Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
A marketing initiative pitching corporate gifts such as leather desk sets and binders to existing and prospective customers has given LeatherTree.com a strong second half.
Not willing to let the flagging economy dictate its fortunes, Leather Tree Inc., which operates LeatherTree.com, reached out to prospective and existing customers last summer and as a result expects to have a good Christmas sales season.
Beginning in June, Leather Tree, No. 426 in the Internet Retailer Top 500 Guide, decided to take the bull by the horns. Rather than waiting around for the economy to bottom out, LeatherTree.com began a sales campaign that featured outgoing sales calls to existing and prospective customers pitching corporate gifts for the holidays and corporate incentives for employees.
While not divulging sales figures, Leather Tree has been pleasantly surprised by the positive results, says Jacqueline Berger, president. “Many of our corporate customers have ordered entire leather desk sets and desk accessories for all of their offices to spruce up their images and show their clients they are a successful company,” she says.
Sales are strong enough for Leather Tree to expect a profitable Christmas sales season as well, the company says.