Stein Mart being revived online
Stein Mart stores may be closed, but the brand is being revived. Online, at least.
Retail Ecommerce Ventures came to its rescue. The investment firm invests in brands it believes can thrive online. REV announced Wednesday that it had purchased the intellectual property of bankrupt Stein Mart for $6 million and will receive private-label brands, domain name and customer data. An online-only store is expected to launch in early 2021.
Stein Mart joins REV’s recent acquisition of Pier 1 Imports. The company’s stable of brands also includes Dressbarn, Modell’s Sporting Goods and RadioShack.