Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Specialty Sports Ventures LLC is closing down GearDirect.com. As a result of a recent analysis, the company has closed the e-commerce site and MountainGifts.com, another niche outdoor site.
Specialty Sports Ventures LLC is closing down GearDirect.com.
GearDirect.com, No. 172 in the Internet Retailer Top 500 Guide, was launched in 1996 to sell outdoor gear, clothing and accessories.
In the past two years GearDirect.com generated annual online revenue of about $53 million, but sales have been flat. As a result of a recent analysis, Specialty Sports Ventures has closed the e-commerce site and MountainGifts.com, another niche outdoor site. “Both GearDirect.com and MountainGifts.com were shut down in mid-July based on a strategic business decision and will remain closed for the foreseeable future and most likely will be permanent although that final decision has not been made,” says a company spokeswoman.
While Specialty Sports Ventures rethinks its approach to two of its web sites, the company will focus on growing its remaining e-commerce sites, including Rentskis.com and Skirentals.com. “We continue to focus on growing both of these online businesses as they play a crucial role in our success, as well as all of our retail locations, which are continuing to grow,” the spokeswoman says.
Denver-based Specialty Sports Ventures, a joint venture majority-owned by Vail Resorts Inc., operates more than 170 stores.