Modell's Sporting Goods
Private | |
Industry | Retail |
---|---|
Founded | 1889New York City, New York, United States | in
Founder | Morris Modell |
Defunct | 2020; (Physical stores) |
Products | Sports apparel, Sporting goods, Footwear, Licensed goods |
Brands | Majestic Athletic, Nike, Reebok, etc. |
Services | Sporting apparel, Licensed sports gear of the MLB, NHL, NBA, and NFL |
Owner | Retail ECommerce Ventures |
Website | modells |
Modell's Sporting Goods Online, Inc. is an online sporting goods and related apparel retailer. Modell's began with operating retail stores between the late 1980s and the late 2010s.[1][2] In 2020, Modell’s became a brand owned by the private equity firm Retail Ecommerce Ventures.[3]
History
The chain was founded as a single store by Morris A. Modell in 1889 in
Through the years, it has remained a family-owned business, passing through four generations of the Modell family. While best known as a sporting goods retailer, Modell's also operated a chain of "full-line" discount retailers in the New York-metro area known as "Modell's Shopper's World" (and for a short time as "White-Modells") from the mid-1950s up until 1989, when the company decided to focus on its sporting goods operations partly due to increased competition in the discount retail market.[5]
William Modell, who became chairman in 1985, also founded the Crohn's and Colitis Foundation along with his wife, Shelby Modell.[6]
Modell's at one time operated 152 stores[2] mainly in New York, New Jersey, and Pennsylvania, in addition to also having a presence Delaware, Maryland, Virginia, the District of Columbia, Connecticut, Massachusetts, and New Hampshire. It also operated a flagship store which was located at 234 West 42nd Street near Times Square.
CEO Mitchell Modell was featured on an episode of
In February 2020, the company announced that they would shutter 24 underperforming stores in effort to stave off bankruptcy. The company also announced that they have hired financial advisers following a disappointing 2019 holiday season. They also have stopped paying a unspecified number of landlords and some of its vendors and has started discussions with suppliers in another effort to prevent losing any further cash.
On August 20, 2020, all of the company's assets was acquired by Retail Ecommerce Ventures for $3.6 million, and they announced that the company would be coming back as a digital-only brand.
Local sports affiliations
Modell's had local specialized offerings and programs such as Team Weeks, which assists local schools, leagues, and non-profit organizations. Modell's sponsored many professional sports teams in their
Some writers attributed at least some of Modell's problems during the 2010s due to the poor performance of New York sports teams in that decade, and the difficulty in selling their merchandise.[14][15]
Art Modell, who owned the NFL football teams Cleveland Browns and then Baltimore Ravens, was the grandson of the founder of Modell's Sporting Goods, Morris A. Modell, but had nothing to do with that company. A perceived affiliation was hoped to be useful when Modell Sporting Goods attempted to penetrate Maryland markets in 2004 — a spokesman stated, "I think that Art Modell having brought a team to Baltimore that won a Super Bowl championship can help in some ways" — but the expansion was ultimately not successful.[16]
References
- ^ "About Us | Modell's Sporting Goods". www.modells.com. Archived from the original on 7 March 2018. Retrieved 6 March 2018.
- ^ New York Times. Retrieved 2008-03-07.
William D. Modell, who as chairman of the Modell's Sporting Goods chain oversaw its expansion throughout much of the Northeast, died Thursday in Manhattan. He was 86 and lived in Hewlett Harbor, N.Y.
- ^ Verdon, Joan. "The Name Game: Why Tai Lopez And Alex Mehr Bought Modell's And Other Retail Brands". Forbes. Retrieved 2020-08-25.
- ^ Hajewski, Doris (2006-08-27). "Burghardt's takes team approach as it passes ball down the line". Milwaukee Journal Sentinel. Retrieved 2008-03-07.
- ^ "SGB 2016 Retail Top 100: The List | SGB Media Online". sgbonline.com. 11 August 2016. Retrieved 2020-03-17.
- ^ "Crohn's & Colitis Foundation". online.crohnscolitisfoundation.org. Retrieved 2019-05-09.
- ^ a b ABC News. "Dick's Sporting Goods Accuses Rival Modell's of Spying". ABC News.
- ^ Verdon, Joan (13 April 2014). "Settlement in Mitch Modell spy case". The Bergen Record. NorthJersey.com. Archived from the original on 2016-10-17. Retrieved 17 October 2014.
- ^ "Modell's reportedly to close 24 stores as it fights to stay afloat". Chain Storage. February 20, 2020. Retrieved October 1, 2023.
- ^ D'Innocenzio, Anne (11 March 2020). "Sporting Goods Chain Modell's to Close Its Remaining Stores". U.S. News & World Report. Retrieved 11 March 2020.
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ignored (help) - Wall Street Journal. Retrieved 11 March 2020.
- ^ "Modell's Will Become Digital-Only With $3.6 Million Purchase By Retail Ecommerce Ventures". Retail TouchPoints. August 20, 2020. Retrieved October 1, 2020.
- ^ "Retail Ecommerce Ventures, Buyer of Moribund Brands, Hires Advisers for Its Own Struggles". The Wall Street Journal. March 2, 2023. Retrieved October 1, 2023.
- ISSN 0362-4331. Retrieved 2021-06-08.
- ISSN 0362-4331. Retrieved 2021-06-08.
- ^ Walker, Andrea (12 August 2004). "Modell's blitzes Baltimore". The Baltimore Sun. Tribune Publishing. Archived from the original on 19 June 2021.