Talk:Kaspien
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Proposed Changes Given Rebrand from Trans World Entertainment to Kaspien
edit | This edit request by an editor with a conflict of interest has now been answered. |
Information to be added or removed: I am requesting an entire overhaul of this page given the rebrand. See my proposed listing content below.
Kaspien Holdings is an American company that provides software and services for ecommerce. Kaspien Holdings operates on Amazon in the United States, Canada, United Kingdom, Spain, France, Italy, Germany, the Netherlands, Sweden, and India, as well as Walmart Marketplace, eBay, Google Shopping, and Target.
History Trans World Entertainment Corporation Italic text
Based in Spokane, Washington, Kaspien Holdings was founded as Trans World Entertainment Corporation in 1972 by Robert Higgins. It opened its first store, Record Town (formerly Record Land), in 1973. The company went public in July 1986 and expanded through acquisitions of a number of smaller or failing companies, including Strawberries, Camelot Music, and Wherehouse Entertainment.
On September 23, 2000, Trans World signed a definitive agreement to acquire the assets of WaxWorks, and the deal was expected to close by the end of October.
As part of a 2002 settlement with 41 states over CD price fixing, Trans World Entertainment, along with retailers Musicland and Tower Records, agreed to pay a $3 million fine.[4] It is estimated that between 1995 and 2000, customers were overcharged by nearly $500 million and up to $5 per album.
In February 2006, Trans World acquired the Musicland Group, which owned Sam Goody, Suncoast Motion Picture Company, and Media Play. The buyout included a handful of On Cue stores.[6]
Trans World operated at a net loss from 2006 to 2010. In fiscal year 2011, it turned a profit of $2.2 million (compared to a $31 million loss in FY 2010). The company closed some locations and increased margins on its products.[7] Acquiring etailz, Inc.
In October 2016, Trans World acquired etailz, Inc, a third-party online retailer, for $76 million.Citation
etailz was founded in 2008 by Josh Neblett, Sarah Wollnick (now Sarah Neblett), and Tom Simpson as GreenCupboards and had operated as a niche retailer of eco-friendly products.Citation The company rebranded to etailz in 2013 after acquiring Ecomom. Citation
In January 2019, etailz laid off 20 percent of its workforce after Trans World reported a $14 million loss in the third quarter of 2018.Citation etailz’s founder and CEO left the company shortly thereafter in March 2019.Citation In September 2019, etailz hired a new CEO, Kunal Chopra. Citation
In January 2020, Trans World sold its FYE segment for $10 million to Sunrise Records and Entertainment Ltd., severing its ties to physical retail stores and leaving etailz as its only remaining subsidiary.Citation
In March 2020, Trans World reconstituted its board of directors and its CEO stepped down.Citation New members joined the board to reinforce the company’s focus on ecommerce, including etailz founder Tom Simpson.
Rebranding to Kaspien Holdings
On September 3, 2020, Trans World Entertainment rebranded to Kaspien Holdings. It's remaining subsidiary, etailz, also changed their name to Kaspien, merging the two companies and solidifying the focus on ecommerce.Citation
Explanation of issue: etailz and Trans World Entertainment have consolidated into Kaspien. I've added content above that reflects the etailz acquisition and deleted some irrelevant, old information from Trans World.
References supporting change: https://www.prweb.com/releases/etailz_rebrands_as_kaspien_to_better_support_online_brand_growth/prweb17362173.htm
— Preceding unsigned comment added by Katiecapka (talk • contribs) 19:29, 11 September 2020 (UTC) 50.239.148.42 (talk) 20:24, 17 September 2020 (UTC)
- The only source provided for these changes is from a press release. Please provide references from reliable, third party sources. Regards, Spintendo 15:20, 26 October 2020 (UTC)