Chris Kampe, Managing Director, Tully & Holland, Discusses Sale of Tall Girls with Multichannel Merchant
October 16, 2009 - Multichannel Merchant quotes Chris Kampe, Managing Director of Tully & Holland's Retail Group in an article published last week in Cross Channel, the section that covers synergies between print catalogs, websites and stores.
In the article Multichannel Merchant discloses the recent sale of selected assets by troubled retailer, Tall Girls, to its UK-based rival, Long Tall Sally. This is "another example of a like concept retailer buying out a similar concept" says Chris Kampe. He suggests the purchaser acquired the U.S. Website and 10 Tall Girl stores in Canada as an entry into North America.
When asked what happened to Tall Girls, Kampe replied "The retailer suffered from a lack of identity and lack of investment. This niche is better served via online to serve a broader population, rather than merely the immediate retail trading area of its stores." He adds "the niche may be too small to work as a brick-and-mortar concept outside large metropolitan areas."
In addition "As the recession kicked in, the consumer dumped the luxury and mid-tier retailers in favor of discounters, off-price, and value retailers." "It is hoped that Long Tall Sally will reinvigorate the fashion and identity of the chains", Kampe says.
Tully & Holland Inc. is a leading US investment bank that provides sophisticated corporate finance advisory services to consumer product companies with special emphasis on retailers, multi-channel marketers, food companies, and consumer product manufacturers/distributors. Chris Kampe, Managing Director of Tully & Holland's Retail Group, has more than 17 years experience in investment and commercial banking, most recently as a Director of Grant Thornton Corporate Finance LLC. Prior to joining Grant Thornton, Chris was a Vice President in Fleet Bank's Retail Group where he spent five years covering the sector.