Under Costco’s ownership, Innovel will continue to serve Sears and other existing third party customers. Advisors to Costco on the transaction included Moelis & Company (financial) and Perkins Coie (legal).
Innovel has for decades provided Sears and, more recently, third parties with ‘final mile’ delivery, complete installation and white glove capabilities for ‘big and bulky’ products across the United States and Puerto Rico. Innovel’s network offers coverage to nearly 90 per cent of the US and Puerto Rico. Products served through Innovel include major appliances, furniture, mattresses, televisions, grills, patio, fitness equipment and wine cellars. Innovel consistently ranks in the top quartile of customer satisfaction scores.
It employs over 1,500 people and operates 11 distribution/fulfillment centres and over 100 final-mile cross-dock centres, with over 15 million square feet of warehouse space. The company also operates dedicated call centres.
“We have had a great relationship with Innovel and share a philosophy of taking care of our members. We believe the acquisition will allow us to grow our e-commerce sales of ‘big and bulky’ items at a faster rate,” said Craig Jelinek, Costco’s CEO.
Costco has been a customer of Innovel since 2015. Costco currently operates 786 warehouses, including 547 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 29 in the United Kingdom, 26 in Japan, 16 in Korea, 13 in Taiwan, 11 in Australia, two in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the US, Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.
Fibre2Fashion News Desk (PC)
Textiles | On 28th Mar 2020
The global response this week to the unfolding COVID-19 crisis saw...
Apparel/Garments | On 28th Mar 2020
Though Bangladesh is now the second-largest garment exporter...
There might be negative impact on garment exports
Shiladitya K Joshi
Truetzschler India Private Limited
India ITME provides a platform to interact with our stakeholders
Poojaa Kumar Deepak
Zeven's performance sports apparel is designed for the Indian body type,...
Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...
Epson is a world leader in digital imaging and printing solutions....
Teresa Neal, an art professional with 25 years of experience, in...
A team of engineers at the Vanderbilt University has designed a smart...
Dieffenbacher India Pvt Ltd
Germany-based Dieffenbacher Group is a producer of high-quality composites ...
Birmingham City University (BCU)
<div>A technological breakthrough could see people getting messages about...
From its modest beginning in the late 1960s, Shrujan has grown into a...
Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...
Tahweave & Garo
Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...