Latest news with #TenThousandVillages
Miami Herald
27-04-2025
- Business
- Miami Herald
Global retailer closing U.S. stores, no bankruptcy planned
Noble intentions don't pay your bills. They might get a retailer some publicity, but doing the right thing can be a liability when your rivals do whatever it takes to make money. Related: Another popular pizza chain files Chapter 11 bankruptcy Retailers created to lift up impoverished communities or ones based on a charitable model won't always fail, but such businesses may have one more mark against them in an already competitive environment. Most successful retailers have been forced to pivot quite regularly. Target, for example, has moved to a strategy where much of its merchandise comes from owned-and-operated brands. Don't miss the move: Subscribe to TheStreet's free daily newsletter That makes it less reliant on the whims of outside partners, but also has it selling products that customers may not be familiar with. It's a tradeoff the retailer has succeeded with because the Target brand itself has a strong reputation. Evolution is key in retail, and some retailers have less flexibility with that then others. One popular chain that operates with a noble purpose has decided to close its company-owned brick-and-mortar locations. Ten Thousand Villages brought artisan works from around the globe to American stores and an accompanying website. It offers a simple explanation of its business. "Ten Thousand Villages creates opportunities for artisans in developing countries to earn income by bringing their products and stories to our markets through long-term, fair-trading relationships," it shared on its website. And, it also shares a longer, more self-righteous version. "We're a global maker-to-market movement that addresses economic injustice. Because every handcrafted object has a life of meaning behind it. We're a way for you to shop with intention for ethically-sourced handcrafted wares - and to share in the joy of empowering makers in ten thousand villages," it posted. Retail bankruptcies: Popular restaurant and bar chain files for Chapter 11 bankruptcyPopular athletic shoe chain files for Chapter 11 bankruptcyAward-winning cosmetics brand files for Chapter 11 bankruptcy The company operates under a strict code of ethics. "As a pioneer of fair trade, we do business differently, putting people and planet first. That means you can trust that every purchase and donation you make directly impacts the life and community of its maker in an under-resourced community. Together we break the cycle of generational poverty and ignite social change," it added. Noble intentions tend to be costly, and few landlords accept them in lieu of the rent. Ten Thousand Villages has shut down all of its company-owned stores and switched to an online and wholesale model. The chain will partner with nonprofits that will open their own stores, stocking Ten Thousand Villages merchandise. Those partner stores will also be free to sell other goods. "Our store and support staff affected by this change have been champions of fair trade, creating connections with customers and artisans alike," said CEO Dan Alonso. "We are deeply grateful for their dedication and are committed to supporting them through this transition." The impacted stores include locations in Albany, NY; Burlington, VT; Charlottesville, VA; Lancaster County, PA; Media, PA; Montreat, NC; Northampton, PA; Philadelphia; Portsmouth, NH; Richmond, VA; San Antonio, West Hartford, CT; and Austin, TX. Related: Beloved retailer begins closing stores after Chapter 11 bankruptcy Ten Thousand Villages was founded in 1946 by Edna Ruth Byler. The company began as a grassroots effort to create lasting economic opportunities for artisans. The 501(c)(3) non-profit company said it "remains committed to fair wages, eco-friendly practices, and artisan empowerment through its online store, wholesale partnerships, and licensed retail locations," Fox 43 reported. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
12-02-2025
- Business
- Yahoo
Fair trade retailer Ten Thousand Villages closing in Ann Arbor after 2 decades
After two decades of bringing ethically sourced, handcrafted goods to the community, Ten Thousand Villages in Ann Arbor will close its doors on March 30, citing financial pressures and evolving shopping habits. Since 2004, the nonprofit fair trade store at 303 S. Main St. has been a community hub, promoting global craftsmanship and ethical shopping. Largely volunteer-run, it has offered handmade jewelry, home decor, kitchenware, fair trade foods, and more while helping artisans in more than 20 countries earn sustainable wages. However, store representatives say that in recent years, declining foot traffic, rising operating costs, and a shift toward online shopping have made it increasingly difficult for them to remain viable. "It's kind of been a long time coming, in a way. After COVID, street traffic on Main Street decreased. I think that's true for retailers across the board," said the store manager, Emily Carroll. "Becoming financially sustainable became too difficult with rising rent and the changes in retail." Ten Thousand Villages, which has several locations nationwide, ensures artisans from Asia, Africa, Latin America, and the Middle East receive 50% of the payment upfront and the rest once their products are shipped to the U.S., Carroll said. This provides skilled workers in marginalized communities with a stable market for their goods, supporting fair trade practices globally. More: Popular Ann Arbor artisan shop 16 Hands to close this spring after 50 years Marcia Strong, a volunteer at the Ann Arbor store for 19 years, said she and other volunteers are devastated by the closure. "It is like a wake as customers come in this week, telling (us) how much the store meant, how their family members from out of town always want to come to this store, special objects in their homes such as menorahs and nativities came from this store, and the fun of bringing children and grandchildren to the store to explore and learn of other cultures," Strong told the Free Press in an email. "The real loss, of course, is to the artisans in the marginalized countries who depend upon our sales for their livelihood, their ability to send their children to school, to build wells in their community, to have good housing and to build a better life." As part of a farewell sale, everything at Ten Thousand Villages in Ann Arbor is 30% off, with additional markdowns expected until the store closes at the end of March. In addition to the Main Street location, 13 company stores will close as Ten Thousand Villages shifts to online sales, Carroll said. The chain is headquartered in Akron, Pennsylvania, and will still have more than 20 locations in 10 U.S. states and three in Canada. The fair trade store will close just weeks before another Ann Arbor retailer, 16 Hands, shuts its doors after 50 years at 407 N. 5th Ave. in Kerrytown Market & Shops. Owner Jill Damon is retiring to focus on her own art and personal life, and the store will officially close on Saturday, April 19. Customers can continue shopping at Ten Thousand Villages online and at the remaining stores. The closest locations to Michigan are in Ohio, Illinois and Indiana. "Together, we've shown that ethical shopping is not just possible—it's transformative," the Ten Thousand Villages of Ann Arbor board said in a news release. "The vibrant community of Ann Arbor has been a source of inspiration and joy, and we are so grateful for your support over the past two decades." Nour Rahal is a trending and breaking news reporter. Email her: nrahal@ Follow her on Twitter @nrahal1. This article originally appeared on Detroit Free Press: Ann Arbor's Ten Thousand Villages set to close March 30
