Meet Nexus Capital, Big Lots’ likely new owner
Hi there! Cale Weissman, Modern Retail’s editor in chief, signing on.?
In today’s Modern Retail Download, we have news of companies going bankrupt or selling. It’s really a sign of the times. Older players are being forced to adapt or sell. On that same note, we have another story about a gaming platform trying to adapt by getting into e-commerce. Of course, the question is whether people will actually use it.?
All of those stories are below. Thanks for reading!
How outdoors brand Backcountry lost its way
Earlier this week, outdoors brand Backcountry confirmed that it was bought by CSC Generation Enterprise. This firm also owns Sur La Table and One Kings Brand. It’s not a surprising move – the company has been ailing for quite a while now. But it’s a big change from only a few years ago.
It was once a leading outdoors player, and boasted nearly $1 billion in sales during the pandemic. But while other competitors like REI and Cotopaxi continue to open new stores and seemingly grow sales, Backcountry has faded into the background.
How did it get here? We spoke with former employees about what changed internally at the company, leading ultimately to this sale.
Meet Nexus Capital, the private equity firm that wants to save Big Lots
After months of speculation, Big Lots finally filed for bankruptcy. And a firm called Nexus Capital has swooped in with a stalking horse bid.
领英推荐
But who exactly is Nexus Capital? The company owns a diverse group of brands including Dollar Shave Club, DTC vitamin-gummies brand Sugarbear and Toms shoes. What do all these businesses have in common? We tried to figure it out.
How Roblox’s Shopify partnership lays the groundwork for e-commerce in the metaverse
Roblox is best known as a gaming platform beloved by the younger generations. But it wants to be so much more. In fact, it has big commerce ambitions.
The latest example of this is a new partnership it announced with Shopify. Through this, Roblox users can find and purchase items while using the platform.?
Roblox is not the first company to try and bring shopping to the metaverse. But most of those projects haven’t yielded great results. Can Roblox buck this trend?
That’s all we have today. Thanks!
?— Cale?