The Kickass Entrepreneur
  • About
  • Blog
    • All Blogs
    • Create Wealth (Investing)
    • Entrepreneur Interviews
    • Featured Top Posts
    • Growing Profits
    • Growing Revenues
    • Marketing
    • Positive State of Mind
    • Real Estate Investing
    • Retirement
    • Sales
    • Selling your Business
  • Book
  • Courses
  • Podcast
  • Resources
  • Contact
The Kickass Entrepreneur
Subscribe
The Kickass Entrepreneur
  • About
  • Blog
    • All Blogs
    • Create Wealth (Investing)
    • Entrepreneur Interviews
    • Featured Top Posts
    • Growing Profits
    • Growing Revenues
    • Marketing
    • Positive State of Mind
    • Real Estate Investing
    • Retirement
    • Sales
    • Selling your Business
  • Book
  • Courses
  • Podcast
  • Resources
  • Contact
  • All Blogs

How Successful Entrepreneur Tai Lopez Is Saving Dying Brands by Taking Them Online

  • August 23, 2021
  • 3.2K views
  • 5 minute read
  • Rene
Tai Lopez
Share
Tweet
Share

As we move closer to a post-COVID-19 world, it’s undeniable that the virus’ influence on the global economy has been enormous.

How Successful Entrepreneur Tai Lopez Is Saving Dying Brands by Taking Them Online

All around the world, consumer behavior changed virtually overnight, leaving businesses rushing to discover new ways to interact with their customers to keep generating revenue.

Unfortunately, the retail sector has been one of the worst affected industries, with many brick-and-mortar stores closing due to government lockdowns and tight implementation of social distancing regulations.

Consequently, worldwide retail sales plummeted by 5.7 percent, leaving many retailers with little choice but to close their physical stores or risk bankruptcy.

During this time, the majority of investors salvaged what they could and decided to jump ship.

However, young, serial entrepreneur Tai Lopez and his business partner Alex Mehr decided this was the opportune moment to acquire these failing retail brands and give them a digital makeover.

Who is Tai Lopez?

Tai Lopez’s entrepreneurial story is one for the books. Tai is a college dropout who was raised by a single mother.

He began his journey to success at the mere age of six when he moved from selling cherry tomatoes on the side of the road to selling lemonade.

He increased his profits, and it’s clear that from this young age, he understood business.

His first large success was becoming an owner of a dating company. Today he is a successful entrepreneur, investor, motivational speaker, and online personality, and he’s done it all by the age of 37.

His newest venture has led him down the path of saving dying brands, and with the emergence of COVID-19, his help couldn’t come at a better time.

COVID-19, the Catalyst for Digital Adoption

According to a McKinsey report, COVID-19 accelerated the rate companies developed digital products and services by an estimated seven years.

As we just touched upon, this response was primarily due to the rapid shifting of consumer buying patterns that saw a significant preference towards online purchases.

Thus, it appears that Pandora’s box has been opened, as many consumers who were previously hesitant to utilize digital services have been pushed to do so.

These new, infrequent online shoppers are now aware of the advantages and convenience of online shopping.

In fact, a sizable portion of these individuals is anticipated to continue shopping online for the foreseeable future.

For that reason, these changes in consumer habits are predicted to cause a 169% rise in eCommerce purchases even after the pandemic ends.

Brands on the Brink

With this massive shift towards eCommerce solutions, retail stores have been left without any real means to defend against their online competition, which has seen many famous brands pushed to the brink of bankruptcy.

As a result, there have been over 128 high profile bankruptcies in the retail sector, including names such as:

  • JCPenney
  • Brooks Brothers
  • Lucky Brand
  • GNC
  • Neiman Marcus
  • L’Occitane
  • G-STAR
  • Guitar Center
  • Aldo

Unfortunately, this is pretty bad news for the wider economy as a whole, not just those of us that enjoy buying our clothes on the high street.

The stark reality is that major banks collectively hold $1.3 trillion in corporate debt from the consumer products sector alone.

If the retail industry implodes, then it could spell disaster for many of the large financial institutions.

However, blaming COVID-19 for the retail meltdown would be inaccurate, as brick-and-mortar retailers have long been oblivious to their customer’s shifting demands/needs.

Over the years, they have failed to implement sought-after changes such as the acceptance of new payment methods, improving online discoverability, and the engagement of customers across digital channels.

As such, ever since eCommerce started gaining traction, the writing has been on the wall for these physical retail brands.

Enter Tai Lopez’s and Alex Mehr’s “Retail Ecommerce Ventures”

Founded in 2019 by Tai Lopez and his business partner Alex Mehr, Retail Ecommerce Ventures (REV) is setting out to revive these failing brands by acquiring them and changing their emphasis to a digital-only approach.

In many ways, this is an ingenious idea, as instead of building a brand from scratch, Tai and Alex stand to benefit from the pre-existing momentum and reputation that these renowned yet distressed retail brands possess.

Interestingly, according to Lopez, REV’s original targets were retail behemoths like Barnes & Noble and Forever 21.

However, the two founders understood that the expense of securing the IP rights to these trademarks would make it difficult to turn a profit, and with the stakes so high, these high-profile acquisitions would prove too risky.

That’s when they started looking for declining retail firms that had strong brand loyalty.

Stores May Die, but Brands Live Forever

Both Tai and Alex firmly understood the tremendous value of the intellectual property that these bankrupt businesses held.

Seeing their physical stores close down was not an indication that their business was failing or that consumers didn’t want to purchase their products. It was, in fact, an indication that the brand’s current business model was unsustainable.

This is partly due to the massive overheads associated with brick-and-mortar stores, such as leasing expenses, workers’ salaries, insurance, storing goods, and utility costs.

REV‘s strategy is to remove the most problematic aspect of their business operations (the physical stores themselves).

Then, they can focus on a much more customer-centric approach while setting up a variety of online sales channels, subsequently benefiting from the brand’s identity and the existing customer base.

In most cases, REV’s process involves redesigning their acquired company’s websites to incorporate e-commerce functionalities, typically utilizing an existing and recognized platform, such as Shopify Plus, to simplify the process.

Furthermore, many brands also require a complete overhaul of their current leadership, which means that Lopez and Mehr sometimes have to rejig the management structure to streamline operations.

So Far, so Good for Tai Lopez’s Latest Venture

So far, Tai Lopez’s new venture has gotten off to a great start, with a few high-profile successes under his belt already.

At the time of writing, REV currently has fifteen holdings, including the acquisitions of Modell’s Sporting Goods, Stein Mart, Pier 1 Imports, and Dressbarn.

With Dressbarn being one of their earliest acquisitions, it’s already clear to see they have a winning recipe.

REV says the new Dressbarn.com generated over $40 million in sales in 2020, with sales estimated to reach $65 million in 2021.

Conclusion

And the incredible part is that Dessbarn is now run by a tiny 30-member team, as opposed to the 9,000 employees it had during its brick and mortar era.

These guys are certainly on to something, and it will be fascinating to see how well the rest of their portfolio performs in the coming years.

_________________________________________________________________________ 

Some other articles you might find of interest:

Understand how you can maximize your time to grow your business:

 Time Is Money And Your Most Valuable Resource. Use it Wisely to Build Your Business

https://www.thekickassentrepreneur.com/time-is-money/

 Looking for effective ways to drive and increase traffic to your startup website?

 SEO Traffic Guide To Boost Your Blog Rankings

https://www.thekickassentrepreneur.com/guide-to-boost-your-blog-rankings/

 Looking for effective ways to drive and increase traffic to your startup website?

 3 Top Reasons Why Startups Fail and How Not to Become a Victim

https://www.thekickassentrepreneur.com/3-top-reasons-why-startups-fail-and-how-not-to-become-a-victim/

Thank you for your interest in THE KICKASS ENTREPRENEUR'S GUIDE TO INVESTING. Three Simple Steps to Build Massive Wealth with your Business's Profits. Please check your email to confirm the book download. Form: 400529

There was an error submitting your subscription. Please try again.

Related Posts:

  • What Every Entrepreneur Must Know About Taking Risk in Their Business
  • How to Become a More Successful Entrepreneur
  • Seven Successful Tools Every Entrepreneur Needs
  • A Guide On How to Be a Successful Entrepreneur
  • How to Become a Young Successful Entrepreneur
  • How To Use Innovation To Make You A Successful Entrepreneur
Share
Tweet
Share
Rene

Previous Article
a group of associates doing fist bumps
  • All Blogs

4 Employee Benefits Best Practices to Follow

  • August 23, 2021
  • Rene
View Post
Next Article
a laptop beside a book and a pen
  • All Blogs

What You Need to Know About Removing Yourself From Google

  • August 23, 2021
  • Rene
View Post
You May Also Like
man touching a woman's shoulder
View Post
  • All Blogs

Addressing Emotional Distress from Sexual Harassment in San Diego: A Legal Perspective

  • September 20, 2023
  • Meg Rivera
writing
View Post
  • All Blogs

8 Essential Steps for Impeccable Essay Proofreading and Editing

  • September 20, 2023
  • Meg Rivera
Net worth by age percentile calculator for Canada
View Post
  • All Blogs
  • Financial and Investment Calculators and Economic Data

Net Worth By Age Percentile Calculator for Canada with 2023 Data

  • September 9, 2023
  • Jeff Wiener
waste disposal
View Post
  • All Blogs

Dumpster Diving: A Guide to Efficient Waste Disposal

  • September 6, 2023
  • Meg Rivera
form 1040-x
View Post
  • All Blogs
  • Business

Mastering Form 1040-X: Your Guide to Amended Returns

  • September 3, 2023
  • Jeff Wiener
ohio tax rate
View Post
  • All Blogs
  • Business

Navigating Ohio’s Tax Rates: A Comprehensive Overview

  • September 3, 2023
  • Jeff Wiener
Safe workplace yellow out of service tag placing on RCD residual
View Post
  • All Blogs

Managing Workplace Accidents in San Diego

  • August 29, 2023
  • Meg Rivera
australia
View Post
  • All Blogs

Unleash Fun: Get 30 Free Spins in Australia’s Online gaming Scene

  • August 21, 2023
  • Meg Rivera

Join 6,472 Entrepreneurs That Get My Business Building and Wealth Creation Posts by Email

I can teach you how to build a successful, profitable business, and turn that into millions in personal wealth.

Thank you for your interest in THE KICKASS ENTREPRENEUR'S GUIDE TO INVESTING. Three Simple Steps to Build Massive Wealth with your Business's Profits. Please check your email to confirm the book download. Form: 400529

There was an error submitting your subscription. Please try again.

We won’t send you spam. Unsubscribe at any time.

Recent Posts
  • Real estate broker agent presenting and consult to customer to d 1
    The Return on Investment (ROI) of Mortgage CRM Investments
    • September 20, 2023
  • man touching a woman's shoulder 2
    Addressing Emotional Distress from Sexual Harassment in San Diego: A Legal Perspective
    • September 20, 2023
  • Teach College Students About Money 3
    Crafting an Impressive College Application Essay: Your Path to Admissions Success
    • September 20, 2023
  • writing 4
    8 Essential Steps for Impeccable Essay Proofreading and Editing
    • September 20, 2023
  • ROI, Return on investment, Business and financial concept 5
    Elevating ROI: Advanced Tactics For Funnel Efficiency
    • September 19, 2023
Featured Posts
  • Become a Decamillionaire
    How to Become a Decamillionaire, Grow your Net Worth to $10 Million, and Join the 1% Club
  • how to become wealthy
    The Entrepreneur’s Secret to How to Become Wealthy and Build a Personal Fortune
  • Most Profitable Small Businesses
    27 of the Most Profitable Small Businesses to Open in 2023
Categories
  • All Blogs (1,077)
  • Business (408)
  • Canadian Financial Products (4)
  • Create Wealth (Investing) (134)
  • Entrepreneur Interviews (27)
  • Featured Post for Main Menu (4)
  • Featured Top Posts (23)
  • Finance (110)
  • Financial and Investment Calculators and Economic Data (118)
  • Fitness (9)
  • Growing Profits (72)
  • Growing Revenues (115)
  • Growing Revenues (71)
  • Marketing (160)
  • Millionaire and Business owner interviews (3)
  • Positive State of Mind (69)
  • Real Estate Investing (17)
  • Retirement (13)
  • Reviews (13)
  • Sales (16)
  • Sell Me This Pen (8)
  • Selling your Business (13)
  • Starting a Business (1)
  • Startup Ideas (18)
  • Technology (194)
  • Top Products (4)
  • Uncategorized (62)
Follow us
Author
Jeff Wiener
Jeff sold his company to private equity in 2017 and is now semi-retired. Jeff spends time…

    CHECK OUT MY BLOG, AND SUBSCRIBE

    about
    The Kickass Entrepreneur

    Expand Your Business, Improve Profits, Create Wealth

    Expand your business, improve your profits, and create wealth. Each one of the three can be elusive goals. Follow the right steps, and you, too, can create financial independence. It is possible … you just have to take the right steps.
    NAVIGATION
    • About
    • Blog
      • All Blogs
      • Create Wealth (Investing)
      • Entrepreneur Interviews
      • Featured Top Posts
      • Growing Profits
      • Growing Revenues
      • Marketing
      • Positive State of Mind
      • Real Estate Investing
      • Retirement
      • Sales
      • Selling your Business
    • Book
    • Courses
    • Podcast
    • Resources
    • Contact
    TAGS
    apartment BATNA Business business failure business growth business sale Capitalization Rate CAP Rate cash cash flow Creating Wealth Discipline entrepreneur entrepreneurship excel extra cash Featured goal setting Growing Business investing investment real estate M&A marketing Marketing KPIs Mergers and Acquisitions | M&A | Entrepreneur Blog Millionaire millionaire next door mistakes MUR Peter Principle Profit profitability real estate retirement revenue Revenues sales sales management Semi-Retirement Blog | Entrepreneur Blog | Small Business Blog small business Stagnant stocks success Thomas Stanley wealth
    RECENT ARTICLES
    • horse jockey
      Top 5 Most Successful Horse Racing Jockeys Ever
      • September 8, 2023
    • man and papers
      Active vs. Passive Investing: Which Is Right for You?
      • August 8, 2023
    • seoul
      How Seoul Internships Shape Your Professional Journey
      • July 24, 2023
    • casino
      Empower Yourself With These 5 Lifelong Skills For Success In Casino Business
      • June 23, 2023
    • Real Estate Brokerage
      Factors That Affect Real Estate Commission Rates
      • June 21, 2023
    • Digital online marketing commerce sale concept. Woman using tablet payments online shopping and icon customer network connection on hologram virtual screen, m-banking and omni channel.
      A Savvy Shopper’s Guide to Purchasing Power Tools Online
      • May 23, 2023
    The Kickass Entrepreneur
    • Coaching
    • Book
    • Blog
    • Contact
    • Privacy Policy
    • Terms
    • Disclaimer
    • Facebook
    • LinkedIn

    Input your search keywords and press Enter.