B&N Ed Acquires Promoversity so it Can Sell More Branded Merch.
As I am sure you could guess, college bookstores make a lot of money off of gear carrying a college’s logo or sports team. With their latest acquisition, B&N Education is hoping to cash in on that market.
B&N Ed announced on Thursday that it had bought Promoversity, "a custom merchandise supplier and e-commerce storefront solution serving the collegiate bookstore business and its customers".
Promoversity is more or less the CafePress for the college market, and it already has a bunch of partners including B&N Ed, UC Davis, and Emory University. The press release says that this will let B&N Ed "customize its e-commerce offerings and drive on-campus apparel sales".
“Through our close partnerships with more than 740 campuses nationwide, we learned that alumni and fans were seeking a more streamlined athletic-only approach to making athletic and collegiate purchases,” Joel Friedman, vice president and chief merchandising officer, Barnes & Noble College, said in the press release. “By acquiring Promoversity, we’re building upon our localized campus solutions and creating more enjoyable, convenient shopping experiences while also streamlining production on the back end.”
The financial terms have not been revealed, but the press release did say that Illinois-based Promoversity will become a wholly owned subsidiary of Barnes & Noble Ed. It will continue to operate independently under the leadership of the existing management team which will manage the company’s day-to-day operations and support all of its customers.
image by Brad Clinesmith