shop the best athletic & casual shoes from top-quality brands at Modell's, including cleats, running shoes, sneakers, basketball shoes, work & boots & more. Guitar Center, Tailored Brands Find Bankruptcy Lifeline After Year of COVID Struggles. Related. “There’s a shift in the world and that shift is from brick and mortar to e-commerce. 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. 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. Retail Ecommerce Ventures bought the rights to the Modell's name and e-commerce assets for $3.64 ... [+] million in a bankruptcy auction. I’ll put my credit card in to buy this soccer ball’,” Lopez said. There is also a "Modell Family" mailing list. It had 153 stores, primarily in the Northeast and Middle Atlantic. “He’s very proud of the brand and he wanted to talk and build a relationship,” Lopez said. In July they paid $31 million for the Pier 1 name and e-commerce assets, outbidding private equity heavy hitters. Over the last year, Tai Lopez along with business partner Alex Mehr has been snapping up distressed businesses and building a pretty impressive group. 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. 33 people follow this . “There’s so many things you can do with a brand like Modell’s. 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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. All Rights Reserved, This is a BETA experience. Sporting Goods Store in Farmingdale, New York. Dec 31, 2020 . Fitness; Footwear; Apparel; ProForm City L6 Treadmill $699.99$649.99. Digital entrepreneurs Alex Mehr and Tai Lopez founded REV in 2019 to purchase the Dressbarn brand. ProForm X-Bike Exercise Bike $269.99 Weider Pro 8500 Smith Cage Strength Trainer … Of all the brands REV has acquired thus far, Lopez said, the Modell’s deal has triggered the most reaction on social media. With stores you’re limited to square footage,” he said. Tai Lopez, co-founder of REV, discusses the acquisition and the investment firm's digital retail strategy. Closed Now. 52.7k Followers, 3,407 Following, 2,605 Posts - See Instagram photos and videos from Modell's Sporting Goods (@modells) Get Directions. Retail Ecommerce Ventures has acquired sporting goods retailer Modells for nearly $3.7 million. I have 20 years experience covering the retail industry, from mega-malls to Main Street shops, and everything in between. 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. Mehr was a NASA scientist before founding, and later selling, the online dating site, Zoosk. Well-established American brand, Modell’s Sporting Goods carried a selection of sporting equipment and related apparel in its stores. 206 Airport Plaza (2,293.08 mi) Farmingdale, New York 11735. I have reported on retail bankruptcies. 4. “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. NEW IN STOCK . Découvre les 3 photos et les 2 conseils des 207 visiteurs de Modell's Sporting Goods. “Our ultimate goal is how can we get people what they want in the way that’s most convenient for them,” Lopez said. Thanks for the support and if you have any questions about the programs herein please message me at contact@bestoftailopez.com. and while you're at it, please drop us a line. Retail Ecommerce Ventures (REV) purchased the name and ecommerce assets of another bankrupt ... [+] retailer, Pier 1 Imports, for $31 million, in July. Sports & Activities. bestoftailopez August 20, 2020 modells sporting goods retail ecommerce ventures tai lopez retail. 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. I have 20 years experience covering the retail industry, from mega-malls to Main Street shops, and everything in between. It won’t work.”. 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. Community See All. 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 … 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. 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. The acquisition, finalized on August 14, 2020, includes the brand name, trademarks, domain name, and the “Gotta Go To Mo’s” jingle. 20 029 personnes étaient ici. Découvre les 3 photos des 364 visiteurs de Modell's Sporting Goods. “There’s nothing like touching and feeling the merchandise” – pounding a glove or swinging a bar, Modell said. 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 Half An hour from the best clown ever. Modell’s Will Become Digital-Only With $3.6 Million Purchase By Retail Ecommerce Ventures | Best of Tai Lopez. Modell's was acquired by Retail Ecommerce Ventures (REV), a holding company founded by Alex Mehr and Tai Lopez, for $3.64 million. You may opt-out by. 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. For Lopez it’s all about two words: Brand Recognition. 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 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. Tweet. “You need to be mostly e-comm,” Mehr said. 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. Top Brands. 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. Modell's Sporting Goods Location (631) 845-4500. www.modells.com. I’m not sure all the old guard [brick and mortar retailers] will be able to handle the new world,” Lopez said. 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. Fan Shop. Footwear. FITNESS GOAL? “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. 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. Modell’s Will Become Digital-Only With $3.6 Million Purchase By Retail Ecommerce Ventures – Retail TouchPoints. © 2021 Forbes Media LLC. Fitness and Training. Established way back in the day [over 130 years ago], Modell’s Sporting Goods is a veritable American retail sporting institution. 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. “It’s not a tarnished brand. They sell anything and everything sports related, and their brand is synonymous with high-quality, credibility, and marketability. 4 out of 5 stars. Tai Lopez, co-founder of REV, discusses the acquisition and the investment firm's digital retail strategy. Mehr and Lopez don’t fit the typical profile of retail investors. The company was purchased with an eye to relaunching the ever-popular Modell’s Sporting Goods name online. Retail Ecommerce Venture has acquired the brand and intends to replicate its business online. 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. 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