Boxed and Prince & Spring To Be Auctioned

Assets of online warehouse retailer Boxed Inc., now in Chapter 11 bankruptcy protection, are being auctioned off by intellectual property disposition and valuation firm Hilco Streambank.

The suction will be held Monday, July 10. New York-based Hilco said assets for sale include the Boxed’s domain name, customer data, social media accounts, and related items as well as trademarks—including their Vertex Award-winning Prince & Spring private brand—plus.

The deadline for bids closes July 6, and the process includes an opportunity for a “stalking horse” bidder. The company noted that the sale of Boxed’s assets is being conducted under the e-tailer’s Chapter 11 proceedings and requires bankruptcy court approval, with the disposition of the Boxed.com domain name subject to definitive documentation.

“Boxed resonates with both business-to-business (B2B) and business-to-consumer (B2C) customers, offering them the convenience of bulk household essentials delivered to their door, without a membership fee.” Richelle Kalnit, senior vice president at Hilco Streambank, said in a statement. “This offering resonated so deeply with the customer that the brand recently expanded to offer a B2C premium subscription loyalty program, BoxedUp, garnering approximately 32,000 members and generating $21 million in GMV [gross merchandise value] in 2022. Coupled with its one-hour delivery service, Boxed Market, the company’s intangible assets position a buyer favorably for growth.”

By Published On: June 22nd, 2023Tags:

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About the Author: Christopher Durham

Christopher Durham is the president of the Velocity Institute. Prior to this he founded the groundbreaking site My Private Brand. He is the co-founder of The Vertex Awards. He began his retail career building brands at Food Lion and Lowe’s Home Improvement. Durham has worked with retailers around the world, including Albertsons, Family Dollar, Petco, Staples, Office Depot, Best Buy, Metro Canada. Durham has published seven definitive books on private brands, including Fifty2: The My Private Brand Project and Vanguard: Vintage Originals.

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