Relying on the auction as a proven retail model in the industry, the
company will auction apparel, housewares, electronics, toys, luggage, home
office, jewelry and watches.
CyberShop said its entry into the auction market supports its refocused
merchandising strategy targeting
outlet store and off-price categories. The company sells brand name,
first-quality, end-of-season and excess merchandise.
“Auctions are a natural extension of our core strategy to grow our revenues
and customer base by offering
‘great deals on great brands,'” said Jeffrey Tauber, CyberShop chairman and
chief executive officer.
“With the growing interest in online auctions, we are excited to offer a
new shopping experience that
capitalizes on this demand, offering customers the unique opportunity to
bid for brand name merchandise.”
With the auction site, the company said it plans to
leverage its existing
strategic marketing agreements with sites such as America Online,
Excite, Microsoft’s MSN
Shopping, Yahoo! Shopping, Amazon’s “Shop The Web” and E*Trade’s Shopping Center.