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. Retail E-Commerce Ventures. “Brick and mortar plays a role in retail but it cannot be 80% of revenue. 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. Over the last year, Tai Lopez along with business partner Alex Mehr has been snapping up distressed businesses and building a pretty impressive group. 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. 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. This strategy relies wholly on customers’ impressions of brands. They sell anything and everything sports related, and their brand is synonymous with high-quality, credibility, and marketability. Modell's Sporting Goods Online, Inc. 0. Sale +01 23456789 Gecko@domain.com. I’ll put my credit card in to buy this soccer ball’,” Lopez said. Retail Ecommerce Venture has acquired the brand and intends to replicate its business online. 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 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, NEW IN STOCK . Sporting goods … Shop the best athletic & casual shoes from top-quality brands at Modell's, including cleats, running shoes, sneakers, basketball shoes, work & boots & more. I have 20 years experience covering the retail industry, from mega-malls to Main Street shops, and everything in between. Apparel. 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. “There’s so many things you can do with a brand like Modell’s. SHOP NOW. In February, Modell made a YouTube video asking for outside investors to help the company stay alive. Disclosure: I am an independent Mas Group, LLC Affiliate, not an employee. Mission 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. “You need to be mostly e-comm,” Mehr said. retailer, Pier 1 Imports, for $31 million, in July. 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. Tai Lopez… © 2021 Forbes Media LLC. 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 … Walked right in and was helped right away." 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. 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. “He’s very proud of the brand and he wanted to talk and build a relationship,” Lopez said. Sporting Goods Store. 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. Related. Half An hour from the best clown ever. The acquisition, finalized on August 14, 2020, includes the brand name, trademarks, domain name, and the “Gotta Go To Mo’s” jingle. Tai Lopez, co-founder of REV, discusses the acquisition and the investment firm's digital retail strategy. Dec 31, 2020 . 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. There is also a "Modell Family" mailing list. Découvre les 3 photos et les 2 conseils des 207 visiteurs de Modell's Sporting Goods. WATCH NEXT. You Gotta Go To Mo's for all your Sporting Goods, Footwear, Apparel and Fan Gear needs. 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 … That is the strategy behind all of the brands the pair have purchased recently. Fitness; Footwear; Apparel; ProForm City L6 Treadmill $699.99$649.99. You may opt-out by. 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. FITNESS GOAL? Footwear. 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 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. Mehr was a NASA scientist before founding, and later selling, the online dating site, Zoosk. 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. 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. 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. It plans to do the same with Modell’s. Modell's was acquired by Retail Ecommerce Ventures (REV), a holding company founded by Alex Mehr and Tai Lopez, for $3.64 million. The company was purchased with an eye to relaunching the ever-popular Modell’s Sporting Goods name online. 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. 20 029 personnes étaient ici. 52.7k Followers, 3,407 Following, 2,605 Posts - See Instagram photos and videos from Modell's Sporting Goods (@modells) 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 Sporting Goods filed for bankruptcy Wednesday and will close all of its 153 stores in the northeast. 318 check-ins. 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. 4 out of 5 stars. 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. Retail Ecommerce Ventures has acquired sporting goods retailer Modells for nearly $3.7 million. Accessories. Closed Now. Retail Ecommerce Ventures bought the rights to the Modell's name and e-commerce assets for $3.64 ... [+] million in a bankruptcy auction. Search Tai Lopez Courses … Best of Tai Lopez #1 Registered Affiliate Partner. Découvre les 3 photos des 364 visiteurs de Modell's Sporting Goods. 206 Airport Plaza (2,293.08 mi) Farmingdale, New York 11735. Price Range $ Opens at 9:00 AM. Community See All. “There’s a shift in the world and that shift is from brick and mortar to e-commerce. 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. 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. (And no shopping on Sundays!) Why did Tai Lopez Purchase Failing Brands for so Much Money? In July they paid $31 million for the Pier 1 name and e-commerce assets, outbidding private equity heavy hitters. “If that means we need to list our clothing on Amazon’s or Walmart’s marketplace, so be it.”. The brand filed for bankruptcy in March and has since been liquidating all of its stores. Retail Ecommerce Ventures has acquired sporting goods retailer Modells for nearly $3.7 million. “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. Modell's Sporting Goods Location (631) 845-4500. www.modells.com. Retail Ecommerce Ventures (REV) purchased the name and ecommerce assets of another bankrupt ... [+] retailer, Pier 1 Imports, for $31 million, in July. “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. Opinions expressed by Forbes Contributors are their own. 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 … Modell’s Will Become Digital-Only With $3.6 Million Purchase By Retail Ecommerce Ventures | Best of Tai Lopez. “There’s nothing like touching and feeling the merchandise” – pounding a glove or swinging a bar, Modell said. acquisition strategy is buying brands with well-known names that will draw online shoppers. The new Modell’s website will be up by the end of September, Mehr and Lopez said. Mehr and Lopez don’t fit the typical profile of retail investors. 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. Established way back in the day [over 130 years ago], Modell’s Sporting Goods is a veritable American retail sporting institution. Modell's Sporting Goods ad from around April 1992. yucko the clown compilation. Get Directions. I have reported on retail bankruptcies. Sporting goods is a great vertical to be in, “and Modell’s is a well-known and beloved brand in that vertical,” Mehr 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. Of all the brands REV has acquired thus far, Lopez said, the Modell’s deal has triggered the most reaction on social media. 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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. For Lopez it’s all about two words: Brand Recognition. 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. bestoftailopez August 20, 2020 modells sporting goods retail ecommerce ventures tai lopez retail. If such offers are received, an auction will be held on Aug. 6, 2020. "Staff very helpful! I’m not sure all the old guard [brick and mortar retailers] will be able to handle the new world,” Lopez said. Guitar Center, Tailored Brands Find Bankruptcy Lifeline After Year of COVID Struggles. 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. That is why they have been investing millions to buy up beloved – and bankrupt – retail brand names. Well-established American brand, Modell’s Sporting Goods carried a selection of sporting equipment and related apparel in its stores. Pandemic Urged Wing to Find New Uses for Delivery Drones. “Our ultimate goal is how can we get people what they want in the way that’s most convenient for them,” Lopez said. 33 people follow this . The model is broken and that’s why we’re changing it,” he said. All Rights Reserved, This is a BETA experience. 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. I receive referral payments from Mas Group, LLC. When REV purchased the Dressbarn brand, it hired some former Dressbarn buyers who “understood the ongoing business model” of the company,” Lopez said. With stores you’re limited to square footage,” he said. Modell’s Will Become Digital-Only With $3.6 Million Purchase By Retail Ecommerce Ventures – Retail TouchPoints. Thanks for the support and if you have any questions about the programs herein please message me at contact@bestoftailopez.com. In July, the company acquired three brands — Pier 1 Imports, Linens ‘n Things and The Franklin Mint. After REV buys a brand, it relaunches, or refreshes the website. ProForm X-Bike Exercise Bike $269.99 Weider Pro 8500 Smith Cage Strength Trainer … Of revenue @ bestoftailopez.com Franklin Mint same with Modell ’ s or Walmart ’ s Sporting Goods about words... Strategy relies wholly on customers ’ impressions of brands $ 3.7 million, and.! 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