While the leisure sportswear market has never been stronger, the competition in the space has never been stronger.
Dick’s Sporting Goods (dks) – Get a free report it has managed to survive, sometimes even thrive using a fairly traditional model, but several similar chains have failed. Sports Authority, a big box store with a model similar to Dick’s went bankrupt in 2016, while Eastern Mountain Sports went bankrupt that same year while Modell’s liquidated its stores in 2020.
Olympia Sports, a regional chain in the Northeast founded in 1975, surprisingly went bankrupt last July.
You can blame many factors for these bankruptcies beyond pointing fingers at Amazon (AMZN) – Get a free report/Internet Nike (OF) – Get a free report has stepped up its retail and direct-to-consumer game, while lululemon (LULU) – Get a free report has become a major high-level player, and Target (TGT) – Get a free report has renewed its offer by adding high-quality, low-priced sportswear for men and women.
And, while the Olympia bankruptcy was shocking, it was predictable, as retail has become a space where the biggest players and companies with well-defined niches win. Now, however, the next step in the sporting goods retailer’s bankruptcy is occurring and that could lead to the brand coming back.
Olympia Sports will have new owners
Bankruptcy doesn’t seem to mean the end of retail brands. Toys R Us has made multiple comebacks and the brand already has a space at Macy’s (SUBWAY) – Get a free report stories. Sharper Image may no longer be a retailer, but the brand has been resurrected on products.
There is value in the familiar, and that makes well-known brands, even those that failed, great value. Someone will have a chance to see what the Olympia Sports name means, as the company’s intellectual property (IP), which includes its name and trademarks, is up for auction. retail scuba informed.
“Intellectual property for two other brands, Clever Training and Surf Outfitter, is also up for sale, along with customer data and domain names,” the website reported.
The sale will be handled by Hilco Streambank, a firm that specializes in Chapter 7 and Chapter 11 bankruptcy cases. Any sale is subject to approval by the US Bankruptcy Court for the District of Delaware.
“For Olympia, available-for-sale assets include trademarks, customer data from 640,000 people, a library of proprietary images, and more than 50 domain names, including OlympiaSports.net, CleverTraining.com, SurfOutfitter.com , RunColorado.com and ClothesBuy. .com,” RetailDive said.
The assets could be sold as a package or split up.
