“Lists are not hard to get, but lists that are connected to a brand that I own, I can’t go buy that as easily,” he said. “You gain tremendous value by having conversations with customers who already have a relationship with that brand.”
“A buyer typically wants that customer list because it's a way for a new buyer to take on that brand and give it new life, including to market similar products to the same customer base,” he said. Most retailers have a privacy policy that includes clauses related to what will happen to customer data in a potential sale of the business.
Most retailers’ privacy policy includes some clauses related to what will happen to customer data in a potential sale of its business, said Catherine Meyer, senior counsel with Pillsbury Winthrop Shaw Pittman. For instance, Lord & Taylor, which filed for bankruptcy this month,a clause in its privacy policy that tells customers their information is considered a company asset and may be sold or transferred to third parties.