Newell Rubbermaid simplifies portfolio
In a move to focus on its core businesses, Atlanta-based Newell Rubbermaid sold its Teach platform, including the Mimio and Headsprout interactive teaching technology brands, to Skyview Capital, a Beverly Hills, Calif., private equity firm.
“Our Growth Game Plan is designed to accelerate performance by setting clear priorities for our business. This transaction further simplifies our portfolio as we continue to invest behind our highest-potential global growth opportunities,” said Michael Polk, Newell Rubbermaid’s president and CEO.
Terms were not disclosed. The transaction has closed with the signing of the agreement.
Newell brands include tool-focused Irwin, Hilmor and Lenox, along with home products Rubbermaid, Levolar, Sharpie and Rolodex.
Furniture groups get their online act together
Furniture chains of North America have united, at least in the form of a relaunch of Furniture.com.
Described as a “unique online shopping experience powered by the merchandising and service capabilities of top brick-and-mortar furniture chains,” the partnership includes RoomsToGo, Schottenstein Stores and Leon’s Furniture of Canada.
The retailers will provide sourcing, warehousing and delivery capabilities for the e-commerce site, planned to be relaunched later this year.
“Furniture has been called the last remaining $1 billion e-commerce opportunity,” said Carl Prindle, president and CEO of Furniture.com. “Capturing this complex opportunity requires a ‘wow’ customer experience that can only be delivered by marrying leading technology with the scale and expertise of world-class furniture chains. We’re excited to bring together the best in the business and make this a reality.”
Jay Schottenstein, head of Schottenstein Stores, said that this new partnership “enables e-commerce innovation and collaboration between the largest furniture retailers in North America.” He added that furniture’s migration online reminds him of another industry — shoes — where he owns leading offline and online retailer DSW. “For years, we were told no one would buy shoes online,” said Schottenstein. ”It took the right model to catalyze the online shoe industry. Furniture.com is that catalyzing model for furniture.”
The site uses e-commerce technology from Blueport Commerce, an e-commerce solution for the furniture industry.