Good Vibrations Has Been Sold

goodvibrations.jpg

 The below is from SFGate. I have only a few small comments. I worked at Good Vibrations in upper management for three years, following eight months there as an editor, and there’s not much to say other than that I am speechless, freaked out, and not at all surprised.

Actually, I probably have a lot to say about it, but blog readers don’t get my actual opinion without some exchange of lettuce, liquor, or (possibly) sex. This is a market economy, after all.

Good News for Good Vibes: It’s Being Sold

by Ilana DeBare, Chronicle Staff Writer 

Good Vibrations, the pioneering San Francisco sex toy retailer that had stumbled recently due to Internet competition, is being sold to a nationwide distributor of adult products, a move that will save the store and help it expand in other cities.

Officials with GVA-TWN – a Cleveland firm that operates its own adult stores in the Midwest and has been distributing adult products since the 1960s – said Thursday that they are acquiring Good Vibrations for an undisclosed sum.

The San Francisco firm said the pending deal with GVA-TWN will allow it to restock its shelves for the holiday season. “The stores are getting restocked even as we speak,” Good Vibrations board member Carol Queen said Thursday afternoon.

GVA-TWN plans to use its financial muscle to open Good Vibrations stores in other cities. “In the long term or medium term, this will allow Good Vibrations to do something we’ve wanted to do for quite a while, which is look at expansion into other parts of California and the U.S.,” Queen said.

Officials from the two companies said there are no plans to lay off any of Good Vibrations’ 60 workers or to change its management. Good Vibrations once was a worker-owned cooperative but converted to a traditional corporate structure in 2006. Many of its employees own shares of the company, and officials said those workers will receive some of the proceeds of the sale.

Link.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: