Hancock buys into the Web: gets share of Internet firm, sets online store.(Hancock Fabrics Inc.)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, December, 1997 by Clark, Ken
NEW YORK -- Retailer Hancock Fabrics backed up its belief in electronic commerce by acquiring a minority interest in Apparel Exchange, an Atlanta-based Internet development firm.
And beginning early next year, Tupelo, Miss.-based Hancock will have an Internet store at Fabric Mall, a business-to-business and retail Web site currently under development by Apparel Exchange.
Despite the focus on apparel in the parent-company's name, textiles are not the focus of the Fabric Mall, said Stephen Friedman, president and chief executive of Apparel Exchange. "The Fabric Mall portion relates only to textiles, it doesn't relate to apparel at all.
"Hancock Fabrics will be selling home furnishing fabric in a big way."
Said Bruce Smith, Hancock's chief...
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