Indochino ramps up store expansion
Indochino, the digitally native made-to-measure menswear brand, is expanding its brick-and-mortar footprint by almost a third.
The Vancouver-based company, among the recipients of Chain Store Age’s 2018 Breakout Retailers Awards, will open eight new locations during the next four months, ranging from Newport Beach, California, to Short Hills, New Jersey (see list end of story). Bialow Real Estate represented Indochino on all of the deals.
Indochino, which was founded online and moved into physical retail in 2015, currently has 23 stores (“showrooms”). The company decides which new markets to enter with the help of a heat map that shows its strongest online customer bases. The locations are chosen for their close proximity to a young professional community and as a premier shopping destination for men aged 25-45, the company’s core demographic.
“The latest investment in retail marks an important step in our growth strategy as we look to expand our brick and mortar network by almost a third over the course of four months,” said Drew Green, CEO of Indochino. “Indochino has evolved its digitally native foundation over the past few years and expanded at an industry leading pace, based on the belief that an enhanced and custom shopping experience should be accessible to everyone.”
Indochino’s retail spaces offer an immersive experience. Customers are designated their own personal stylist who assists them in designing their suit or shirt and helps them choose from millions of possible combinations of fabrics and personalization options. Garments are then made to the customers’ precise measurements and shipped directly to their door within three weeks.
“We have continued to develop a differentiated retail concept that offers our customers a world class experience while enhancing shareholder value through significant and sustainable growth,” added Green. “Showrooms give customers access to a completely new way to shop whilst being highly efficient to operate. We pass these savings on to our customers in the form of great value, high quality clothing. It’s a winning formula.”
Here is the list of Indochino’s upcoming locations:
Dallas, Texas, opening May 11
Size: 2,900 sq. ft.
Denver, Colorado, opening May 18
Cherry Creek North
Size: 3,196 sq. ft.
Bethesda, Maryland, opening May 25
Size: 2,497 sq. ft.
Short Hills, New Jersey, opening June 2018
The Mall at Short Hills
Size: 2,435 sq. ft.
Size: 1,691 sq. ft.
Columbus, Ohio, opening summer 2018
Easton Town Center
Size: 1,919 sq. ft.
Newport Beach, California, opening summer 2018
Size: 2,782 sq. ft.
Madison Avenue, New York, opening summer 2018
Size: 1,700 sq. ft.
Online dorm supplies retailer readies to open its first pop-up stores
School is still in session in most parts of the country, but that isn’t stopping Dormify from its latest move.
The online retailer that caters to college and dorm supplies is opening three locations this month in New York City, Chicago, and Washington, D.C. Each store will enable customers to explore merchandise and styling ideas before making a purchase.
Shoppers can make an appointment or walk into any location. Each store will feature Dormify stylists — current college students or recent graduates — who will offer advice on how to style dorm rooms or apartments. Stylists will also create looks for beds, desks and walls using Dormify merchandise.
Customers can order merchandise in-store, and have items shipped directly to their dorm, according to the company.
Macy’s acquires New York experiential retailer
There is a new story at Story, the 2,000-sq.-ft. retail outpost that reinvents itself with a new theme every couple of months.
Macy’s announced that it has acquired the concept store, which is located in Manhattan’s Chelsea neighborhood. Additionally, Rachel Shechtman, Story’s founder and CEO, will join the department store giant as brand experience officer. In her new role, Shechtman will focus on ways to enhance the in-store customer experience at Macy’s, and Story will have the opportunity to come to life in a new format.
Story will operate as usual, continuing to rotate new themes at its Chelsea location. The COO of Story, Jenny Shechtman, will assume the role of VP, operations at Story under Macy’s ownership.
“Rachel is a unique and innovative voice in retail, and we are thrilled to have the Story team join the Macy’s family said Jeff Gennette, CEO and chairman of Macy’s. “Bringing Rachel’s perspective to the table will help create more enriched and engaging in-store experiences and brand activations.”
Story takes the point of view of a magazine, changes like a gallery, and sells things like a store. Every four to eight weeks, the space reinvents itself – from the design of the store to the merchandise – with the goal of highlighting a new theme and in partnership with a brand. Last fall, for example, Story partnered with global beauty giant Coty to transform the store into a beauty lover’s paradise. And in May 2016, Story collaborated with Walmart’s Jet.com division on a “Fresh” theme with a merchandise that featured cool kitchen gadgets and accessories, along with cookbooks, fresh produce and select menu-inspired grocery items.
“It’s exciting to have a national stage to leverage Story’s learnings and relationships to create impact at scale,” said Shechtman. “I’m energized by the opportunity to further build new customer experiences across the Macy’s portfolio, while also continuing to pursue new business models and brand partnerships.”