Link This |
Email this |
Blog This |
Comments (10)
The Bombay Company's rebranding may offer relief for the Bombay blues
April 1, 2008
Original posting dated 12/27/07: Disappointed shopping devotees of The Bombay Company may be interested to hear that plans are in the works to create and market a broad range of new consumer products using the Bombay brand name through licensing strategies with retailers, wholesalers and franchisees.
The Bombay Company, Inc. has agreed to sell its intellectual property, which includes the Bombay brand name, to Bombay Brands, LLC, a joint venture of Hilco Consumer Capital and Gordon Brothers Group. Hilco Consumer Capital will assume day-to-day brand management responsibilities and immediately undertake a strategic brand rebuilding program designed to leverage the intrinsic value of the Bombay name. Assistance will be provided by The Bombay Company estate, which retains a 25% interest in Bombay Brands, and Graj + Gustavsen, a brand strategies and marketing firm.
John Collins, an executive with Hilco Consumer Capital, was named President and Chief Marketing Officer of Bombay Brands. Collins has more than 25 years of experience and success in managing and marketing famous-name brands, including Nike, Bauer, Tommy Armour Golf, Volant Ski, Canon Inc., and Kubik.
“The Bombay brand differentiates itself through a lifestyle approach in the home furnishings category,” Collins said. “It offers terrific opportunities for expansion and development into a whole new range of highly desirable and affordable consumer lifestyle products. Our plan will generate new products through licensed wholesalers and bring them to market through strategic retail and brand franchisee partners."
Elaine D. Crowley, SVP, CFO & Treasurer of The Bombay Company, Inc. noted, "We are very pleased that the Bombay name will have the opportunity to flourish under the new venture. We look forward to working with the venture partners to rebuild the Bombay brand."
The Bombay Company expects to completely vacate its corporate offices in Fort Worth, Tx. by the second quarter of 2008. GC Museum Partners acquired the 125,071-sq.-ft. property for $16.35 million. Until its recent bankruptcy and liquidation of assets, The Bombay Company, Inc. designed, sourced and marketed home accessories, wall decor and furniture through 384 retail outlets and the Internet in the U.S. and internationally.
UPDATE -- From a Hilco press release, March 5, 2008: Hilco Consumer Capital Announces Graj + Gustavsen as the Agency on Record (AOR) for Bombay Brands, LLC
Toronto -- Hilco Consumer Capital Corp. has hired the New York based branding firm Graj+Gustavsen (G+G) to reposition and package the newly acquired Bombay Brands, LLC, excluding Canada. The Bombay Brand offers terrific opportunities for expansion and development into a new range of highly desirable and affordable consumer lifestyle products. Hilco’s plan will generate new products through licensed wholesalers and bring them to market through strategic retail and brand franchisee partners.
Bombay Brands, LLC President John Collins stated, “We are thrilled to be partnering with Graj and Gustavsen on the creation of a new brand essence and strategy for Bombay Brands LLC. We will be looking to G + G to lead us in bringing a fresh look and feel to the Bombay Brand by restoring the history and quality the market wants.”
The Bombay Brand will differentiate itself through a lifestyle approach in the home furnishings category. Simon Graj, founder of G+G stated, “We are excited to be a part of what we see as breathing new life into a rich, iconic brand. Bombay is a wonderful mix of classic British Tradition with exotic, global style. This is an opportunity to bring a youthful spirit and classic taste to a wide audience that increasingly appreciates high quality brands with pedigree and soul.”
About Hilco Consumer Capital, LLC
Hilco Consumer Capital (“HCC”) is a leading private equity firm that makes strategic investments in consumer lifestyle Brands. Hilco’s current portfolio includes, Caribbean Joe®, Tommy Armour Golf®, RAM Golf®, which includes Zebra Putters and Teardrop Golf. Also included in their portfolio are Bombay Brands LLC, and the iconic designer brand Halston®, which it controls jointly with the Weinstein Company. HCC is a unit of The Hilco Organization, a Chicago-based, international provider of diversified financial services, including business asset valuations, asset acquisition and disposition services, M&A services, special situation debt and equity financing and retail consulting.
About Graj + Gustavsen
Graj + Gustavsen is a New York based strategic and creative branding firm. With over 18 years experience, Graj+ Gustavsen has worked with companies such as Levi’s, Sears, The Gap, Timex, Saks Fifth Avenue, Target, and Timberland.
Posted by Susan Dickenson on April 1, 2008 | Comments (10)
