CEO Sharon Price John says Build-A-Bear’s old e-commerce system is a big reason for disappointing online sales in December.
A private equities placement will allow the operator of four home improvement web sites to build out infrastructure, systems and staff. The financing round includes new and original investors.
Online home gear and home improvement retailer Home Décor Products has secured a private equity investment of $7.1 million, the company says. The investment round will fund expansion of the company by allowing it to build out systems, distribution infrastructure, new lines of business and staff, according to CEO Mike Golden.
The company recently moved corporate headquarters, distribution center and showroom from its original location to a new 270,000-square-foot facility, both in Edison, N.J. “This financing represents a strong vote of confidence in our business, particularly since it includes both existing and new investors,” Golden says.
The financing round was led by Kinderhook Partners LP. Seymour Holtzman and eight individual investors also participated. “Home Décor Products has a proven and scalable business strategy that presents substantial growth opportunity,” says Stephen Clearman, managing partner of Kinderhook Partners.
Home Décor products operate four web sites focusing on different segments of the market, including HomeClick.com, AbsoluteHome.com, Barbecues.com and KnobsandThigs.com. The flagship site, HomeClick.com, launched in 2000.