Geneva Supply has plans to expand Cascio Interstate Music’s online presence after the company recently acquired the music instrument retailer in a voluntary receivership. Part of Geneva Supply’s plans are to permanently close Cascio’s New Berlin location, and instead open a Cascio Interstate Music event venue at W136 N5285 Campbell Drive in Menomonee Falls. Earlier
Geneva Supply has plans to expand Cascio Interstate Music’s online presence after the company recently acquired the music instrument retailer in a voluntary receivership.
Part of Geneva Supply's plans are to permanently close Cascio's New Berlin location, and instead open a Cascio Interstate Music event venue at W136 N5285 Campbell Drive in Menomonee Falls.
Earlier this year, Cascio Interstate Music was placed into receivership by a court order. The company indicated in a press release that if a buyer could not be found, Cascio would permanently cease operations. An attorney for Cascio cited “continuing issues with financial performance” and a need for additional investment to expand its online presence as reasons for closing its doors.
Launched in 2009, Delavan based-Geneva Supply provides brand strategy, digital marketing services and supply chain solutions for Amazon and e-commerce platforms. In 2019, Geneva Supply was identified as the region’s fastest growing company in the MMAC’s Future 50 Program, which was in-part why Cascio identified the company as a logical buyer, said Jeff Peterson, Geneva Supply co-founder and chief executive officer.
“They saw our e-commerce and skillset expertise and they thought we would make sense because they were doing some e-commerce as well,” Peterson said.
The new owners are now focused on building out Cascio’s website so that consumers, musicians and artists will view the online platform as a social and experiential website as well as a marketplace for the music industry.
Over the past decade, online sales in the music industry have grown an average of 30% year-over-year, said Mark Becker, Geneva Supply co-founder and chief operating officer, adding that consumers are turning to their favorite e-commerce sites to buy instruments and accessories.
Brick and mortar stores around the country have felt increasing pressure as online sales in retail continue to soar. COVID-19 has only added to that pressure, which includes inventory, selection and overhead costs, Peterson said.
"Throw in COVID-19 and you start to have additional challenges not just for the owners of brick and mortar retail locations, but for the manufacturers that have been so reliant on the distribution of their product through those types of channels,” Peterson said.
Becker says Interstatemusic.com will continue to offer the same products, but the company will also also increase Cascio’s online presence through social media while paying homage to the company’s Wisconsin roots and more than 70-year history.
“The idea is that Interstatemusic.com is still going to have all the great brands and a great focus of ours is to keep the feel, vibe and history alive,” Becker said.
Cascio Interstate Music’s new 1,600-square-foot event venue will open in the next three to six months. The new event venue, which is equipped with a stage, lighting and sound, will not involve retail operations. However, the new owners plan to host e-commerce, digital marketing, and educational workshops at the venue.
“We’re very big into educating businesses and helping them understand e-commerce, the strategies and especially for brick-and-mortar companies that are challenged with it,” Peterson said.
Becker says the company also has plans to partner with Summerfest and other music venues in the city to host trade shows and pop-up events where musicians will have a chance to play instruments.
Cascio Interstate Music was founded in 1946 by Frank Cascio as a small teaching and accordion studio called the West Milwaukee Accordion School. The company is the 14th largest music instrument dealer in the United States.
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