Lumeon, a premium outdoor apparel brand, has recently restru…
Lumeon, a premium outdoor apparel brand, has recently restructured its distribution strategy. Rather than relying on independent retailers, it now owns and operates its entire retail operation—from its online store to physical Lumeon-branded retail locations in major metropolitan areas. The company also manages its own warehouses and shipping centers to ensure control over the entire customer experience and maintain brand consistency. This channel strategy is best described as which type of ownership structure?