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Kaspien

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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

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.

Acquiring etailz, Inc.

In October 2016, Trans World acquired etailz, Inc, a third-party online retailer, for $76 million.[1] 

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.[2] The company rebranded to etailz in 2013 after acquiring Ecomom.[3]  

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.[4] etailz’s founder and CEO left the company shortly thereafter in March 2019.[5] In September 2019, etailz hired a new CEO, Kunal Chopra.[6]

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.[7] 

In March 2020, Trans World reconstituted its board of directors and its CEO stepped down.[8] 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.[9]

References

  1. ^ Corp, Trans World Entertainment (2016-10-17). "Trans World Entertainment Corporation Announces the Purchase of etailz, Inc., Digital Marketplace Retail Expert". GlobeNewswire News Room. Retrieved 2020-09-17.
  2. ^ "Green retailer GreenCupboards says sales are on rise > Spokane Journal of Business". www.spokanejournal.com. Retrieved 2020-09-17.
  3. ^ "GreenCupboards buys assets of Ecomom after founder's suicide". GeekWire. 2013-04-24. Retrieved 2020-09-17.
  4. ^ "Etailz reduces staff following parent company losses | The Spokesman-Review". www.spokesman.com. Retrieved 2020-09-17.
  5. ^ "Etailz CEO and co-founder Josh Neblett no longer with company, executive says | The Spokesman-Review". www.spokesman.com. Retrieved 2020-09-17.
  6. ^ "Etailz names new CEO > Spokane Journal of Business". www.spokanejournal.com. Retrieved 2020-09-17.
  7. ^ Corp, Trans World Entertainment (2020-01-23). "Trans World Entertainment Corporation Announces Agreement to Sell FYE Segment". GlobeNewswire News Room. Retrieved 2020-09-17.
  8. ^ Corp, Trans World Entertainment (2020-03-31). "Trans World Entertainment Corporation Announces New Financing, Board Changes and Company Refocus". GlobeNewswire News Room. Retrieved 2020-09-17.
  9. ^ "'etailz' Rebrands as 'Kaspien' to Better Support Online Brand Growth". PRWeb. Retrieved 2020-09-17.
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