A bankrupt home décor chain is making an online comeback.
Retail Ecommerce Ventures LLC (REV), which purchased the intellectual property, data and online-related assets of Pier 1 for $31 million in July 2020, is officially opening a new online store for Pier 1 Imports. Pier 1 closed its brick-and-mortar stores earlier this year in February.
The new Pier 1 site currently stocks hundreds of familiar SKUs in categories including holiday and seasonal, furniture, pillows and cushions, dining and entertaining, décor, lighting and candles, rugs, curtains, bed and bath, and outdoor. Pier 1 is exploring the addition of a wider array of product offerings.
In addition, the retailer is trying to re-establish its online community of collectors and influencers by restarting its Facebook, Instagram, and other social media accounts. It is also working on a new blog called “Pier 1 of a Kind,” and will introduce iPhone and Android apps in Q1 2021.
As part of the digital relaunch, REV hired about 15 of Pier 1's buying, marketing and customer support personnel. Formerly based in Fort Worth, the new 30-person Pier 1 team is now located in Dallas. REV hired veteran Pier 1 executive Brian Thompson, the retailer's former director of global sourcing, to serve as chief merchandising & supply chain officer. Other members of the senior executive team include CEO Shayan Zadeh, cofounder of dating patform Zoosk, and chief marketing officer A.J. Bhatia.
"At REV, we transform beloved brands like Pier 1 into internet-first companies positioned for robust growth," said Tai Lopez, executive chairman and co-founder of REV. "Central to our playbook is retaining the brand's strengths. It's why we retained veteran buyers from Pier 1 to re-engage with vendors and bring back the merchandise our customers know and love."