In June 2020, Retail Ecommerce Ventures (REV) acquired Pier 1 for $31 million. REV, which was founded by former Nasa scientist Alex Mehr and serial entrepreneur Tai Lopez, is a holding company that buys distressed iconic brands and revives them as e-commerce businesses. Other recent acquisitions of REV include Dressbarn and Modell's Sporting Goods. REV acquired control of the Pier 1 website at the end of October 2020, just about the time the last store had closed, and moved on-line operations to Dallas.