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Kaspien
Kaspien Holdings, Inc. (formerly Trans World Entertainment) was an American company that provided 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. Its interim CEO was Goldman Sachs veteran Brock Kowalchuk, who took over March 11, 2022.
Based in Albany, New York, Trans World was formed 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 has expanded through acquisitions of a number of smaller or failing companies including Strawberries, Coconuts, 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. 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 Musicland, Discount Records, Sam Goody, Suncoast Motion Picture Company, Media Play, and On Cue. The buyout included a handful of On Cue stores.
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.
In October 2016, Trans World acquired etailz, Inc, a third-party online retailer, for $76 million.
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. The company rebranded to etailz in 2013 after acquiring Ecomom.
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Kaspien
Kaspien Holdings, Inc. (formerly Trans World Entertainment) was an American company that provided 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. Its interim CEO was Goldman Sachs veteran Brock Kowalchuk, who took over March 11, 2022.
Based in Albany, New York, Trans World was formed 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 has expanded through acquisitions of a number of smaller or failing companies including Strawberries, Coconuts, 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. 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 Musicland, Discount Records, Sam Goody, Suncoast Motion Picture Company, Media Play, and On Cue. The buyout included a handful of On Cue stores.
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.
In October 2016, Trans World acquired etailz, Inc, a third-party online retailer, for $76 million.
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. The company rebranded to etailz in 2013 after acquiring Ecomom.