REAL ESTATE

ThredUp plans major store expansion

BY CSA Staff

Another digitally native retailer is making a commitment to the brick-and-mortar space.

ThredUp, the online consignment marketplace, plans to expand its fledgling retail footprint from its current two locations to 10 by yearend, reported glossy.com. It plans to eventually expand to some 100 stores.

ThredUp enjoys a strong following among millennials, attracted by its deep discount prices, fashion brands and the excellent condition of its merchandise. The company opened its first retail outpost last June, at Tanger Outlets, in San Marcos, Texas. A second location, in Walnut Creek, Calif., followed.

With a clean, modern design, ThredUp stores are powered by proprietary technology and a massive amount of online customer data. The inventory is informed by its most active customers, with the selection reflecting the items that are trending in each store’s specific locale.

“When we look at our piece of the retail pie — the percentage of retail that will be driven by resale — we think about how we can be an even bigger part of people’s lives,” CEO James Reinhart told glossy.com. “That’s when you really start to see just how important the physical retail piece is in the overall ecosystem. It’s about making it at as seamless as possible for everyone.”

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Indochino is ready to play ball—in the Big Apple

BY Marianne Wilson

Made-to-measure men’s clothing retailer Indochino is increasing its presence in New York in more ways than one.

The company will open its third location in Manhattan in late spring, a 1,700-sq.-ft. space on Madison Avenue. A digitally-native brand, Indochino opened its first permanent retail space in fall 2015 and has since expanded to 22 locations. It was recently honored with Chain Store Age’s 2018 Breakout Retailers Award.

“We are proud that we’ve secured a prime corner on 51st and Madison as our third Manhattan location, and the crown jewel of our virtual inventory, appointment based retail network,” said Indochino CEO Drew Green. “New York is the epicenter of the international business community and opening a Flagship on Madison Avenue marks a long term investment in our largest market. We fully expect Indochino to make up 15% of all sales in 2018.”

In addition, Indochino announced it is entering into a multi-year sponsorship as the “Official Made to Measure Suit” of the New York Yankees. The retailer’s branding will appear in Yankee Stadium signage and there will be a series of prominent activations in the stadium and in Indochino’s retail locations as well as via Yankees digital and social channels.

There will also be exclusive fittings for premium season ticket holders, a Yankees themed in-store event and a “Measuring Moments” social media campaign. Yankees shortstop Didi Gregorius will be featured in the promotions.

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The art of luring shoppers with candy

BY Al Urbanski

Art installations and candy crafters like Sugarfina are becoming common attractions at malls looking for new ways to draw traffic. Why not put the two together?

That’s exactly what Macerich’s Santa Monica Place is doing for the next four months with Candytopia, a two-level, 16,000-sq.-ft. installation of both original art pieces and copies of the likes of Warhol and Rodin — all made of candy.

Despite the fact that tickets for Candytopia are $30 apiece for adults, Macerich reports that the exhibit is drawing thousands of visitors a week to the popular Southern California mall. What’s more, art (and candy) lovers are lining up early for the show and sticking around afterward to shop and dine.

“Candytopia is a smart concept blending art and retail into a truly original experience that is driving great traffic at Santa Monica Place,” said Macerich chairman and CEO Art Coppola.

Candytopia was the brainchild of “celebrity candy stylist” Jackie Sorkin, who partnered with retail veteran John Goodman and designer Zac Hertog to put on the exhibition, which undoubtedly would have won the praise of Andy Warhol. The Pop artist was known to occasionally follow a candy-only diet.

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