NEW YORK, Oct. 30, 2015 (GLOBE NEWSWIRE) -- Hilco Streambank has been retained as the exclusive agent to sell the Modnique® and Totsy® intellectual property assets. Available assets for purchase include trademarks, domain names and a customer database with over 4.5 million email addresses. Bids are due on or before November 29, 2015.
Founded in 2011, Modnique.com was a global online retailer of fashionable apparel, jewelry, and beauty products. Modnique formerly operated as a wholly owned subsidiary of Bidz.com, Inc., a jewelry ecommerce company. The company was known for its flash sales of high-end designer brands catering to young fashion savvy consumers.
In 2013, Modnique purchased Totsy.com, an online retailer of baby apparel, maternity apparel and housewares. During that year the company averaged 800,000 visitors per month and generated over 38 million dollars in revenue. Due to liquidity constraints the company was forced to shut down in August 2015. The Totsy and Modnique assets can be purchased either as a package or individually.
"Modnique.com and Totsy.com have a long history of successfully driving traffic and ecommerce revenue. The combined offering presents the opportunity to build upon the high level of awareness and acceptance of these brands in the e-commerce channel," said Jack Hazan, EVP of Hilco Streambank. Mr. Hazan also added that "Modnique is a good fit for those seeking to expand their presence in the fashion industry. Totsy has strong association by parents as a brand synonymous with quality children's products."
Hilco Streambank's recent IP and brand dispositions include dELia*s, Dots, Naartjie Kids, Anna's Linens and RadioShack.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years, Hilco Streambank has become a leader in the IP valuation and disposition market, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.
Parties interested in learning more about the assets and the sale should contact Hilco Streambank directly using the contact information provided below:
David Peress
Executive Vice President
Hilco Streambank
(781) 471-1239
dperess@hilcoglobal.com
Jack Hazan
Executive Vice President
212-610-5633
jhazan@hilcoglobal.com
Michael Manopla
Associate
Hilco Streambank
(212) 610-5641
mmanopla@hilcoglobal.com