Online Retailer Inmod.com Acquires Chiasso Assets
August 2, 2013,
The purchase price was not disclosed. Chiasso's online store was closed earlier this year and traffic to that domain name is now being redirected to Inmod's website, with a welcome message and discount offer.
The Chiasso name will be "preserved and used," said Inmod.com E-commerce account manager Ashley Tinter, though the company declined to provide details. More information about the acquisition will be disclosed in the third quarter, she said.
Chiasso once operated more than a dozen stores and had annual revenues of $20 million, according to Inmod.com. It was later acquired at a bankruptcy auction by Chris Segal - son of Crate & Barrel founders Gordon and Carole Segal - and Greg Kadens and was operated by Chiasso Acquisitions until the announced closure earlier this year.
"In a sea of online competition, we have always held Chiasso in the highest regard," Alan Finkelstein, co-founder of the Fairfield, N.J.-based Inmod. com, said in a release.
"They were instrumental in revolutionizing the way people shopped for furniture and brought validity to the idea of experiencing and purchasing it online. They did it before anyone else did, and they did it better than most."
Casey Choron, Inmod cofounder, said the company acquired the brand assets from Chiasso Acquisitions "to honor the Chiasso identity and its customers because it's our wish to carry on their tradition of providing its customers with stylish design at great prices, backed by excellent customer service and an impeccable reputation, which are core values of the Inmod brand."
| Senior Retail Editor, Furniture Today