Fingerhut Acquires Brownstone and Lew Magram
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by Chief Marketer Staff
Catalog and online retailer Fingerhut Cos. Inc. has acquired two women’s apparel catalogs, Brownstone and Lew Magram.
The two catalogs were owned by StyleSite Marketing Inc., which filed Chapter 11 bankruptcy protection in January. Terms of the deal were not disclosed.
In a bankruptcy court sale, Fingerhut purchased assets that included inventory, trademarks and customer lists. The merchandising and creative staffs of the two catalogs are expected to remain largely in tact, the company said.
Fingerhut did not acquire warehouses and telemarketing as part of the purchase.
Fingerhut, a wholly-owned unit of Federated Department Stores Inc., expects to run the new business under the direction of its subsidiary Arizona Mail Order Co. Inc.
