Bids for the Yak Pak trademark, a brand associated with the New York-based backpack-maker known for innovations such as the first micro and mini backpacks, DJ bags, origami bags and cross-body shoulder bags, are due by 5 p.m. EST on March 6, announced auctioneer Tiger Remarketing Services, a division of Tiger Group.
Conducted on behalf of secured-creditor Wells Fargo Trade Capital Services, Inc., the sale includes rights, title and interest in the trademark and related intellectual property for Yak Pak. Sealed bid packages are available at www.SoldTiger.com.
Started out of a college dorm room, Yak Pak earned its claim to fame by bringing fashionable prints to the then-stodgy and monochrome backpack market and by taking new approaches to the design of backpacks, messenger bags and other products, noted Jeff Tanenbaum, president of Tiger Remarketing Services, which is based in Westlake Village, CA. Yak Paks can be found in a host of retail locations across the United States and Canada, including specialty stores, college bookstores, sporting-goods retailers and more.
“The Yak Pak brand, with its slogan, 'A bag isn't just something you carry, it's something you wear,' enjoys a reputation, not only for its creativity, but for sponsoring various music events and charity functions, and for being featured in the popular media,” explained intellectual property specialist Bradley Snyder, a managing director of Tiger Group.
All bids must be submitted using the bid form provided at www.SoldTiger.com. They must also be accompanied by a deposit as provided for in the bid package. Deposits are accepted by cashier's check or wire transfer and will be refunded within 72 hours to unsuccessful bidders.
