The Brain Store gets $5M for expansion
June 4th 2011 04:10
By Bruce Japsen
Tribune staff reporter
12:47 p.m. CDT, June 3, 2011
A Chicago retail startup tapping into the brain fitness industry has announced an infusion of $5.5 million in funding from its private investor partners to begin expanding across the country and adding more than 100 new jobs.
Marbles: The Brain Store, which has five stores in the Chicago area and another three in Minnesota, said it will open several new stores later this year in Boston, New Jersey and Maryland. And in 2012, it plans to expand to the West Coast and Southern U.S.
Marbles would not disclose names of its investors. The money will be used to invest in a variety of aspects of the business, including its website, new products under the Marbles brand, advertising and marketing.
Marbles sells games and products designed to "strengthen and entertain the brain," the company says. It also staffs its stores with employees it calls "brain coaches" who are trained on how to play the hundreds of games, puzzles and software in the store. The company also hosts brain fitness seminars outside the stores at such venues as community centers and retirement homes.
"This commitment will help us accelerate our growth and broaden our retail presence as we continue our mission to create a national brand," Marbles chief executive officer Lindsay Haskins said. "We're on the path to creating more than 100 new jobs with this expansion, which we are pretty happy about."
bjapsen@tribune.com
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