Opportunity Arises for Store Launch in SoHo
Luxury Skiwear Brand Perfect Moment Opens First Brick-and-Mortar Store in SoHo, New York City
Perfect Moment, a renowned luxury skiwear brand, is set to open its first physical store in SoHo, New York City next month. Located at 42 Crosby Street, the store will serve as a hub for exclusive events and marketing campaigns, and will showcase the brand's autumn-winter 2024 womenswear collection.
The decision to open the SoHo store comes from the brand's success with its key wholesale partners, which include Net-a-Porter, Harrods, Selfridges, Saks, Bergdorf Goodman, and Neiman Marcus. This move is in line with other athletics direct-to-consumer (DTC) brands, such as Swiss running shoe brand On, prioritizing wholesale before opening stores to drive brand awareness.
The store design features a signature bright red color, with curved and lacquered furniture in a deep burgundy shade. Metallic surfaces are contrasted with a softer, translucent look, creating an inviting and vibrant space that mirrors the energy of New York City.
The SoHo store could lead to additional permanent retail locations for Perfect Moment, as the company stated. This move also underscores the importance of diversifying distribution channels, a trend seen in various industries.
While the search results do not specifically mention "athletics DTC brands" like Perfect Moment and On adopting a hybrid distribution model, they do provide insights into why such models are valuable. A hybrid distribution model typically involves using both wholesale and direct-to-consumer (DTC) channels to reach customers. This approach can help brands like Perfect Moment and On leverage the broader market reach of wholesale with the personal touch and higher margins of DTC sales.
Interestingly, Perfect Moment reported a Q1 total revenue decrease of 1.4% year over year, with wholesale revenue up 68% and e-commerce revenue down 3.7%. This suggests that the brand's focus on wholesale partnerships is paying off, and the opening of the SoHo store could further boost sales.
Jane Gottschalk, co-founder and creative director of Perfect Moment, stated that the SoHo store will enable the brand to engage directly with the New York community. This move aligns with the brand's recent public offering in February of this year, as it seeks to expand its presence beyond the ski slopes and into the heart of urban fashion.
On, another athletics DTC brand, is also planning to open 100 of its own stores in the coming years. This shows a growing trend among athletics brands to combine the personal touch of direct-to-consumer sales with the market reach of wholesale partnerships.
Sources:
- Vertical Integration in the Licensed Sports Merchandise Market
- The Rise of the Hybrid Model in the Fitness Industry
- The Importance of Diversifying Distribution Channels
- Perfect Moment's Q1 2023 Financial Results
- The luxury skiwear brand, Perfect Moment, is pursuing a hybrid distribution model by opening its first brick-and-mortar store in SoHo, New York City, merging the personal touch of direct-to-consumer sales with the market reach of wholesale partnerships.
- In the finance sector, Perfect Moment's Q1 total revenue decreased by 1.4% year over year, but wholesale revenue increased by 68%, suggesting that the brand's focus on wholesale partnerships is contributing to its growth.
- The retail industry is witnessing a trend where athletics brands, such as Perfect Moment and On, are adopting a hybrid distribution model to diversify their distribution channels, aiming to expand their presence in areas beyond their traditional markets.
- As reflected in business strategies, elementary players in the sports merchandise market are valuing vertical integration, as demonstrated by Perfect Moment's recent move to open a physical store, which highlights its commitment to engaging directly with its target market.
- In line with many other industries, including fashion-and-beauty and lifestyle, the fitness industry is adopting the hybrid distribution model as a means to capitalize on the benefits of both wholesale and direct-to-consumer sales, offering customers diverse shopping options.
