In its heyday, Pier 1 Imports had 18,000 employees and over 1,000 stores worldwide, bringing us the most eclectic and quirky array of home furnishing design and décor products—from love beads, exotic rattan chairs, to other treasured goods. For over 5 decades, Pier 1 took the reins of the home décor retail market, never thinking that its wares would ever go out of style. Find out how Pier 1 sank on Episode 37 of The Great Fail.

Sources:

‘A mishmash of products’: What went wrong at Pier 1 Imports

The Decline of Pier 1 Imports. What Happened? 10 Marketing Tips

Pier 1 Imports is closing hundreds of its stores amid reports of an imminent bankruptcy. We visited a store and saw why the chain is struggling.

Tai Lopez explains strategy behind buying bankrupt brands

Company-Histories.com: Pier 1 Imports, Inc.

Pier 1 Imports: From Hippie To Hip To Hell

Fallen Titans: Pier 1 Imports

Pier 1 to Liquidate After 58 Years in Business

Special Guest
Sucharita Kodali
Sucharita Kodali

Sucharita Kodali

Vice President and Principal Analyst at Forrester
As Vice President and Principal Analyst at Forrester, Sucharita is a leading expert on eCommerce, multichannel retail, consumer behavior, and trends in the online shopping space. In her research, Sucharita covers such consumer-oriented topics as eCommerce forecasting and trends, merchandising best practices, conversion optimization, and social computing in the retail world.

Prior to Forrester, Sucharita was the director of marketing at Saks Fifth Avenue, where she managed the customer acquisition, retention, and market research efforts for the $2 billion luxury retailer’s online channel. Sucharita holds a B.A. in economics from Harvard University and an M.B.A. from the Stanford Graduate School of Business.

About The Great Fail Podcast

What makes greatness fail? How do some of the most successful brands, companies, ideas fall flat on their face? Welcome to The Great Fail, a podcast that examines and explores case studies of the most famous and infamous cases. Here we share stories that will irk you, shock you, and have you picking your jaw up from the floor. This isn’t your typical classroom lecture hall–the stories are delivered in a whodunit murder mystery because some of these incredible, and oftentimes avoidable, mistakes are truly a crime!

Craving another mystery? Visit The Great Fail podcast website here.

This article originally published on GREY Journal.