Trans World Entertainment
From Wikipedia, the free encyclopedia
| Trans World Entertainment | |
 |
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| Type | Electronics |
|---|---|
| Founded | 1972 |
| Headquarters | Albany, New York |
| Industry | Retail |
| Products | Music and DVD stores |
| Website | www.twec.com |
Trans World Entertainment Corporation (NASDAQ: TWMC) is a chain of entertainment media retail stores in the United States. It currently operates over 800 freestanding and shopping mall-based stores under several brand names.
Based out of Albany, New York, Trans World was founded in 1972 by Robert Higgins. It opened its first store, called Record Town (formerly Record Land), in 1973. The company went public in July 1986 and has expanded through acquisitions of a number of smaller or failing companies including Strawberries, Camelot Music, and Wherehouse Entertainment.
In February 2006, Trans World acquired the Musicland Group, which owned Sam Goody, Suncoast Motion Picture Company, and former online store Media Play.
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[edit] f.y.e.
In 2001, Trans World unified its mall-based stores under the brand name f.y.e. or for your entertainment, after buying out the mall-based Camelot stores. During 2001, a major re-branding campaign made f.y.e. the brand name for the entire group of mall-based retail stores owned by Trans World Entertainment. However, some freestanding or strip center stores continued to operate under their regional brands such as Strawberries.
Trans World stores deal with CDs, DVDs, video games, and other entertainment products. They also buy, sell, and trade used CDs, DVDs, and video games.
Beginning in 2006, Trans World began transitioning buildings that were once home to Media Play outlets near Salt Lake City and Buffalo into f.y.e. superstores.
[edit] Criticism
On November 17, 2006 an internet boycott of the f.y.e. brand began, centered around a viral video regarding their handling of pre-orders for the Nintendo Wii gaming console. An unnamed customer with the YouTube handle dlemmon99 posted a lengthy video detailing a perceived bait and switch situation in which customers who pre-ordered a console were not made aware of their liability to purchase a bundle with two games and a twenty five dollar f.y.e. discount card in order to receive the console on launch day.
This incident is noteworthy as another example of "consumer revenge" videos hitting it big on the internet and affecting corporate image in the vein of the infamous "A Comcast Technician Sleeping on my Couch" video and Vincent Ferrari's famed encounter with America Online's cancellation process.
[edit] Chains
- Coconuts: Chicago, New York, New Jersey, and Mid-Atlantic States
- Planet Music: Virginia Beach
- Sam Goody: Nationwide
- Suncoast Motion Picture Company: Nationwide
- Saturday Matinee: California, Illinois, Connecticut, Delaware, Maryland, New Jersey, New York, and Virginia
- Spec's Music: Florida
- Strawberries: New England, Connecticut, Maryland, Maine, New Hampshire, Rhode Island, and Vermont
- Wherehouse Music: Western United States including: Arizona, California, Georgia, Louisiana, Missouri, New Mexico, Oklahoma, Oregon, Texas, Utah, Virginia, and Washington
- F.Y.E: Nationwide (mall-based)
[edit] Defunct
- CD World and Streetside Records: New Jersey and Missouri
- Media Play.com: Nationwide
- Second Spin: Colorado and California
- The Wall: Mid-Atlantic States
