Retail Ecommerce Ventures, the company that has relaunched distressed retail brands into e-commerce sites such as Dressbarn, Linens ‘n Things and Modell’s Sporting Goods, has relaunched Pier 1 Imports.
REV said in a statement that Pier 1 “starts anew as an Internet-first retailer of home furnishings and accessories,” and noted that the company is retaining the brand’s “senior buyers and other key personnel” while revamping the “functionality and look of Pier1.com.”
This past summer, REV acquired Pier 1 Imports’ intellectual property, trademarked name, data and other assets for $31 million.
Tai Lopez, executive chairman and cofounder of REV, praised the 58-year-old brand, which shuttered its physical stores earlier this year as part of its bankruptcy plan, noting that Pier 1 is a strong retail nameplate that “millions of people continue to cherish” for its “curated assortments of proprietary and imported goods.”
Lopez said his company transforms “beloved brands like Pier 1 into Internet-first companies positioned for robust growth. Central to our playbook is retaining the brand’s strengths. It’s why we retained veteran buyers from Pier 1 to re-engage with vendors and bring back the merchandise our customers know and love.”
Shayan Zadeh, who serves as Pier 1 Imports’ chief executive officer, said the company has made “tremendous progress in revamping the site, with much-improved discovery, filtering and search capabilities.” Zadeh said aside from a site redesign, Pier1.com will be getting an upgraded mobile experience early in 2021 via apps for Android and iPhone.
REV said the relaunched online store “already offers hundreds of familiar stockkeeping units in categories such as holiday and seasonal, furniture, pillows and cushions, dining and entertaining, décor, lighting and candles, rugs, curtains, bed and bath and outdoor.”
Zadeh said without the burden of physical stores, the site now offers hundreds of newer sku’s with more on the way.