Retail Ecommerce Ventures In June 2020, Retail Ecommerce Ventures (REV) acquired Pier 1 for $31 million. REV, which was founded by former NASA scientist Alex Mehr and serial entrepreneur Tai Lopez, is a holding company that buys distressed iconic brands and revives them as e-commerce businesses.

The home furnishings retailer relaunched last week as an online-only store at Pier1.com. Retail Ecommerce Ventures purchased the rights to Pier 1's trademark, intellectual property, data and e-commerce assets for $31 million in July with plans to revive the company online, REV said in a news release.

Home decor retailer Pier 1 has officially made a comeback by relaunching its online store after filing for Chapter 11 bankruptcy and ceasing all operations. Its e-commerce store relaunched in October, according to a report by RetailDive. Roughly 540 brick-and-mortar stores and its online operations shuttered last fall.

Pier 1 filed for bankruptcy early on in 2020. It also tried and failed to find a buyer for the business. Because of COVID-19, the chain will be closing all stores still remaining in the United States - not half of their stores, as was announced earlier in 2020.

San Mateo, California Pier 1 Imports was founded in San Mateo, California in 1962 as Cost Plus Imports.

Pier 1 Imports began in 1962 under the name Cost Plus Imports opened by Charles Tandy and Luther Henderson. At the time, Mr. Henderson was the treasurer for Tandy Corporation. You might know the name Tandy Corporation: it was the owner of Radio Shack, another bygone retailer.

The biggest problem Pier 1 faces is its inability to find a sweet spot. In its heyday, Pier 1 offered aesthetically interesting items that were slightly cheaper than top design brands but more expensive than the average discount furniture warehouse. Today, the market for this type of product no longer exists.

Pier 1 main competitors are Vanity, Chico's FAS, and Target. Competitor Summary. See how Pier 1 compares to its main competitors: Target has the most employees (409,000).

The biggest problem Pier 1 faces is its inability to find a sweet spot. In its heyday, Pier 1 offered aesthetically interesting items that were slightly cheaper than top design brands but more expensive than the average discount furniture warehouse. Today, the market for this type of product no longer exists.

“In connection with this, the Company has made the decision to move forward in the U.S. and close all stores in Canada. We thank our customers in Canada for your continued loyalty and for shopping with us over the years,” the statement read.

Pier One is renowned for combining that perfect blend of quality, comfort and style in every shoe produced and boasts a range that starts with leather slip-on sandals and stretches to chunky winter boots. With a strong reputation for superior footwear to uphold, every pair of Pier One shoes is a work of art.

Due to the size and variety of our product range, Zalando Private Labels (Anna Field, Even&Odd, Friboo, Pier One, Yourturn, ZIGN) does not own any of the factories in our supply chain.