Beckett Collectibles Has a New Parent Company
Collēctīvus Holdings announced it will be the parent company of Beckett Media & Collectibles. The move is meant to shift Beckett's strategy, which has fallen on difficult financial times and embroiled in controversy from the Beckett ownership group.
According to cllct, the move is not an acquisition but a shift to a new "strategic plan" for the venerable hobby brand. Collēctīvus also announced it would include Southern Hobby Distribution and Dragon Shield under its umbrella.
To underscore that the realignment under Collēctīvus is not an acquisition, the CEO and CMO of Collēctīvus, Kevin Isaacson and Scott Stroud, have the same roles at Beckett. The contact information on the Collēctīvus site is the same as Beckett's.
"It's rare for a brand to establish itself as the industry leader right from its inception, but that's exactly what Collēctīvus is doing," said Scott Stroud, CMO of Collēctīvus Holdings, in a press release. "When you look across the three Collēctīvus brands you find the most sought-after labels in all collecting, the highest quality sleeves in TCG, and the most knowledgeable sales team in The Hobby."
According to the press release by Collēctīvus, "All brands under the Collēctīvus banner will maintain their independence and identities, but they will now benefit from an added layer of coordination and strategy from a global leadership team."
The press release also noted, "recently executed lending agreements which will revitalize the company's ability to invest in all three Collēctīvus brands." However, the terms of those lending agreements were not released, and it's unclear how the restructuring will give current Beckett administrators more flexibility in executing its strategic plans.
In the past year, Beckett Grading Services has fallen to fourth position among major card graders, behind PSA, SGC, and CGC. The numbers have been so low that many have wondered how the lights have been kept on at Beckett's offices. Perhaps this move under Collēctīvus will help save the company.
