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Bebe Stores

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Bebe Stores, Inc.
Company typePublic
OTCQB: BEBE
IndustryRetail
FoundedJune 7, 1976; 48 years ago (1976-06-07)
San Francisco, California, U.S.
Headquarters400 Valley Drive,
Brisbane, California, U.S.
Number of locations
1
Key people
Manny Mashouf (Founder and CEO), Kenneth M. Young (Director), Perry Mandarino (Director)
ProductsApparel
RevenueIncrease US$603 million (FY 2009)[1]
Increase US$16.6 million (FY 2009)[1]
Increase US$12.6 million (FY 2009)[1]
Total assetsDecrease US$571 million (FY 2009)[2]
Total equityDecrease US$459 million (FY 2009)[2]
Number of employees
4,433 (2008)
Websitewww.bebe.com

Bebe Stores, Inc. /biːbiː/ (stylized in all lowercase)[3] is a women's retail brand that was established in 1976. The brand develops and produces a line of women's apparel, accessories, and perfume fragrances, which it markets under the "bebe" or "Bebe Sport" or "Bebe Outlet" names.

On April 21, 2017, bebe announced it would close its remaining 168 brick-and-mortar locations to sell products online as web sales.[4]

History

The company was founded by Iranian-American businessman Manny Mashouf in 1976, where he opened the first bebe store in San Francisco[5] during a time when three categories dominated the women's wear market: junior, bridge and misses.[citation needed]

The name "bebe" is derived from the soliloquy from Shakespeare's play Hamlet in which the eponymous Prince ponders: "To be or not to be..."[6] Founder Manny Mashouf came up with the name after a conversation at a party he attended in San Francisco during the 1970s, shortly before he established the brand.[citation needed] However, the company's name was "Babe, Inc." until it held its initial public offering in 1998.[7]

Mashouf has owned approximately 55% of the company.[8] It was announced in 2015 that Mashouf was to sell his 59% stake in bebe.[9]

In 2014, a Telephone Consumer Protection Act class action lawsuit was filed against Bebe Stores, Inc. The plaintiff sought to certify a nationwide class consisting of all people who provided their cell phone numbers to bebe at one of its brick-and-mortar stores and subsequently received text messages from bebe at any point from January 2010 through the present (the Class Period was later certified to begin October 16, 2013, when governing law took effect).[10]

In March 2017, bebe announced that it would close all stores in 2017, and become an online-only retailer.[11]

Bebe has partnered with Global Brands Group to keep its e-commerence and its international stores in operations since June 2017. A new lifestyle concept store was opened in New York City in March 2018.[12]

Stores

Bebe stores headquarters in Brisbane
A bebe store at Aventura Mall in Aventura, Florida.

The company has operated 312 stores, of which 215 are bebe stores, 32 are 2b Bebe stores, 64 are BebeSport stores (this includes Bebe BebeSport 2-in-1 stores), and one is a Bebe accessories store. These are located in the United States, Puerto Rico, the U.S. Virgin Islands and Canada. Bebe also has international divisions in Lebanon, Kuwait, Egypt, Israel, Singapore, Indonesia, Malaysia, Mexico, Russia, Saudi Arabia, Thailand, Turkey, and UAE.

In 1976, the first store was launched on Polk Street in San Francisco as bebe.[13][14][15] The company launched BebeSport in year 2003 to focus on active lifestyle by means of sportswear, tops, sweaters, outerwear, and accessories. In 2009, BebeSport stores were converted to PH8, with BebeSport product now sold in bebe and 2b Bebe stores. The company converted BebeSport stores to PH8 stores in November 2009. PH8 offers casual weekend apparel, work-out attire and accessories such as bags, shoes and seasonal items.[citation needed] Bebe's outlet division 2b Bebe provided clearance merchandise, logo merchandise and special cuts produced under the 2b Bebe label exclusively for the outlet stores.[16]

In 2012, bebe launched a bridal wear line which was available in stores throughout the United States. The line debuted with a collection designed by Project Runway runner up Rami Kashou.[17] Additional bridal salons were under consideration; however, the business venture was eventually ditched due to poor sales.

On April 21, 2017, bebe made an announcement that it would close its remaining 175 brick-and-mortar locations. The company anticipated a charge of approximately $20 million as a result of the store closures. The company said it expected to incur losses in sales with the closures, but did not disclose the estimate.[4][18]

In January 2019, bebe launched a revamped e-commerce platform and loyalty program developed by outsourced e-commerce company Branded Online.[19][20]

Marketing

To further brand exposure, the company signs celebrities for ad campaigns. Brenda Song was the face of bebe's 2007 ad campaign. The company signed actresses Rebecca Romijn as the face of bebe from spring 2007 through spring 2008 and Eva Longoria as the face of BebeSport from spring 2007 through spring 2009.[16] Mischa Barton was the face of bebe's 2006 ad campaign.

In 2007, bebe selected advertising agency MD70,[21] with creative direction by Fredrik Peterhoff[22] to produce Bebe Holiday, Bebe Sports, and Bebe Accessories' spring 2009 campaigns.[23] Photographed by Camilla Åkrans, styled by Julia von Boehm and shot in Beverly Hills, Los Angeles, the bebe spring campaign featured model Anne Marie van Dijk. The campaign appeared in the February and March issues of Vogue, Elle, Cosmopolitan, and Glamour, as well as on billboards and phone kiosks in New York, Los Angeles, and Las Vegas. A campaign video ran in stores and online on the bebe YouTube channel. Singer Bebe Rexha was the promotion campaign face in 2019.[24]

Events

Bebe has semi-annual collection preview events where clients are invited to preview the latest collections at bebe stores. The company partners with national and regional magazines to host events benefiting non-profit organizations.[25]

Design and manufacturing

The company designs and develops the majority of merchandise in-house with outsourced manufacturing.

Executives

On August 9, 2010, Emilia Fabricant became president of Bebe Stores. She reported directly to CEO Manny Mashouf and her core responsibilities included oversight of design, marketing, merchandising, Internet sales, production, and retail planning. In 2012 she left to take a position at Aéropostale. Mashouf decided to take a lesser role as a non-executive chairman and hired Steve Birkhold as CEO. Birkhold has extensive experience in retail as US CEO of Diesel Jeans and CEO of Lacoste.[26] Upon Birkhold's resignation in June 2014, the board of directors appointed Jim Wiggett, currently chief executive officer of Jackson Hole Group, as Interim Chief Executive Officer of bebe. On December 15, 2014, bebe announced that Wiggett had been named chief executive officer and appointed to the company's board of directors, effective immediately.[27]

See also

References

  1. ^ a b c Bebe stores (BEBE) annual SEC income statement filing via Wikinvest
  2. ^ a b Bebe stores (BEBE) annual SEC balance sheet filing via Wikinvest
  3. ^ "Sexy Clothing & Chic Contemporary Fashion - bebe". www.bebe.com. Archived from the original on November 2, 2013. Retrieved March 12, 2018.
  4. ^ a b Rizzo, Lillian (April 21, 2017). "Retailer Bebe Plans to Close Its Stores". The Wall Street Journal. Retrieved April 23, 2017.
  5. ^ "SEC 10-K filing by Bebe stores, inc". July 2009. Retrieved March 12, 2018.
  6. ^ Bently, Colleen. "Manny Mashouf (2008)". Honorary Degrees - The California State University. (site). Retrieved December 9, 2012.
  7. ^ Bebe Stores, Inc. Form S-1 Registration Statement Under The Securities Act of 1933, April 17, 1998.
  8. ^ "def14a". www.sec.gov. Retrieved March 12, 2018.
  9. ^ "Blogs Overview Page - UBM Fashion". www.magiconline.com. Retrieved March 12, 2018.
  10. ^ Melita Meyer, et al., v. Bebe Stores, Inc., WL 431148 (N.D. Cal. February 2, 2015) ("Beginning on October 16, 2013, regulations became effective requiring prior express written consent before "deliver[ing] or caus[ing] to be delivered to the person called advertisements or telemarketing messages using an [automated dialer].").
  11. ^ "Bebe Plans to Shut Its Stores and Focus on Web Sales". bloomberg.com. March 21, 2017.
  12. ^ "First Look: bebe, New York City". Chain Store Age. March 13, 2018. Retrieved March 14, 2018.
  13. ^ "Mashouf, Manny". Encyclopedia.com. Retrieved March 5, 2023.
  14. ^ Zack, Jessica (August 5, 2015). "Crazy '70s San Francisco through a teen's eyes". San Francisco Chronicle. Retrieved March 5, 2023.
  15. ^ Nicola, Gloria. "The Essence of Being bebe". 2020mag.com. Retrieved March 5, 2023.
  16. ^ a b United States SEC data
  17. ^ Crotty, Nora. "Rami Kashou Talks His New Bridal Line for Bebe, Says Project Runway Is Just 'a Game Show'". Fashionista. Retrieved January 12, 2013.
  18. ^ Thomas, Lauren (April 21, 2017). "Clothing retailer Bebe announces closure of all 175 of its stores". CNBC. Retrieved August 13, 2019.
  19. ^ PYMNTS (January 16, 2019). "Bebe Launches Revamped Online Store, Loyalty Program". PYMNTS.com. Retrieved August 13, 2019.
  20. ^ "Bebe debuts new online store, loyalty program". Chain Store Age. January 15, 2019. Retrieved August 13, 2019.
  21. ^ "MD70". Retrieved March 12, 2018.
  22. ^ "Fredrik Peterhoff". Archived from the original on March 6, 2009. Retrieved March 12, 2018.
  23. ^ Graphis Archived March 6, 2009, at the Wayback Machine, Grapgis Profils, 2009
  24. ^ "Bebe fashion retailer teams up with Bebe Rexha to launch body-positiv "Bebe loves Bebe" campaign". August 5, 2019. Retrieved August 24, 2023.
  25. ^ https://www.sec.gov/Archives/edgar/data/1059272/000110465907069182/a07-23570_110k.htm [bare URL]
  26. ^ "Sheikha Mozah Bint Nasser Al-Missned". Archived from the original on April 9, 2012. Retrieved March 12, 2018.
  27. ^ "Jim Wiggett Named Chief Executive Officer of bebe stores, inc. - Yahoo Finance". finance.yahoo.com. Archived from the original on December 16, 2014.
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