Bluestar Alliance has been selected as the winning bidder for the Brookstone intellectual property and related assets after a recent auction process. Bluestar said its bid includes cash and other consideration in excess of $80 million.
“We are honored to have been selected as the new owners of the Brookstone brand,” said Joseph Gabbay, CEO of Bluestar Alliance. “There is strong wholesale demand from retailers for Brookstone product, and we are working closely with them to develop a true Brookstone shopping experience within their retail stores and e-commerce shopping channels. To keep the heritage and legacy that the Brookstone customer enjoys, our licensees will be committed to offering excellence in product design, keeping with the brand’s mission of product innovation. Brookstone’s robust product legacy has been the cornerstone of our interest in acquiring the brand. The combination of qualified product design, engineering and a true customer experience will be a big win.”
When the company first reported that it was bidding on Brookstone, Bluestar said it would plan to grow Brookstone’s presence in premium airport locations and wholesale channels and would continue to grow the e-commerce platform.
Ralph Gindi, COO of Bluestar Alliance, added, “Brookstone’s unique presence in airport stores across the U.S. will be the showcase to grow across the globe in places such as Mexico, South America, Europe, Middle East, Southeast Asia, and Australia. The exposure and marketing that comes from these stores is priceless. In addition, Brookstone has over 550 stores in China with plans to expand throughout Asia and an e-commerce platform with opportunity for growth. Our social and marketing teams are excited to get the brand message out there in all the new and existing mediums.”