Home Décor Products
 |
|
| Private | |
| Industry | Online retailers, Home improvement retailers |
| Fate | Bankruptcy |
| Founded | In 2000 |
| Defunct | In 2009 |
| Headquarters | Edison, New Jersey |
|
Key people
|
Jon Bernstein, CEO |
| Products | Faucets, sinks, home décor, power tools, barbecue grills, swimming pool supplies |
|
Number of employees
|
150+ |
| Website | www.hdpi.com |
Home Décor Products, Inc. was a large online retailer of home improvement and furnishings, headquartered in Edison, NJ. It claimed to stock more than 450,000 home products from more than 800 luxury brands including TOTO, Lenox, Kohler, and Jacuzzi.[1]
Contents
Business Portfolio
Home Décor Products owned and managed the following electronic commerce sites:
- HomeClick.com (first and flagship site) – retailer of high-end home improvement brands & products
- AbsoluteHome.com – retailer of everyday home improvement merchandise
- Hechinger.com – retailer of power tools and DIY products
- BuildersSquare.com – comparison shopping site for the DIY segment
- Barbecues.com – retailer of high-end barbecue grills and outdoor living merchandise
- ChefsCorner.com – offers culinary tools, small kitchen appliances and tableware
- KnobsandThings.com – large selection of cabinet hardware, door handles and switchplates
- PoolClick.com – pool supplies and accessories retailer
- ChristmasCatalog.com – catalog retailer of holiday decorations, trees and ornaments
History
Home Décor Products was founded in November 2000 with the acquisition of Bathopia, a bath and kitchen e-tailer.[2] Bathopia was best known for operating BathClick.com, an over-priced cheaply-made bath and kitchen fixtures retailer. Bathopia was relaunched as HomeClick.com, primarily an online retailer of bath and kitchen products, with the purpose of allowing the average consumer to purchase items directly online that were typically only available in various showrooms scattered about the country. HomeClick grew quickly in its first few years of existence and expanded its product offering to include appliances, lighting, housewares, and tableware by 2002.
In subsequent years, Home Décor Products expanded its online presence by launching several other websites to leverage its growing product assortment and cater to more consumer segments. Specialty sites such as Barbecues.com, KnobsandThings.com and Poolclick.com followed the launch of AbsoluteHome.com in 2004.[3] In October 2005, Home Décor Products made a notable acquisition by buying the brand name of big-box retailer Hechinger, a brand known for pioneering the do-it-yourself (DIY) movement.[4] HDPI also acquired the assets of DIY brand Builders Square, relaunching it as a vertical comparison shopping engine that exclusively targeted the home & garden market.
HDPI launched an advertising partnership program in June 2007 that would allow the numerous brands and manufacturers that sell through HDPI to message to its broad user base through banner advertising. Charter partners include high-end plumbing fixtures brand Hansgrohe.[5]
HDPI claimed web sales of $83.8 million in 2007, but these figures were later found to be fraudulant. The company had an excess quantity of over-priced and unsellable product and was forced to declare Chapter 7 Bankruptcy on March 26, 2009, and has ceased operations.[6]
Milestones
In 2006, Home Décor Products was recognized as #5 on the Internet Retailer Top 500 List in the Housewares/Home Furnishings category. HDPI was also ranked on the Inc. 500 List of Fastest Growing Companies of 2006.[7]
HDPI announced a capital investment of $65 million from 3i Group, Liberty Media and Comcast Interactive Capital in December 2006.
Company Timeline
2000
- September: HomeClick.com Launches, primarily as a retailer of bath and kitchen products online
- October: Home Décor Products, Inc. is formed as parent company of HomeClick.com
2003
- March: Michael Golden, previous founder of GSI Commerce and Organic, Inc., named as CEO
2004
- February: Seymour Holtzman and Holtzman Opportunity Funds invest $5MM in the Company
- August AbsoluteHome.com launches
- September: Barbecues.com Launches
2005
- February: KnobsandThings.com Launches
- June:
- Home Décor Products moves to a new 270,000-square-foot (25,000 m2) office/warehouse space in Edison, NJ
- Holtzman Opportunity Funds and Kinderhook Partners invests an add’l $7.1MM in the Company
- October: Hechinger.com Launches
2006
- February: PoolClick.com Launches
- June:
- ChefsCorner.com Launches
- Michael Golden Named Best Executive at American Business Awards
- July: Cliquidate.com Launches
- August: Home Décor Products named to Inc. 500
- November: Home Décor Products Purchases NationBlinds.com
- December: Home Décor Products Secures $65 Million in Private Funding from 3i, Liberty Associated Group and Comcast Interactive
2007
- August: Jonathan Bernstein, former president of Smith+Noble, named as CEO
2009
- March: Chapter 7 bankruptcy
References
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