PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Modell’s Sporting Goods, the six-largest full-line sporting goods retailer in the U.S., becomes the 21st retailer to assign its web operations to Global Sports.
Modell’s Sporting Goods will become the 21st sports merchandise retail site to be launched and operated by King of Prussia, PA-based Global Sports Inc. when it debuts in time for the holidays. The New York-based Modell’s, the nation’s oldest family-owned and operated retailer of sporting goods, is the sixth largest full-line sporting goods retailer in the country, with 89 stores and annual sales of approximately $436 million. Modell’s had previously operated its e-commerce store using a combination of internal resources and third-party relationships.
“Modell’s Sporting Goods is extremely committed to e-commerce,” says Mitchell Modell, president and CEO. “We have extensively evaluated the alternatives available to us in e-commerce, and moving forward, Global Sports is the best solution for our business.”
Modell’s, with stores concentrated in the Northeast from New York to Washington, DC, will leverage existing brand and advertising efforts to drive traffic toward the new site. The campaign will include promotion in its newspaper circulars, radio ads, and billboards. In addition, the company intends to promote the web site through other sports marketing opportunities such as in-stadium signage for all four major sports leagues in five states. Modell’s selection of Global Sports makes it the seventh retailer to transition from an existing e-commerce solution to Global Sports this year.