Amazing news, you guys: SkyMall is coming back.
After filing for bankruptcy earlier this year, the in-flight catalog was thought to be no more. But thankfully this week, New Jersey-based C&A Marketing revealed that it bought the offbeat publication for $1.9 million.
“Our goal is to bring the SkyMall brand back to its roots, back to the brands, products and technology that relate to all travelers,” C&A executive VP Chaim Pikarski said in a statement.
This is great news for the catalog, which reported a drop in revenue from $33.7 million in 2013 to just $15.8 million in 2014. However, these circumstances aren’t unfamiliar to C&A. The company has a long history of buying out dying companies, like Polaroid and Ritz Camera, and restructuring them to ensure future success.
According to court filings, SkyMall’s parent company said the catalog’s failure had a lot to do with the increasing use of electronic devices on planes. The reasoning is: Why would people browse through SkyMall when they can easily browse through their smartphones, laptops, and tablets? The answer? Novelty.
Where else can you flip through pages of bizarre and eclectic merchandise, like rasta hats, torso toners, grizzly bear slippers and suit T-shirts?
We’re glad the publication has been saved. And we’re crossing our fingers it’s around for years to come.
[via Business Insider]
