Hilco Streambank was retained by an affiliate of Yucaipa to sell the intellectual property of Scoop NYC. Launched under the tag line “The Ultimate Closet”, Scoop NYC pioneered a new retail customer experience for women and men with stores merchandised by color, classification and trend. Shopping at Scoop NYC provided the customer a glimpse into the expertly curated closet of a fashion editor. The brand was coveted for its edited selection of styles – a mix of iconic designers, emerging talent and its own collection – and sophisticated luxury with a cool, evocative twist.
Seeking buyers looking to leverage the goodwill of the Scoop NYC brand in other channels, Hilco Streambank distributed marketing materials to its large database of brand buyers. Ultimately, Walmart purchased the Scoop NYC brand and related intellectual property assets in March, 2017.
In September, 2019, Walmart announced the relaunch of Scoop NYC, repositioning the former boutique as a cutting-edge private label brand. “Long considered a pioneer in boutique shopping, Scoop was beloved by fashionistas and celebrities on the hunt for up-and-coming designers or that perfect piece to complete their look,” according to Walmart’s online fashion chief Denise Incandela.
The Scoop NYC sale provides another example of the bedrock principle upon which Hilco Streambank was founded: that the value of intangible assets such as brands, data and internet assets, is maximized in a sale that considers all potential redeployments of those assets.