Kaspien Holdings, Inc. (formerly Trans World Entertainment) is an American company that provides software and services for ecommerce. Kaspien Holdings operates on Amazon in the United States, Canada, United Kingdom, Spain, France, Italy, Germany, the Netherlands, Sweden, and India, as well as Walmart Marketplace,

eBay eBay Inc. ( ) is an American multinational e-commerce company based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995 and became a ...

, Google Shopping, and

Target Target may refer to: Physical items * Shooting target, used in marksmanship training and various shooting sports ** Bullseye (target), the goal one for which one aims in many of these sports ** Aiming point, in field artillery, fi ...

. Its interim CEO is Goldman Sachs veteran Brock Kowalchuk, who took over March 11, 2022.

History

Trans World Entertainment Corporation

Based in

Albany, New York Albany ( ) is the capital of the U.S. state of New York, also the seat and largest city of Albany County. Albany is on the west bank of the Hudson River, about south of its confluence with the Mohawk River, and about north of New York City ...

, Trans World was formed in 1972 by Robert Higgins. It opened its first store, Record Town (formerly Record Land), in 1973. The company went public in July 1986 and has expanded through acquisitions of a number of smaller or failing companies including Strawberries, Coconuts,

Camelot Music Camelot Music was a mall-based American retailer of prerecorded music and accessories and was one of the largest music retailers in the United States based on store count. As of May 31, 1998, the company operated 455 stores in 37 states nationwide ...

, and

Wherehouse Entertainment Wherehouse Entertainment, also known as Wherehouse Music and The Wherehouse, was an American retail music franchise. History In 1983, Wherehouse Entertainment Inc, renamed from Integrity Entertainment Corp, went public with a public offering o ...

. On September 23, 2000, Trans World signed a definitive agreement to acquire the assets of WaxWorks, and the deal was expected to close by the end of October. As part of a 2002 settlement with 41 states over

CD price fixing Between 1995 and 2000 music companies were found to have used illegal marketing agreements such as minimum advertised pricing to artificially inflate prices of compact discs in order to end price wars by discounters such as Best Buy and Target in ...

, Trans World Entertainment, along with retailers

Musicland The Musicland Group, Inc. was an entertainment company that ran Musicland, Sam Goody, Discount Records, Suncoast Motion Picture Company, On Cue, and the Media Play Superstore Chains. The Musicland Group was purchased by Best Buy in 2001 at the he ...

and

Tower Records Tower Records is an international retail franchise and online music store that was formerly based in Sacramento, California, United States. From 1960 until 2006, Tower operated retail stores in the United States, which closed when Tower Records ...

, agreed to pay a $3 million fine. It is estimated that between 1995 and 2000 customers were overcharged by nearly $500 million and up to $5 per album. In February 2006, Trans World acquired the

Group, which owned Musicland, Discount Records,

Sam Goody Sam Goody was a music and entertainment retailer in the United States and United Kingdom, operated by The Musicland Group, Inc. It was purchased by Best Buy in 2000, sold to Sun Capital Partners in 2003, and filed for bankruptcy in 2006, clos ...

, Suncoast Motion Picture Company,

Media Play Media Play was a chain of retail stores founded in 1992 by Musicland that sold VHS, DVDs, music, electronics, toys, video games, anime, books, and board games similar to Hastings Entertainment, 2nd and Charles, and Half Price Books. Each store ...

, and On Cue. The buyout included a handful of

On Cue Sam Goody was a music and entertainment retailer in the United States and United Kingdom, operated by The Musicland Group, Inc. It was purchased by Best Buy in 2000, sold to Sun Capital Partners in 2003, and filed for bankruptcy in 2006, clo ...

stores. Trans World operated at a net loss from 2006 to 2010. In fiscal year 2011 it turned a profit of $2.2 million (compared to a $31 million loss in FY 2010). The company closed some locations and increased margins on its products.

Acquiring etailz, Inc.

In October 2016, Trans World acquired etailz, Inc, a third-party online retailer, for $76 million. etailz was founded in 2008 by Josh Neblett, Sarah Wollnick (now Sarah Neblett), and Tom Simpson as GreenCupboards and had operated as a niche retailer of eco-friendly products. The company rebranded to etailz in 2013 after acquiring Ecomom. In January 2019, etailz laid off 20 percent of its workforce after Trans World reported a $14 million loss in the third quarter of 2018. etailz's founder and CEO left the company shortly thereafter in March 2019. In September 2019, etailz hired a new CEO, Kunal Chopra. In January 2020, Trans World sold its FYE segment for $10 million to Sunrise Records and Entertainment Ltd., severing its ties to physical retail stores and leaving etailz as its only remaining subsidiary. In March 2020, Trans World reconstituted its board of directors and its CEO stepped down. New members joined the board to reinforce the company's focus on ecommerce, including etailz founder Tom Simpson.

Rebranding to Kaspien Holdings

On September 3, 2020, Trans World Entertainment rebranded to Kaspien Holdings. Its remaining subsidiary, etailz, also changed their name to Kaspien, merging the two companies and solidifying the focus on ecommerce.

Formerly owned chains before sale to Sunrise Records

* Coconut's:

Evansville, Indiana Evansville is a city in, and the county seat of, Vanderburgh County, Indiana, United States. The population was 118,414 at the 2020 census, making it the state's third-most populous city after Indianapolis and Fort Wayne, the largest city in ...

: St. Clairsville, Ohio and

Medford, Oregon Medford is a city in and the county seat of Jackson County, Oregon, in the United States. As of the 2020 United States Census on April 1, 2020, the city had a total population of 85,824 and a metropolitan area population of 223,259, making the Me ...

(Formerly nationwide) *Spec's Music:

San Juan, Puerto Rico San Juan (, , ; Spanish for "Saint John") is the capital city and most populous municipality in the Commonwealth of Puerto Rico, an unincorporated territory of the United States. As of the 2020 census, it is the 57th-largest city under the jur ...

* Suncoast Motion Picture Company:

Beaumont, Texas Beaumont is a coastal city in the U.S. state of Texas. It is the county seat, seat of government of Jefferson County, Texas, Jefferson County, within the Beaumont–Port Arthur, Texas, Port Arthur Beaumont–Port Arthur metropolitan area, metropo ...

Eatontown, New Jersey Eatontown is a borough in Monmouth County, in the U.S. state of New Jersey. As of the 2010 Census, the borough's population was 12,709,Omaha, Nebraska Omaha ( ) is the largest city in the U.S. state of Nebraska and the county seat of Douglas County. Omaha is in the Midwestern United States on the Missouri River, about north of the mouth of the Platte River. The nation's 39th-largest cit ...

, and

Portland, Oregon Portland (, ) is a port city in the Pacific Northwest and the largest city in the U.S. state of Oregon. Situated at the confluence of the Willamette and Columbia rivers, Portland is the county seat of Multnomah County, the most populous co ...

. (Formerly nationwide) * SecondSpin.com: Online (sold to Sunrise Records in 2020) * Manifest Discs and Tapes:

Charlotte, North Carolina Charlotte ( ) is the most populous city in the U.S. state of North Carolina. Located in the Piedmont region, it is the county seat of Mecklenburg County. The population was 874,579 at the 2020 census, making Charlotte the 16th-most populo ...

* FYE: Nationwide (mall-based and freestanding)

Defunct

* CD World:

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...

and

Missouri Missouri is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Ranking List of U.S. states and territories by area, 21st in land area, it is bordered by eight states (tied for the most with Tennessee ...

* Disc Jockey: Southern U.S. (mall-based) *

Incredible Universe Incredible Universe was the name of a chain of American consumer electronics stores in the early to mid-1990s. A typical Incredible Universe was of sales floor and warehouse, stocking around 85,000 items.

, joint venture with

Tandy Corporation Tandy Corporation was an American family-owned leather goods company based in Fort Worth, Texas, United States. Tandy Leather was founded in 1919 as a leather supply store. By the end of the 1950s, under the tutelage of then-CEO Charles Tandy, ...

: Nationwide (17 stores; closed in 1996, six stores sold to

Fry's Electronics Fry's Electronics was an American big-box store chain. While operating, it was headquartered in San Jose, California in Silicon Valley. Fry's retailed software, consumer electronics, household appliances, cosmetics, tools, toys, accessories, ma ...

; ) * Leopold's: California *

: Nationwide (closed in 2006) * Music World:

New England New England is a region comprising six states in the Northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. It is bordered by the state of New York to the west and by the Canadian provinces ...

states * On Cue: NationwideAlternate Link
via

ProQuest ProQuest LLC is an Ann Arbor, Michigan-based global information-content and technology company, founded in 1938 as University Microfilms by Eugene B. Power. ProQuest is known for its applications and information services for libraries, provid ...

.Link
via

.Alternate link
via

. * Planet Music:

Virginia Beach Virginia Beach is an independent city located on the southeastern coast of the Commonwealth of Virginia in the United States. The population was 459,470 at the 2020 census. Although mostly suburban in character, it is the most populous city ...

Peaches The peach (''Prunus persica'') is a deciduous tree first domesticated and cultivated in Zhejiang province of Eastern China. It bears edible juicy fruits with various characteristics, most called peaches and others (the glossy-skinned, non-fuz ...

: Nationwide * Record & Tape Traders: Multiple locations in

Baltimore Baltimore ( , locally: or ) is the List of municipalities in Maryland, most populous city in the U.S. state of Maryland, fourth most populous city in the Mid-Atlantic (United States), Mid-Atlantic, and List of United States cities by popula ...

area, last location in

Towson Towson () is an unincorporated community and a census-designated place in Baltimore County, Maryland, United States. The population was 55,197 as of the 2010 census. It is the county seat of Baltimore County and the second-most populous unincorp ...

closed in 2019 * Record Factory: Brisbane, CA * Record Land: Nationwide (mall-based) * Record Town: Nationwide (mall-based) * Record World: Mid-Atlantic and

states (mall-based) * Saturday Matinee: Now only one location at Rockaway Townsquare in

Rockaway, New Jersey Rockaway is a borough in Morris County, New Jersey, United States. As of the 2010 United States Census, the borough's population was 6,438,California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...

Colorado Colorado (, other variants) is a state in the Mountain West subregion of the Western United States. It encompasses most of the Southern Rocky Mountains, as well as the northeastern portion of the Colorado Plateau and the western edge of t ...

Connecticut Connecticut () is the southernmost state in the New England region of the Northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, New York to the west, and Long Island Sound to the south. Its cap ...

Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Del ...

Illinois Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...

Maryland Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to ...

Michigan Michigan () is a state in the Great Lakes region of the upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the 10th-largest state by population, the 11th-largest by area, and the ...

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and So ...

Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...

Texas Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...

Mississippi Mississippi () is a state in the Southeastern region of the United States, bordered to the north by Tennessee; to the east by Alabama; to the south by the Gulf of Mexico; to the southwest by Louisiana; and to the northwest by Arkansas. Miss ...

, and

Pennsylvania Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, ...

* Spec's Music Inc.:

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...

*Spin Street: Tennessee (closed 2017) * Square Circle: Nationwide (mall-based) * Strawberries:

and Mid-Atlantic states * Streetside Records:

, Midwest * Tape World: Nationwide (mall-based) * Vibrations:

South Florida South Florida is the southernmost region of the U.S. state of Florida. It is one of Florida's three most commonly referred to directional regions; the other two are Central Florida and North Florida. South Florida is the southernmost part of th ...

* The Wall: Mid-Atlantic states * Wall To Wall Sound & Video / Listening Booth: Mid-Atlantic states, later converted to The Wall *

Arizona Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a state in the Southwestern United States. It is the 6th largest and the 14th most populous of the 50 states. Its capital and largest city is Phoenix. Arizona is part of the Fou ...

California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...

(formerly Rocky Mountain Records),

Georgia Georgia most commonly refers to: * Georgia (country), a country in the Caucasus region of Eurasia * Georgia (U.S. state), a state in the Southeast United States Georgia may also refer to: Places Historical states and entities * Related to the ...

Louisiana Louisiana , group=pronunciation (French: ''La Louisiane'') is a state in the Deep South and South Central regions of the United States. It is the 20th-smallest by area and the 25th most populous of the 50 U.S. states. Louisiana is borde ...

New Mexico ) , population_demonym = New Mexican ( es, Neomexicano, Neomejicano, Nuevo Mexicano) , seat = Santa Fe , LargestCity = Albuquerque , LargestMetro = Tiguex , OfficialLang = None , Languages = English, Spanish ( New Mexican), Navajo, Ker ...

Oklahoma Oklahoma (; Choctaw language, Choctaw: ; chr, ᎣᎧᎳᎰᎹ, ''Okalahoma'' ) is a U.S. state, state in the South Central United States, South Central region of the United States, bordered by Texas on the south and west, Kansas on the nor ...

Oregon Oregon () is a U.S. state, state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington (state), Washington, while the Snake River delineates much of it ...

Utah Utah ( , ) is a state in the Mountain West subregion of the Western United States. Utah is a landlocked U.S. state bordered to its east by Colorado, to its northeast by Wyoming, to its north by Idaho, to its south by Arizona, and to it ...

, and

Washington Washington commonly refers to: * Washington (state), United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered o ...

; filed for bankruptcy in 2003; Trans World took control of 111 stores and liquidated nearly a third of them Continued as an online buyer/seller until October 9, 2018 when the website closed.

References

External links

*
f.y.e.
{{authority control Music retailers of the United States American companies established in 1972 Retail companies established in 1972 Companies based in Albany, New York Companies listed on the Nasdaq 1972 establishments in New York (state)