IP assets of Comet Group up for sale

The intellectual property (IP) assets of British heritage retail brand, Comet, the electricals retail giant that closed down in December 2012, are being brought to market by Metis Partners.

Metis Partners is an award-winning, international IP valuation firm. In April last year, it was appointed to review the IP assets of nationwide electronics retailer, Maplin Electronics.

It is now providing an opportunity to acquire the valuable IP assets of Comet Group Ltd (in Liquidation), a brand that dates back almost 100 years.

The CE and home appliances retailer, the second largest in the UK at its height, reached £1 billion of revenue at its peak (just a year before the business closed down), operating from 236 outlets (situated in both high street and out-of-town locations), and via its branded e-commerce websites.

The Comet brand was at the very heart of the British retail market and was supported by extensive marketing campaigns and over 85 years of brand heritage. It remains widely recognisable among consumers.

The IP offered includes the distinctive “orange” Comet brand, associated, for decades, with retailing electricals and white goods, as well as sizeable domain name and trade mark portfolios. Also included in the IP sale are the well-known Kitchenscience and Laskys brands.

Stephen Robertson, CEO of Metis Partners, said: “Acquiring this brand could provide almost immediate entry to many segments of the UK market, including B2B and B2C markets. A re-launch of this brand in a new format will resonate with consumers over a certain age who, like me, remember Comet as their first choice for anything electrical.

“It is a household name that could also be used by any technology business, giving them a recognisable brand to be used in distribution channels or easily relaunched as an e-commerce platform.”