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iMedia and ReStore Capital Forge Partnership to Operate Iconic, 75-Year-Old Omni-Channel Brand.
MINNEAPOLIS, March 03, 2021 (GLOBE NEWSWIRE) -- iMedia Brands (NASDAQ: IMBI) (“iMedia”) today announced a licensing partnership with ReStore Capital (www.restore-cap.com), a Hilco Global company, where iMedia will operate and grow the Christopher & Banks business throughout all sales channels, including digital, television, catalog, and brick and mortar retail, effective March 1, 2021.
iMedia will launch a new weekly Christopher & Banks television program on ShopHQ, its flagship nationally distributed television network, which will also promote the brand’s website, christopherandbanks.com, its only two retail stores in Coon Rapids, MN and Branson, MO, and its soon to be launched Christopher & Banks Stylists, an online interactive video platform that improves a customer’s shopping experience through customized wardrobe outfitting by a Christopher & Banks’ stylist.
As demonstrated by iMedia in 2020 when it leveraged its national television networks’ promotional power and vendor network to successfully launch its Shaquille O’Neal branded kitchen products in Target and Walmart stores, iMedia intends to again leverage its interactive media and ecommerce assets to drive growth of the Christopher & Banks products in all sales channels.
“We know the Christopher & Banks fashions and customer demographics well because they are the same as our ShopHQ fashions and customer demographics,” said Tim Peterman, CEO of iMedia Brands. “We also know this iconic brand has maintained a passionate customer base for over 75 years. This is a big opportunity, and we are excited to get started.”
Benjamin Nortman, CEO of ReStore Capital, said, “We are thrilled to partner with iMedia and leverage our retail expertise and capital solutions to add value to the overall operation. We are very pleased to keep the iconic Christopher & Banks brand going and providing its customer base with the fashion looks they want at a tremendous value.”
About iMedia Brands, Inc.
iMedia Brands, Inc. (Nasdaq: IMBI) is a leading interactive media company that owns a growing portfolio of lifestyle television networks, consumer brands and media commerce services. Its brand portfolio spans multiple business models and product categories. Its television brands are ShopHQ, ShopBulldogTV, ShopHQHealth and LaVenta. Its media commerce services brands are Float Left Interactive and i3PL Services. Its consumer brands include J.W. Hulme, OurGalleria.com and TheCloseOut.com. Please visit www.imediabrands.com for more investor information.
About Christopher & Banks
Founded in 1956, the Christopher & Banks brand motto today is Effortless Style for Real Life. The brand specializes in offering women’s value-priced apparel and accessories that cater to women of all sizes from petite to missy to women’s (plus). It offers modern and comfortable clothes, from basics to unique, with colors, details and prints specially designed for its proprietary styles. Its Missy, Petite, Women (MPW) retail store format offers all sizes under one roof from sizes 4 to 16 and from 14W to 24W.
It engages with its customers through its website, christopherandbanks.com, its only two retail stores in Coon Rapids, MN and Branson, MO, its weekly, national television program on ShopHQ, and its soon to be launched Christopher & Banks Stylists, an online interactive video service platform that improves a customer’s shopping experience through customized wardrobe outfitting by a Christopher & Banks Stylist.
Follow Christopher & Banks on Facebook, Twitter and Instagram.
About ReStore Capital
ReStore Capital is a commercial finance and alternative investment firm providing capital solutions to leading retailers and consumer products companies. Directly, and through its affiliates, the company leverages decades of retail and wholesale consumer goods and brand expertise to provide and unlock additional capital for inventory procurement, capex improvements, expansion and turnaround initiatives, and debt refinancing. ReStore Capital is a Hilco Global company. To find out more, visit www.restore-cap.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This release contains statements, estimates, projections, guidance or outlooks that constitute “forward-looking” statements as defined under U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “project,” “should” and similar expressions identify forward-looking statements, which generally are not historical in nature. These statements may contain information about our prospects, including anticipated show, event, or product line launches, and involve risks and uncertainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors.
Gateway Investor Relations
Hilco Global – ReStore Capital
EVP – Chief Marketing Officer