Direct To Consumer (DTC)

Boston – Online specialty retailer Karmaloop Inc. has named Seth Haber as CEO. Haber is the former co-owner and director of Agenda Trade Shows.

Haber's appointment follows the recent acquisition of Karmaloop by Comvest Partners and CapX Partners, which includes all of Karmaloop's businesses; Karmaloop.com, PLNDR, Kazbah and Karmaloop Europe. Comvest and CapX will acquire Karmaloop as part of the company's voluntary Chapter 11 bankruptcy case. The sale is expected to close in early June.
 

Fairfax, Va. -- Geeknet Inc., which announced a deal on Tuesday to be acquired by teen retailer Hot Topic, said Wednesday it had received a new and higher offer. The company said it would review the new offer.

Geeknet, parent company of online retailers ThinkGeek and ThinkGeek Solutions, said it received an offer from a "strategic buyer" that valued it at $20 per share in cash, or approximately $134.6 million.

Amazon is reportedly looking to launch an artisanal-goods marketplace called Handmade, according to The Wall Street Journal.

The newspaper obtained invites that Amazon has sent to sellers at Etsy. Neither Amazon nor Etsy has agreed to comment on the Journal report.

Los Angeles -- Specialty teen retailer Hot Topic is acquiring Geeknet, parent company of online retailers ThinkGeek and ThinkGeek Solutions, for approximately $122 million, which is more than double the company’s market value.  

ThinkGeek sells a wide range of merchandise, including clothing, toys, and gadgets mostly based on popular movies, television shows and brands that have strong "geek" appeal, such as "Star Trek," ''The Big Bang Theory," and ''Star Wars."

Declining sales and mounting losses at online retailer Geeknet weren’t enough to deter Hot Topic from paying a steep price to acquire the retailer of products designed to appeal to the geek in everyone.

Los Angeles-based Hot Topic, operator of 650 specialty stores, entered into an agreement with Fairfax, Va.-based Geeknet to acquire the company for $17.50 a share, a 122% premium above Geeknet’s closing share price of $7.90 on Friday, May 22.

Seattle – Amazon.com is reportedly preparing an online marketplace for handmade goods that will appropriately enough be known as “Handmade.” According to the Wall Street Journal, Amazon has been sending targeted emails to Etsy sellers inviting them to sell their wares on Handmade.

The invites do not specify when Handmade will launch or what type of fees sellers will be charged. Etsy sellers are being asked what category of goods they make, such as apparel and baby, and can also select subcategories such as jewelry and home.

Chico's CEO David Dyer, who laid "the foundation for global expansion," will retire next spring, the company announced.

L Brands is showing that it continues to be a bright spot in a volatile specialty retail environment with its latest quarterly results.

The company raised its full-year adjusted earnings guidance to $3.50 to $3.70 a share, from its previous forecast for $3.45 to $3.65. The retailer reported profit of $250.5 million, or 84 cents a share, in the three months ended May 2, up from $157 million, or 53 cents a share, in the prior year period. Sales rose 5% to $2.5 billion.