Hammacher Schlemmer's new owners vow to turn it into "Kickstarter without the risk"
"All the excitement of discovery, none of the broken promises," says Stores.com
New York, NY — Stores.com announced today it has acquired Hammacher Schlemmer, aiming to reclaim the 178-year-old brand's mantle as the store that brought new innovations like the pop-up toaster, the microwave oven, the electric blender, the Mr. Coffee machine, the electric toothbrush, and the cordless phone to American homes.
"Hammacher was viral before the Internet," says Matt Rutledge, CEO of Stores.com and founder and ex-CEO of Woot.com. "It was Kickstarter before Kickstarter: the most exciting place to find crazy useful new products. The difference is, everyone who orders from Hammacher gets what they pay for."
The latest stewards of Hammacher Schlemmer are currently scouting new products originating both inside and outside of the Kickstarter ecosystem. The strategy is to offer the most exciting innovations that have actually been manufactured and made it into the market, rather than speculative projects with a risk of failure.
"By their own definition, Kickstarter isn't a store, which is true because no store could stay in business failing to fulfill 9% of their customers' orders with no refund," Rutledge says, citing Kickstarter's own studies into unfulfilled projects.
A study by Professor Ethan Mollick of the Wharton School finds that Kickstarter failure percentages in some categories, like technology, run into the mid-teens. Delivery was delayed for one in four Kickstarter projects by an average of 2.4 months.
"Kickstarter's a great place to back interesting new ideas," Rutledge says. "I'm an avid user myself. But there's always a chance you could lose your money, or wait forever. Hammacher Schlemmer's here for anybody with a taste for innovation who doesn't want to go out on that limb with Kickstarter."
The new Hammacher Schlemmer not only guarantees customers will receive their orders, but that they'll be happy with them, by continuing the company's signature Lifetime Guarantee of Satisfaction.
"In an algorithmized, commoditized, throwaway era, when most retailers are nickel-and-diming customers on return policies, a Lifetime Guarantee of Satisfaction borders on absurd in the best possible way. We're keeping that promise alive. If future generations are going to understand what great service feels like, someone has to keep saying 'we'll make it right' long after everyone else has moved on."
Matt Rutledge, CEO of Stores.com, Inc.
Hammacher Schlemmer's next act is underway at hammacher.com, with more surprises in the works.
About Stores.com, Inc.
Stores.com, Inc. is a multi-brand e-commerce company serving 17+ million customers across a growing portfolio of brands. The company operates MorningSave, Meh, Hammacher Schlemmer, SideDeal, and Shop Univision. Co-founded by Matt Rutledge, Shawn Miller, Luke Duff, and Dave Rutledge, Stores.com, Inc. is headquartered in Dallas, Texas.
Learn more at stores.com.
Press Contact
Jason Toon, Head of Brand Narrative
jason@stores.com