Retail Ventures, Inc. was a holding company originally created in 2003 for DSW, Filene's Basement, and Value City Department Stores. The retailer's initial public offering was in 1991 under the Value City name. Value City went on to purchase the DSW shoe business in 1998 and Filene's Basement in 2000.
Schottenstein Stores Corp. of Columbus, which held controlling interest of Retail Ventures, also held a stake in the 221-store DSW chain. Jay Schottenstein, chairman and CEO of DSW, was chairman of Retail Ventures and heads Schottenstein Stores Corp. Value City Stores were known as Schottenstein's in the Columbus, Ohio market in honor of its founder Ephraim Schottenstein, but the name was dropped after Value City was sold to Burlington Coat Factory.[1]
Retail Ventures Inc stated in December 2006 that it had retained Financo, Inc. and CIBC World Markets Corp to advise it about "strategic alternatives", including a possible sale, for its Value City Department Stores division.
Retail Ventures Inc announced on January 23, 2008 the disposition of an 81% ownership interest in its Value City