Stein Mart Is Latest Brand Added to Retail Ecommerce Ventures' Stable; Site Expected to be Re-Launched in Early 2021
REV's new majority-owned subsidiary, Stein Mart Online Inc., submitted the winning bid of $6.02 million at the November 18 court auction, topping other offersincluding the subsidiary's original $4.0 million stalking horse bid.
- REV's new majority-owned subsidiary, Stein Mart Online Inc., submitted the winning bid of $6.02 million at the November 18 court auction, topping other offersincluding the subsidiary's original $4.0 million stalking horse bid.
- The winning bid was officially approved on November 23 by the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division.
- REV Executive Chairman Tai Lopez said Stein Mart was a pioneer in taking an off-price brick and mortar retail concept online.
- Retail Ecommerce Ventures(REV) was founded byAlex MehrandTai Lopezin 2019 to renew businesses that have struggled in the age of ecommerce.