Retail Ecommerce Venture, a company that buys the intellectual assets of bankrupt retailers has acquired Modell’s Sporting Goods.
Well-established American brand, Modell’s Sporting Goods carried a selection of sporting equipment and related apparel in its stores. The brand filed for bankruptcy in March and has since been liquidating all of its stores. Retail Ecommerce Venture has acquired the brand and intends to replicate its business online. The terms of the agreement sees that Retail Ecommerce Venture acquires all of Modell’s assets including its domain names, loyalty rewards programme materials, social media assets and existing e-commerce database.
‘Modell’s is a prime example of a brand that has continued to build such a loyal following over the years, despite the changing tides of brick-and-mortar retail. We look forward to taking what customers already know and love about Modell’s, and replicating it online in a new and exciting e-commerce experience.’ said Tai Lopez, Co-Founder and President of REV.
