Retail Ventures was a holding company originally created in 2003 for DSW (NYSE: DSW),

Filene's Basement Filene's Basement, also called The Basement, was a Massachusetts-based chain of department stores which was owned by Retail Ventures, Inc. until April 2009 when it was sold to Syms. The oldest off-price retailer in the United States, Filene's B ...

, and

Value City Value City was an American discount department store chain with 113 locations. It was founded in 1917 by Ephraim Schottenstein, a travelling salesman in central Ohio. The store was an off-price retailer that sold clothing, jewelry, and home good ...

Department Stores. The retailer's

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

was in 1991 under the

name. Value City went on to purchase the DSW shoe business in 1998 and

in 2000. Schottenstein Stores Corp. of Columbus, which held controlling interest of Retail Ventures, also held a stake in the 221-store DSW chain.

Jay Schottenstein Jay Schottenstein (born 1954) is an entrepreneur from Columbus, Ohio. He is the chairman and CEO of Schottenstein Stores Corporation, American Eagle Outfitters, and American Signature. He is the Executive Chairman of Designer Brands. Early life ...

, chairman and CEO of DSW, was chairman of Retail Ventures and heads Schottenstein Stores Corp. Value City Stores were known as Schottenstein's in the

Columbus, Ohio Columbus () is the state capital and the most populous city in the U.S. state of Ohio. With a 2020 census population of 905,748, it is the 14th-most populous city in the U.S., the second-most populous city in the Midwest, after Chicago, an ...

market in honor of its founder Ephraim Schottenstein, but the name was dropped after Value City was sold to

Burlington Coat Factory Burlington, formerly known as Burlington Coat Factory, is an American national off-price department store retailer, and a division of Burlington Coat Factory Warehouse Corporation with more than 1,000 stores in 40 states and Puerto Rico, with i ...

. Retail Ventures Inc stated in December 2006 that it had retained

Financo, Inc. Financo, Inc. is a New York City, New York-based boutique investment bank focused on the merchandising and retail sector, with offices also in Los Angeles and London. It was founded in 1971 by Gilbert Harrison. About History Financo was founde ...

and CIBC World Markets Corp to advise it about "strategic alternatives", including a possible sale, for its Value City Department Stores division. Retail Ventures Inc announced on January 23, 2008 the disposition of an 81% ownership interest in its

Department Stores business to VCHI Acquisition Co., a newly formed entity owned by VCDS Acquisition Holdings, LLC, Emerald Capital Management LLC and Crystal Value, LLC. In connection with the sale, Retail Ventures, Inc.'s wholly owned subsidiary Filene's Basement, Inc. entered into a $100 million secured credit facility with National City Business Credit, Inc. Terms of the credit facility are similar to the predecessor $275 million secured credit facility that was jointly shared with Value City Department Stores and was terminated and replaced as of the date of the transaction. This transaction does not impact Value City Furniture Stores, which are separately owned and operated. Retail Ventures, Inc. continues to operate 259 DSW stores in major metropolitan areas throughout the country. DSW also supplies shoes, under supply arrangements, to 342 locations for other non-affiliated retailers in the United States.Press release 11/23/0

Retrieved January 23, 2008 The number of employees and

employee benefits Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, or perks) include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. Inst ...

are planned to remain the same as this transfer of ownership occurs and the new owners begin to operate Value City. Retail Ventures announced its merger with DSW in February 2011.

Stores

* DSW Through related companies: *

American Eagle Outfitters American Eagle Outfitters, Inc., also known as American Eagle, is an American lifestyle, clothing, and accessories retailer headquartered at SouthSide Works in Pittsburgh, Pennsylvania. It was founded in 1977 by brothers Jerry and Mark Silverma ...

Value City Furniture American Signature, Inc. is a privately owned furniture company based in Columbus, Ohio. It is the parent company of the retail brands American Signature Furniture and Value City Furniture, and the manufacturer brand American Signature. Ameri ...

American Signature American Signature, Inc. is a privately owned furniture company based in Columbus, Ohio. It is the parent company of the retail brands American Signature Furniture and Value City Furniture, and the manufacturer brand American Signature. Ameri ...

External links

RVI official website

References

Companies based in the Columbus, Ohio metropolitan area Retail companies established in 2003 {{retail-company-stub