Internet retailer NoMoreRack.com has rebranded, the name they chose is Choxi, according to the company it is hybrid of “Chock Full” and Choice. I can say I don’t get it. I don’t think the name is easily spelled when one customer may tell a potential new shopper. On top of that Target used to sell a brand of chocolates called Choxie.
InternetRetailer.com reports that the move was partially due to a lawsuit (which was dismissed) filed by Nordstrom 3 years ago. In the article the Chief Marketing Officer said they were already thinking about rebranding before the Nordstrom lawsuit.
From the article:
Part of the motivation for the rebranding was to better position the company globally. “NoMoreRack is a very literal English word,” Agarwal says. “We wanted to have a more global name, a more world-recognized brand that would be easier for everyone else. We wanted to be able to set the right platform for the future.” While the company has what it considers to be a more global name, international expansion plans aren’t yet in its future, he says.
Top500Guide.com data shows that NoMoreRack.com experienced explosive growth during the past five years, going from $375,000 in sales when the site launched in 2010 to an Internet Retailer-estimated $700 million in sales in 2014. Agarwal declined to confirm that number or provide an exact sales figure in an interview.
The move comes three years after Nordstrom Inc. (No. 19) filed a trademark infringement lawsuit against NoMoreRack on the grounds that Nordstrom, which operates the Nordstrom Rack chain of discount stores and NordstromRack.com, had staked its claim to the “Rack” name when it came to online commerce. However, the Nordstrom case was dismissed in February 2014.
Read the full article on InternetRetailer.com