TOTOWA, N.J.–Popular Club, the catalog and Internet retailer, has been purchased by partnership consisting of the management of Ronco and an undisclosed New York-based hedge fund.
The new owners intend to run the company as an independent entity, following the asset purchase of its former parent company, DMSI, according to a statement from Popular Club. Its chairman and interim chief executive officer is Larry Nusbaum, Ronco’s chairman, president and CEO, who purchased Ronco along with an unnamed hedge fund in May. Popular Club’s catalog offers housewares, home-improvement products, cosmetics, apparel and jewelry, and targets consumers who live in urban areas.
In a statement, Nusbaum described the Popular Club as a “perennial brand with a rich history and unique business model. The business has been neglected for the past few years, but with professional systems and management [and] the inclusion of a strong overseas capability, the business can be scaled quickly and profitably.”