Many See TJX Companies Recent Acquisition of Sierra Trading Post
As an Affirmation that Online Retail is Here to Stay
As an Affirmation that Online Retail is Here to Stay
TJX Companies is a retail powerhouse, with thousands of T.J. Maxx, Marshalls, and HomeGoods locations throughout the United States, Canada, and Europe. When it was announced on December 21 that this off-price apparel and home fashions retail giant had purchased one of the world’s largest off-price Internet retailers, the business world took notice.
Increasingly, successful retailers need a viable e-commerce strategy to survive and prosper in today’s rapidly changing business environment. Customers have quickly grown to love the convenience and economy of buying online and online sales continue to grow year-after-year.
As one of the world’s leading off-price online retailers, Sierra Trading Post shares many characteristics with T.J. Maxx, Marshalls, and HomeGoods stores, offering their customers great values on branded apparel, footwear and home furnishings. According to Carol Meyrowitz, Chief Executive Officer of The TJX Companies, the acquisition of Sierra Trading Post strengthens the opportunities for growth within the TJX family of companies. “Sierra Trading Post has a very loyal customer base, strong vendor relationships, and operates with a low cost structure,” says Meyrowitz. “Their deep Internet retailing experience will serve as a complement to the strong e-commerce team we have already built within the TJX organization.”
The Role of E-Commerce in Today’s Retail Enviroment
Luxury goods retailer Samuel Friedmann, owner of Gevril Group, finds TJX’s acquisition of Sierra Trading Post indicative of the future in retail. “A comprehensive e-commerce strategy is a critical component in any successful retailer’s business plan.” For Friedmann, online retail is here to stay, and it appears that it is here to stay for TJX Companies as well.
Sierra Trading Post, which launched its e-commerce business in 1999, has already grown to over $200 million in annual revenue. As an integral part of the TJX family of companies, this Internet powerhouse will play a key role as the company continues to develop an e-commerce capability that benefits TJX’s value oriented customers. “We are confident that TJX can help grow our new Sierra business profitably through our buying scale, marketing and our other capabilities,” says Carol Meyrowitz. When that happens, everyone benefits.
About Gevril Group
Gevril Group is the exclusive US representative for select European watch brands, distributing and servicing luxury, fashion and sports timepieces at a wide range of price points. Gevril Group also operates a full-service watch repair department staffed by master Swiss watchmakers.
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