Collapsed retailer Pumpkin Patch has been given a new lease of life, with Catch Group today announcing it has acquired the company’s brand and intellectual property assets, and will be launching a new online store for the kidswear label in July this year.
One of Australia’s largest e-commerce platforms, Catch Group, owner and operator of Catch Of The Day, Scoopon, GroceryRun, and Mumgo, has come to the rescue of iconic New Zealand childrens wear retailer Pumpkin Patch, announcing today it has acquired the company’s brand and intellectual property assets – including database, local and international trademarks, product designs and innovations, for an undisclosed sum.
The acquisition supports Catch Group’s renewed vision to reposition itself towards a higher value customer by bringing on board more premium brands which will be either retailed as stand alone online stores or sold across the Group’s portfolio of online shopping sites.
“There is a strong history of passion for the Pumpkin Patch brand locally and internationally. As parents of kids who wear and love Pumpkin Patch we couldn’t just sit back and let the brand disappear,” Nati Harpaz, CEO of Catch Group told Power Retail.
“Every time we hear that a retailer is closing, we look at it from an angle of lost opportunities, because we (Catch Group) love to buy clearance stock. But when Pumpkin Patch came along, we looked at it from an IP and brand point of view, as well as the database that comes with it, and we were really keen to do a deal there.”
In terms of overall strategy and how the acquisition of Pumpkin Patch brand fits in with Catch Group, Harpaz says that diversification has a lot to do with it. “The fact is, that as a business we need to diversify, and own some of the key brands we think are going to help us with this – Pumpkin Patch as a brand amongst Australians and Kiwis has strong brand equity, and a significant following, and we did not want to see the brand die.”
“Strategically this deal supports our renewed vision to grow the number of premium brands on offer and achieve scale by expanding into new categories and growing customer numbers,” adds Harpaz.
“We think that with our platform, we can bring it (Pumpkin Patch) back to market and make it really successful. It also helps us build a competitive advantage that other retailers and their marketplaces have exclusively, like eBay and Amazon, by having exclusive brands that are only available through us. So if you want to get your hand on these products, you have to buy them through us,” explains Harpaz.
In the last six months, Catch Group has seen more than 10% growth in top line sales and more than 30% increase in gross profit due to better merchandising, promotions and smart customer acquisition strategies.
Pumpkin Patch was founded in New Zealand in 1990 and quickly grew its position internationally as a premium childrenswear retailer, before closing all of its retail stores in 2016.
Catch Group is working towards an early FY 2017 relaunch of the brand and its online stores, with the release of a new line of clothing that focuses on high quality fabrics and innovative designs. “The new range will be available online for purchase in July this year.”
“We have engaged top designers and product experts to help us build a beautiful range of Pumpkin Patch apparel which will remain true to its heritage but at the same time bring a stronger sense of fashion and product innovation to the brand.”
About Catch Group
The Catch Group is one of Australia’s largest diversified e-commerce groups comprising online stores Catch Of The Day, Scoopon, GroceryRun and Mumgo. Founded in 2010 by entrepreneurial brothers Gabby and Hezi Leibovich, the Group built its reputation as a destination to shop for great brands at competitive prices. Each day the group sells an item every 2.8 seconds, ships over 8,000 orders and receives over 450k site visitors a day.
About Pumpkin Patch
Pumpkin Patch is a New Zealand retailer that focuses on the design, marketing, retail, and wholesale of children’s clothing. The company was founded in 1990 and quickly expanded internationally with a strong and loyal customer base. The company closed down operations in 2016 but looks toward revival with this latest update.