Olympia Sports, the premium athletic specialist brand announced the auction of its Intellectual Property
Olympia Sports, which is a premium sports brand intellectual property sold at auction
The apparel, footwear, SGB, sports/fitness company, Olympia Sports, has announced the sale of its intellectual property and related assets at auction. The trademarks for Olympia Sports, Clever Training, and Surf Outfitter were sold for $180,000 to Albert Fouerti, a Brooklyn-based entrepreneur, at an auction run by Hilco.
As part of the sale, customer data for 640,000 customers, including e-mail addresses, mailing addresses, and/or SMS numbers, were also included, as well as an owned image library and marketplace accounts. Domain names acquired included OlympiaSports.net, CleverTraining.com, SurfOutfitter.com, BrooklynHalf.com, RunColorado.com, and ClothesBuy.com.
Olympia Sports filed for bankruptcy in September 2022 to liquidate its remaining 35 stores. The sale of its intellectual property and related assets is part of the bankruptcy proceedings and was approved by the U.S. Bankruptcy Court for the District of Delaware. In 2021, Olympia Sports made $9.8 million in e-commerce sales and $65.2 million in retail sales. The year's gross revenues were over $74 million, while the EBITDA was negative by roughly $1.5 million. According to court documents, Olympia had gross revenues of around $28 million until July 31, 2022, with a negative EBITDA of $7.8 million.
Sales of intellectual property have the ability to revive dormant brands and bring in tens of millions, if not hundreds of millions, of dollars. Toys R Us, Circuit City, and Pier 1 were a few of the well-known IPs on the market in the past ten or so years. The recent sale of Stein Mart's intellectual property was likewise handled by Hilco.
Albert Fouerti, who represented the buyer at the auction, has been active in the appliance business and is the CEO of Appliances Connection / Polished, headquartered in Brooklyn, NY. Other bidders at the auction included Scheels Sports, according to court documents.
“Olympia Sports has been a staple of the Northeast for decades and has garnered a loyal customer base including over 415,000 customers who have made a purchase in the last two years,” Hilco Streambank, Senior Vice President Richelle Kalnit said about Olympia Sports.
About Olympia Sports
Olympia Sports was established in 1975 with its first store at The Maine Mall in South Portland, ME. They now operate in over 70 Northeast, Mid-Atlantic, and Mid-West locations. At Olympia Sports, they are proud of its selection of quality athletic specialty brands, first-rate customer service, and accessible locations with locals working the counters. When shopping at Olympia Sports store, you may find quality brands like Nike, Adidas, and Under Armour in every category and for every gender.
Olympia Sports staff members are delighted to assist their customers in finding everything they require so that they are prepared to perform and feel their best. What distinguishes Olympia Sports brand from its competitors is its excellent service and cutting-edge selection. You also can visit a nearby Olympia Sports location to see the difference for yourself.
Media Contact
Company Name: Olympia Sports
Contact Person: Media Relations
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Country: United States
Website: https://olympiasports.net/
