drbubb Posted September 21, 2020 Report Share Posted September 21, 2020 Awakening the Zombies (Retailers, etc) : The Name Game & the re-animators Pair of Entrepreneurs Aim to Refashion Zombie Retailers Into Online Powerhouses Retail Ecommerce Ventures (REV) co-founders Alex Mehr (left) and Tai Lopez (right) say their ... [+] Retail Ecommerce Ventures (REV) A former NASA scientist and his partner look to make a killing from e-commerce businesses of Dressbarn, Pier 1, Modell’s ... By Aug. 25, 2020 / Making money in retail these days can seem as difficult as ... > WSJ === The Name Game: Why Tai Lopez And Alex Mehr Bought Modell’s And Other Retail Brands 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. That is why they have been investing millions to buy up beloved – and bankrupt – retail brand names. 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. 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. 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. Sporting goods is a great vertical to be in, “and Modell’s is a well-known and beloved brand in that vertical,” Mehr said. “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. I’ll put my credit card in to buy this soccer ball’,” Lopez said. That is the strategy behind all of the brands the pair have purchased recently. 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. > https://www.forbes.com/sites/joanverdon/2020/08/23/the-name-game-why-tai-lopez-and-alex-mehr-bought-modells-and-other-retail-brands/#58fac8752199 In July they paid $31 million for the Pier 1 name and e-commerce assets, outbidding private equity heavy hitters. 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. 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. Mehr and Lopez don’t fit the typical profile of retail investors. Mehr was a NASA scientist before founding, and later selling, the online dating site, Zoosk. 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. After REV buys a brand, it relaunches, or refreshes the website. It also plans to sell products under Modell’s, Pier 1, and other brand names on Amazon AMZN and Walmart WMT ’s marketplaces. > https://www.forbes.com/sites/joanverdon/2020/08/23/the-name-game-why-tai-lopez-and-alex-mehr-bought-modells-and-other-retail-brands/#58fac8752199 Link to comment Share on other sites More sharing options...
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