Perch, part of a growing wave one of Amazon brand rollups in the hottest space in retail, just raised $775 million, bringing its war chest to over $900 million as it looks to add to a portfolio of 70 brands acquired in just 18 months and considers product launches. The company opened its own FC and is eyeing Asia and South America.
Looking to create more of an end-to-end ecommerce solution and move beyond the perception that it’s a payments platform only, PayPal has acquired Happy Returns, which consolidates returns for retailers via a national network of mall and store collection points. PayPal had led a 2019 funding round of $11M into Happy Returns.
Stalco, a Toronto-based 3PL specializing in fulfillment and distribution for high-velocity ecommerce clients in Canada, the U.S. and abroad, has been acquired by Canada Cartage. Stalco will become a standalone unit within CCLS, Canada Cartage’s fulfillment and distribution division, and operated independently.
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Brand investment platform Go Global has closed its acquisition of women’s retro fashion brand Modcloth from Walmart, announced last fall, with financing from Tiger Capital Group. Go Global managing director Jeff Streader talks to Multichannel Merchant about Modcloth’s distinctiveness and the importance of listening to customers.
1-800-Flowers is acquiring PersonalizationMall.com from troubled retailer Bed, Bath and Beyond, which has been in the midst of a major turnaround effort, for $252 million. The deal includes a newly renovated 360,000-square-foot production/distribution center, a database of B2B and B2C customers and its website and mobile platform.
Forever 21 has struck an $81 million deal to sell its assets to a group of mall owners and management operations, including Simon Property Group, Brookfield Properties and brand development/marketing venture Authentic Brands Group. It includes all of Forever 21’s assets and must be approved by a bankruptcy court judge.
Lease-to-own retailer Sears Hometown has been saved from potential failure through a $133 million acquisition by tax preparation firm Liberty Tax, which has been on a buying spree of distressed businesses this summer as it expands into the world of franchise retail and rent-to-own.
Walmart announced that Jet.com president Simon Belsham is expected to step down in August and that the company is merging Jet.com business into its Walmart.com ecommerce operations.
Walmart, refusing to slow down, announced the acquisition of Bare Necessities, adding an online intimates retailer to its list of ecommerce properties. This news comes hot on the heels of the retail giant’s October purchase of plus-sized fashion retailer Eloquii. Here is why Bare Necessities fits well into Walmart’s group of acquired ecommerce brands.