Retail Ecommerce Ventures placed a $4 million stalking horse bid for the intellectual property of Stein Mart through a majority-owned subsidiary called Stein Mart Online. The assets available for sale include the Stein Mart brand as well as its private label brands, domain names, social media assets and customer data.
Retail Ecommerce Ventures has acquired the intellectual property of multiple retailers in recent years, including Modell’s Sporting Goods, Dressbarn and Pier 1 Imports. The retailer has relaunched each struggling brand as a pure-play ecommerce company in an effort to revitalize their operations.
Stein Mart could be a good candidate for a second life as an ecommerce pure play. The retailer had $81.7 million in aggregate digital sales in 2019, and the average order value was $79.55, according to Hilco Streambank, which is overseeing the sale. The auction also includes 2.2 million opt-in email addresses and three years of customer transaction history data.
Bids for the intellectual property are due by Nov. 16, and the auction will be held on Nov. 18, 2020.
Advertisement
