Kaspien Holdings, Inc. (formerly Trans World Entertainment) was an American company that provided software and services for ecommerce. Kaspien Holdings operates on Amazon in the United States, Canada, United Kingdom, Spain, France, Italy, Germany, the Netherlands, Sweden, and India, as well as Walmart Marketplace,

eBay eBay Inc. ( , often stylized as ebay) is an American multinational e-commerce company based in San Jose, California, that allows users to buy or view items via retail sales through online marketplaces and websites in 190 markets worldwide. ...

, Google Shopping, and Target. Its interim CEO was Goldman Sachs veteran Brock Kowalchuk, who took over March 11, 2022.

History

Trans World Entertainment Corporation

Based in

Albany, New York Albany ( ) is the List of capitals in the United States, capital city of the U.S. state of New York (state), New York. It is located on the west bank of the Hudson River, about south of its confluence with the Mohawk River. Albany is the oldes ...

, Trans World was formed in 1972 by Robert Higgins. It opened its first store, Record Town (formerly Record Land), in 1973. The company went public in July 1986 and has expanded through acquisitions of a number of smaller or failing companies including Strawberries, Coconuts, Camelot Music, and Wherehouse Entertainment. On September 23, 2000, Trans World signed a definitive agreement to acquire the assets of WaxWorks, and the deal was expected to close by the end of October. As part of a 2002 settlement with 41 states over CD price fixing, Trans World Entertainment, along with retailers

Musicland The Musicland Group, Inc. was an entertainment company that ran Musicland, Sam Goody, Discount Records, Suncoast Motion Picture Company, On Cue, and the Media Play Superstore Chains. The Musicland Group was purchased by Best Buy in 2001 at the ...

and

Tower Records Tower Records is an international retail franchising, franchise and online music store that was formerly based in Sacramento, California, United States. From 1960 until 2006, Tower operated retail stores in the United States, which closed when ...

, agreed to pay a $3 million fine. It is estimated that between 1995 and 2000 customers were overcharged by nearly $500 million and up to $5 per album. In February 2006, Trans World acquired the

Group, which owned Musicland, Discount Records, Sam Goody, Suncoast Motion Picture Company, Media Play, and On Cue. The buyout included a handful of On Cue stores. Trans World operated at a net loss from 2006 to 2010. In fiscal year 2011 it turned a profit of $2.2 million (compared to a $31 million loss in FY 2010). The company closed some locations and increased

margins Margin may refer to: Physical or graphical edges *Margin (typography), the white space that surrounds the content of a page *Continental margin, the zone of the ocean floor that separates the thin oceanic crust from thick continental crust *Leaf ...

on its products.

Acquiring etailz, Inc.

In October 2016, Trans World acquired etailz, Inc, a third-party online retailer, for $76 million. etailz was founded in 2008 by Josh Neblett, Sarah Wollnick (now Sarah Neblett), and Tom Simpson as GreenCupboards and had operated as a niche retailer of eco-friendly products. The company rebranded to etailz in 2013 after acquiring Ecomom. In January 2019, etailz laid off 20 percent of its workforce after Trans World reported a $14 million loss in the third quarter of 2018. etailz's founder and CEO left the company shortly thereafter in March 2019. In September 2019, etailz hired a new CEO, Kunal Chopra. In January 2020, Trans World sold its FYE segment for $10 million to Sunrise Records and Entertainment Ltd., severing its ties to physical retail stores and leaving etailz as its only remaining subsidiary. In March 2020, Trans World reconstituted its board of directors and its CEO stepped down. New members joined the board to reinforce the company's focus on ecommerce, including etailz founder Tom Simpson.

Sale and rebranding to Kaspien Holdings

On September 3, 2020, Trans World Entertainment rebranded to Kaspien Holdings (the name "Trans World Entertainment" was sold to Sunrise Records). Its remaining subsidiary, etailz, also changed their name to Kaspien, merging the two companies and solidifying the focus on ecommerce.

Closure

In December 2023, Kaspien announced it would wind down operations and close permanently on May 1, 2024.

Formerly owned chains before sale to Sunrise Records

* Coconuts Movies & Music:

Evansville, Indiana Evansville is a city in Vanderburgh County, Indiana, United States, and its county seat. With a population of 118,414 at the 2020 United States census, 2020 census, it is Indiana's List of cities in Indiana, third-most populous city after India ...

(Formerly nationwide) * Sam Goody: St. Clairsville, Ohio and

Medford, Oregon Medford is a city in and the county seat of Jackson County, Oregon, in the United States. As of the 2020 United States census on April 1, 2020, the city had a total population of 85,824, making it the List of cities in Oregon, eighth-most populo ...

(Formerly nationwide) *Spec's Music:

San Juan, Puerto Rico San Juan ( , ; Spanish for "Saint John the Baptist, John") is the capital city and most populous Municipalities of Puerto Rico, municipality in the Commonwealth (U.S. insular area), Commonwealth of Puerto Rico, an unincorporated territory of the ...

* Suncoast Motion Picture Company:

Beaumont, Texas Beaumont is a city in the U.S. state of Texas. It is the county seat of Jefferson County, Texas, Jefferson County, within the Beaumont–Port Arthur metropolitan area, located in Southeast Texas on the Neches River about east of Houston (city ...

, Eatontown, New Jersey,

Omaha, Nebraska Omaha ( ) is the List of cities in Nebraska, most populous city in the U.S. state of Nebraska. It is located in the Midwestern United States along the Missouri River, about north of the mouth of the Platte River. The nation's List of United S ...

, and

Portland, Oregon Portland ( ) is the List of cities in Oregon, most populous city in the U.S. state of Oregon, located in the Pacific Northwest region. Situated close to northwest Oregon at the confluence of the Willamette River, Willamette and Columbia River, ...

. (Formerly nationwide) * SecondSpin.com: Online (sold to Sunrise Records in 2020) * Manifest Discs and Tapes:

Charlotte, North Carolina Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina and the county seat of Mecklenburg County, North Carolina, Mecklenburg County. The population was 874,579 at the 2020 United ...

* FYE: Nationwide (mall-based and freestanding)

Defunct

* Camelot Music * CD World:

New Jersey New Jersey is a U.S. state, state located in both the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. Located at the geographic hub of the urban area, heavily urbanized Northeas ...

and

Missouri Missouri (''see #Etymology and pronunciation, pronunciation'') is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Ranking List of U.S. states and territories by area, 21st in land area, it border ...

* Disc Jockey: Southern U.S. (mall-based) * Incredible Universe, joint venture with

Tandy Corporation Tandy Corporation was an American family-owned Retail, retailer based in Fort Worth, Texas that made leather goods, operated the RadioShack chain, and later built personal computers. Tandy Leather was founded in 1919 as a leather supply store ...

: Nationwide (17 stores; closed in 1996, six stores sold to Fry's Electronics; ) * Leopold's: California * Media Play: Nationwide (closed in 2006) * Music World:

New England New England is a region consisting of six states in the Northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. It is bordered by the state of New York (state), New York to the west and by the ...

states * On Cue: Nationwide * Planet Music:

Virginia Beach Virginia Beach (colloquially VB) is the List of cities in Virginia, most populous city in the Commonwealth (U.S. state), U.S. commonwealth of Virginia. The city is located on the Atlantic Ocean at the mouth of the Chesapeake Bay in southeaster ...

* Peaches: Nationwide * Record & Tape Traders: Multiple locations in

Baltimore Baltimore is the most populous city in the U.S. state of Maryland. With a population of 585,708 at the 2020 census and estimated at 568,271 in 2024, it is the 30th-most populous U.S. city. The Baltimore metropolitan area is the 20th-large ...

area, last location in Towson closed in 2019 * Record Factory: Brisbane, CA * Record Land: Nationwide (mall-based) * Record Town: Nationwide (mall-based) * Record World: Mid-Atlantic and

states (mall-based) * Saturday Matinee: Now only one location at Rockaway Townsquare in

Rockaway, New Jersey Rockaway is a borough in Morris County, in the U.S. state of New Jersey. As of the 2020 United States census, the borough's population was 6,598, an increase of 160 (+2.5%) from the 2010 census count of 6,438, which in turn reflected a decl ...

; other locations closed or converted to Suncoast; previously operated in

California California () is a U.S. state, state in the Western United States that lies on the West Coast of the United States, Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares Mexico–United States border, an ...

Colorado Colorado is a U.S. state, state in the Western United States. It is one of the Mountain states, sharing the Four Corners region with Arizona, New Mexico, and Utah. It is also bordered by Wyoming to the north, Nebraska to the northeast, Kansas ...

Connecticut Connecticut ( ) is a U.S. state, state in the New England region of the Northeastern United States. It borders Rhode Island to the east, Massachusetts to the north, New York (state), New York to the west, and Long Island Sound to the south. ...

Delaware Delaware ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic and South Atlantic states, South Atlantic regions of the United States. It borders Maryland to its south and west, Pennsylvania to its north, New Jersey ...

Illinois Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. It borders on Lake Michigan to its northeast, the Mississippi River to its west, and the Wabash River, Wabash and Ohio River, Ohio rivers to its ...

Maryland Maryland ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic region of the United States. It borders the states of Virginia to its south, West Virginia to its west, Pennsylvania to its north, and Delaware to its east ...

Michigan Michigan ( ) is a peninsular U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, Upper Midwestern United States. It shares water and land boundaries with Minnesota to the northwest, Wisconsin to the west, ...

, New York,

North Carolina North Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, South Carolina to the south, Georgia (U.S. stat ...

Virginia Virginia, officially the Commonwealth of Virginia, is a U.S. state, state in the Southeastern United States, Southeastern and Mid-Atlantic (United States), Mid-Atlantic regions of the United States between the East Coast of the United States ...

Texas Texas ( , ; or ) is the most populous U.S. state, state in the South Central United States, South Central region of the United States. It borders Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the we ...

Mississippi Mississippi ( ) is a U.S. state, state in the Southeastern United States, Southeastern and Deep South regions of the United States. It borders Tennessee to the north, Alabama to the east, the Gulf of Mexico to the south, Louisiana to the s ...

Pennsylvania Pennsylvania, officially the Commonwealth of Pennsylvania, is a U.S. state, state spanning the Mid-Atlantic (United States), Mid-Atlantic, Northeastern United States, Northeastern, Appalachian, and Great Lakes region, Great Lakes regions o ...

and

Ohio Ohio ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Erie to the north, Pennsylvania to the east, West Virginia to the southeast, Kentucky to the southwest, Indiana to the ...

* Spec's Music Inc.:

Florida Florida ( ; ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders the Gulf of Mexico to the west, Alabama to the northwest, Georgia (U.S. state), Georgia to the north, the Atlantic ...

*Spin Street: Tennessee (closed 2017) * Square Circle: Nationwide (mall-based) * Strawberries:

and Mid-Atlantic states * Streetside Records:

, Midwest * Tape World: Nationwide (mall-based) * Vibrations:

South Florida South Florida, sometimes colloquially shortened to SoFlo, is the Regions of the United States#Florida, southernmost region of the U.S. state of Florida. It is one of Florida's three most commonly referred to directional regions; the two others are ...

* The Wall: Mid-Atlantic states * Wall To Wall Sound & Video / Listening Booth: Mid-Atlantic states, later converted to The Wall * Wherehouse Entertainment:

Arizona Arizona is a U.S. state, state in the Southwestern United States, Southwestern region of the United States, sharing the Four Corners region of the western United States with Colorado, New Mexico, and Utah. It also borders Nevada to the nort ...

(formerly Rocky Mountain Records),

Georgia Georgia most commonly refers to: * Georgia (country), a country in the South Caucasus * Georgia (U.S. state), a state in the southeastern United States Georgia may also refer to: People and fictional characters * Georgia (name), a list of pe ...

Louisiana Louisiana ( ; ; ) is a state in the Deep South and South Central regions of the United States. It borders Texas to the west, Arkansas to the north, and Mississippi to the east. Of the 50 U.S. states, it ranks 31st in area and 25 ...

New Mexico New Mexico is a state in the Southwestern United States, Southwestern region of the United States. It is one of the Mountain States of the southern Rocky Mountains, sharing the Four Corners region with Utah, Colorado, and Arizona. It also ...

Oklahoma Oklahoma ( ; Choctaw language, Choctaw: , ) is a landlocked U.S. state, state in the South Central United States, South Central region of the United States. It borders Texas to the south and west, Kansas to the north, Missouri to the northea ...

Oregon Oregon ( , ) is a U.S. state, state in the Pacific Northwest region of the United States. It is a part of the Western U.S., with the Columbia River delineating much of Oregon's northern boundary with Washington (state), Washington, while t ...

Utah Utah is a landlocked state in the Mountain states, Mountain West subregion of the Western United States. It is one of the Four Corners states, sharing a border with Arizona, Colorado, and New Mexico. It also borders Wyoming to the northea ...

, and Washington; filed for bankruptcy in 2003; Trans World took control of 111 stores and liquidated nearly a third of them Continued as an online buyer/seller until October 9, 2018, when the website closed.

References

External links

*
f.y.e.
{{authority control Music retailers of the United States American companies established in 1972 Retail companies established in 1972 Companies based in Albany, New York Companies listed on the Nasdaq 1972 establishments in New York (state)