1847 Goedeker Announces Plan to Re-Brand as Polished and Shift to “House of Brands” Model
Company’s “House of Brands” to Feature Polished While Still Including Appliances Connection and Goedeker’s
Shift Will Position Polished to Capture Significant B2C and B2B Market Share While Enabling Legacy Brands to Maintain Loyal Customers
1847 Goedeker Inc. (NYSE American: GOED) ("Goedeker" or the "Company"), a content driven and technology enabled shopping destination for appliances, furniture and home goods in the U.S. household appliances market, today announced that it will soon begin operating under the new parent brand name of Polished and have a new ticker (NYSE American: POL), which is expected to become effective on or about July 22, 2022. The Company’s warrants will trade under the symbol POL WS. In addition, the Company announced it will be shifting to a “house of brands” that continues to utilize the Appliances Connection and Goedeker’s banners preferred by certain legacy customers. This shift represents a significant step in the Company’s rebranding process and reflects leadership’s commitment to becoming the ecommerce leader in household appliances.
The Company plans to formally launch the Polished brand, which will provide customers with a new shopping experience, and its digital assets before the end of 2022. The Company expects that the Polished brand will be the primary banner in the Company’s “house of brands” model and that the Polished banner will be a significant driver of sales over the next 12-18 months. The shift to a “house of brands” model will enable consumers, designers and builders to have greater access to more selection, better price points and personalized assistance.
Albert Fouerti, Chief Executive Officer of Goedeker, commented:
“We are thrilled to be rebranding as Polished, a ‘house of brands’ that will also include the legacy Appliances Connection and Goedeker’s banners. Additionally, we look forward to rolling out the Polished brand, a new shopping experience, in select markets over the coming months. Throughout our rebranding process, we have heard feedback from customers regarding their journey from inspiration to installation. It is our mission to reduce their pain points and deliver assurance and enjoyment throughout every step of their shopping journey. Operating under a ‘house of brands’ will enable us to drive more value for more customers by providing a personalized appliance shopping experience from initial search through delivery and installation. We believe this rebrand is another major step in our transformational journey toward our goal of increased market share and $1 billion in targeted annual sales.”
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