Mark Tritton, the CEO of Bed Bath & Beyond announces the sale of One Kings Lane, another enterprise of the mega-retailer. At the time, Tritton refused to disclose the details of the buyer and the price at which the company had been sold.
About One Kings Lane
One Kings Lane is a retailer of goods for high-end homes. It is now under the ownership of a Merrillville, Indiana-based holding company and technology platform; CSC Generation.
Alison Pincus and Susan Feldman together founded One Kings Lane in the year 2009. What started as a flash sale sit soon enlarged in production to become a full-fledged furnishing and home accessories company.
The online site of the company sells products of high-end brands such as Aerin, Aero Studios, Bunny Williams Home and Visual Comfort. One Kings Lane had opened a Manhattan store in SoHo as well as a 3,500-square-foot showroom in Boston in 2018.
The furnishing company was able to rake up a net worth of $1 billion in the year 2014. Despite that, the company was sold to Bed Bath & Beyond two year after that. The sale took place in the form of a cash deal.
About CSC Generation
Justin Yoshimura, an entrepreneur and China Science & Merchants Investment Management Group, a Chinese private equity firm together started CSC Generation in the year 2016.
The company has also bought DirectBuy in 2017 while they were on the verge of bankruptcy. In a joint venture with both KKR and B. Riley, DirectBuy bought Z Gallerie in 2019.
They also own the intellectual property of Bon-Ton, a department store. The company also has its eyes on Kirkland’s and Pier 1, both of which have been in financial distress.