Making money in retail these days can seem as difficult as rocket science.
So it helps that Alex Mehr, one of the new owners of brands such as Modell’s Sporting Goods, Pier 1 Imports and Dressbarn, is a former National Aeronautics and Space Administration scientist.
Retail Ecommerce Ventures LLC, founded last year by Mr. Mehr and fellow entrepreneur Taino “Tai” Lopez, has been on the hunt for distressed retailers. Since October, their Miami-based company has made six retail acquisitions, running the brands as online businesses.
This summer, REV took over online housewares retailer Linens ’n Things and collectibles purveyor Franklin Mint. It also purchased the Book People, a bookseller based in the U.K.
E-commerce is expected to get stronger as the coronavirus pandemic continues to ravage brick-and-mortar stores. Online sales could give struggling brands a second life, the entrepreneurs said.