Society Brands, Stark-based aggregator of e-commerce retails, expands
JACKSON TWP. – Searching for a new kilt? How about a wobble chair for that active kid? Need a screen protector?
Society Brands is connecting customers with all of those products, along with several more.
Launched earlier this year by brothers Michael and Justin Sirpilla, Society Brands has brought together six e-commerce companies and is working to acquire more.
More on Society Brands: Sirpilla brothers launch business to bring e-commerce retailers together as Society Brands
The most recent additions are Capsule Supplies based in New York, Yankee Toy Box in New Hampshire and Barnesmith in California. They join original Society brands member Damn Near Kilt ‘Em, which offers kilts and accessories; Active Chairs, which has wobble chairs for fidgety kids; and Power Theory, a screen protector supplier.
The companies are well-established, successful brands in their product categories and Society Brands anticipates continued growth for each business, said Michael Sirpilla, chief executive officer. Society Brands should top $100 million in revenue with the six companies that have been acquired.
When a company joins Society Brands, the owner remains with the business and works with Society’s team to share best practices, develop new product ideas, leverage assets and expand.
“We believe in the tremendous value each founder brings to Society Brands and look forward to collaboratively developing and growing their brands even further,” Michael Sirpilla said.
The three newest acquisitions are established businesses operating around the country. Michael Sirpilla said all are stable businesses with high-value products.
Barnesmith has been selling licensed collegiate apparel representing nearly 150 universities since 2001. Yankee Toy Box has sourced clothing and footwear from manufacturers with rights to Disney, Nickelodeon, Sesame Street and other major brands for more than 10 years. Capsule Supplies was founded in 2014 and provides empty capsules for businesses and consumers to create their own brand of supplements and vitamins.
“We’re in a pretty busy growth mode,” Michael Sirpilla said, noting that more online retailers should be joining Society before the year ends.
It’s anticipated that over the next three to five years, Society Brands will add between 12 and 15 online retailers each year.
The operations employ about 100 people around the country, with a number of new jobs already created in Northeast Ohio. The company hired a chief product officer, Charlie Quong, to help acquired brands build business by developing new products.
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Canton Chamber honoring Betty Smith
The Canton Regional Chamber of Commerce will recognize Betty Smith’s community service by presenting her with the Award of Merit during the Community Salute Awards.
Smith, who is co-founder and executive director at EN-RICH-MENT, will receive the chamber’s highest honor during a program Oct. 26 at The Conference Center on the Kent State University Stark Campus.
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The chamber also will present seven Awards of Appreciation recognizing: Akron-Canton Regional Foodbank, Aultman Hospital Timken Family Cancer Center, Canton City Public Health, Joanne Murray, Stark County Diaper Bank, Stark County Health Department, and Golden Key Center for Exceptional Children.
Smith co-founded EN-RICH-MENT in 2012. Other organizations she has founded include Forever Free, a recovery home for women and women with children recovering from drugs and alcohol; Joyful Noise Christian Entertainment Center; Canton Idol Gospel Joins Symphony; and Multi-Development Services of Stark County. She’s received numerous awards through the years.
Tickets for the dinner cost $70 and are available at CantonChamber.org or by calling 330-458-2070. Sponsorships also are available.
More Stark business news:Businessman reopens closed Junction Tavern in Canton
Timken marks century on New York Stock Exchange
Sunday marked the 100th anniversary of Timken Co. shares being available on the New York Stock Exchange.
Timken, which was founded in 1899, is one of only 30 companies on the NYSE that has been listed for 100 consecutive years, according to the exchange’s archives. It’s also the first Ohio-based company to reach the milestone.
Earlier this year, Timken marked 400 consecutive quarters of paying a quarterly dividend.
The achievement speaks to the ability of Timken employees to innovate, adapt and create sustainable value for shareholders across generations, Chairman John M. Timken Jr. said in a press release. “We’re honored to be recognized among such a short list of companies to accomplish this feat.”
Housing sales continue slide
Real estate agents around Ohio sold fewer properties in August, according to numbers compiled by the Ohio Realtors.
The association reported that agents in MLS Now, which covers Stark and 22 other Northeast Ohio counties, sold 5,559 units in August, a 1.8% drop from 5,659 sold in August 2021. Around Ohio, agents reported selling 15,412 properties, a 6.4% drop from 16,466 sold in the same month last year.
So far this year, agents in the MLS Now market reported selling 35,598 properties, down 3.4% from 36,834 sold last year. Statewide, the association reported 104,134 properties had been sold through the end of August, a 3.7% drop from the 108,179 units sold during the first eight months of 2021.
During 2022, property values have increased. The average sale price in MLS Now climbed 9% to $232,046 from the average of $208,326 in 2021. Statewide the average price has rise 9.3% to $261,096 from last year’s average of $238,853.
Reach Edd at 330-580-8484 or firstname.lastname@example.org On Twitter: @epritchardREP