Things Remembered is trying hard not to be forgotten. The company primarily sells products, such as jewelry, leather goods, glassware, and religious items, that can be personalized with engraving or embroidery and given as gifts. The retailer boasts more than 600 mall-based locations in the US across 48 states; it also operates about 160 kiosks. Stores also offer personalization services for items purchased elsewhere. Besides its bricks-and-mortar locations, Things Remembered markets products through its catalog and e-commerce site. The company is owned by the Chicago-based private equity firm Madison Dearborn Partners (MDP).
While privately-owned Things Remembered doesn't report its financial results, the company rang up an estimated $315 million in sales in 2011.
MDP in May 2012 bought Things Remembered from GB Merchant Partners, an affiliate of Gordon Brothers Group, and investment firm Bruckman, Rosser, Sherrill & Co. for the sum of $295 million.
Faced with stalled sales due to the recently ailing US economy and slumping consumer spending, Things Remembered has been working to remain profitable. To reach shoppers, the company has refined its product selection to include more value-priced items. Things Remembered also has stepped up its marketing efforts, especially around traditional gift-giving occasions (such as Valentine's Day, Mother's Day, and Christmas). Alongside other retailers, such as Target, Sears, and Toys R Us, the company in 2010 launched a Christmas in July ad campaign to spur sales during the typically slower summer months prior to the back-to-school push. While Things Remembered does not anticipate noteworthy revenue rises, the retailer is banking on these moves to help keep its inventories slim.
The gifts retailer has been working to revamp its image, thanks to direction from CEO Michael Anthony, who joined the company from Brookstone. Things Remembered has remodeled stores, redesigned its catalog and website, and shaken up its merchandising mix. – less
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