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Revision as of 20:32, 13 February 2008
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| Company type | Private |
|---|---|
| Founded | 1947 Atlantic City, New Jersey |
| Headquarters | Egg Harbor Township, New Jersey |
| Key people | Steve Silverstein, CEO |
| Products | Retail |
| Website | www.spencersonline.com |
Spencer Gifts or Spencer's is a North American mall retailer. Spencer Gifts has stores in the United States, Canada, and Puerto Rico.
Spencer's target demographic is the 18-25 year old. The retailer offers rock and roll clothing, band merchandise, Playboy decore and apparel, gag items, room decor, collectable figures, fantasy and horror items and novelty gifts. Spencer Gifts is one of the largest mall-based specialty gift store chains in North America with over 600 stores. The company also operates temporary Halloween stores under the Spirit of Halloween Superstore brand.
History
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Originally founded as a mail-order catalog in 1947, Spencer’s sold an assortment of novelty merchandise. In 1964, Spencer's opened its first retail store in the Cherry Hill Mall in Cherry Hill, New Jersey where it continues to have a retail presence.
Shortly after launching its retail division, Spencer's was acquired by MCA, an entertainment conglomerate. In 1995, MCA was acquired by Seagram Company Ltd. and operated under the name Universal Studios. While a Universal Studios company, Spencer’s expanded its store base into Canada and acquired a Halloween seasonal retailer, Spirit Halloween.
In 2001, Vivendi, a diversified international entertainment company acquired Universal Studios and re-branded the entire organization as Vivendi Universal Entertainment LLLP. Less than two years later, in 2003, GB Palladin, a joint venture between Gordon Brothers Group, LLC and Palladin Capital Group, Inc. acquired Spencer Gifts LLC.
In the Fall of 2004, four new prototype stores were constructed and opened in Deptford, New Jersey, Lehigh Valley, Pennsylvania, Concord, New Hampshire, and Des Moines, Iowa.
Criticism
Following an undercover investigation by television station WEWS in Cleveland, Spencer's is being criticized for allowing children access to adult toys and explicit items such as a lollipop in the shape of a male body part. Parma, Ohio, Mayor Dean DePiero has vowed to force changes at the store located in the Parmatown Mall after viewing the story.