Crabtree and Evelyn was once a household name in the realm of upscale bath, body, and home products.
However, in the last few years, the company has experienced substantial modifications. The company, which is well-known for its extensive gift and fragrance offerings and historic English heritage, has encountered difficulties that have forced it to modify its business strategy and footprint in the retail industry.
This piece dives into the history of Crabtree and Evelyn, examining the elements that led to the firm’s change and its present situation.
The Rise of Crabtree & Evelyn
Cyrus Harvey launched Crabtree & Evelyn in 1972. The firm began as a modest, family-run enterprise that specialized in high-quality soaps from throughout the globe. It gained recognition fast for its unique scents, exquisitely presented presents, and naturally derived goods.
The English crabapple tree, prized for its aesthetic qualities and practical applications in home pharmacy, and the 17th-century botanist John Evelyn served as the inspiration for the brand’s name.
Version 1.0.0
In spite of its devoted clientele and well-known brand, Crabtree & Evelyn encountered financial challenges in the latter part of the 2000s.
The company found it difficult to adjust to the quickly evolving retail landscape, which witnessed a fall in traditional brick-and-mortar storefronts and a trend towards internet purchasing.
Crabtree & Evelyn Bankruptcy
Crabtree & Evelyn declared bankruptcy in the United States under Chapter 11 in 2009. This action was a component of a plan to resolve the company’s financial difficulties and reorganize its business. The brand was purchased by Nan Hai Corporation, a Hong Kong-based corporation, in 2012 after the bankruptcy.
Rebranding was the first step Crabtree & Evelyn took after changing hands. Reinventing its product ranges, packaging, and general brand image were all part of this. The company maintained its core ideals of organic components and high-quality products, but it also tried to appeal to a younger audience.
Acknowledging the significance of electronic commerce, Crabtree & Evelyn strategically decided to switch to an online-only retail model.
What led to Crabtree and Evelyn’s bankruptcy?
Financial difficulties made worse by the economic meltdown of 2008, difficulties running actual retail stores, and the requirement for reorganization all played a major role in Crabtree & Evelyn’s bankruptcy.
How has Crabtree & Evelyn changed since its acquisition?
Crabtree & Evelyn has redesigned its brand with new product lines, an online-first retail strategy, and an emphasis on environmentally friendly practices and creativity since being acquired by Nan Hai Corporation.
Ghgossip.com
Categories: News
Source: thpttranhungdao.edu.vn/en/
