The company is planning three store openings next year: two for its AllModern brand and one for its Joss & Main brand. The stores will be located in the retailer’s home state of Massachusetts.
Customers will be able to purchase goods directly in the stores or place orders for home delivery, according to a company press release. The Joss & Main and AllModern stores are the first in a series of openings over the next two years as Wayfair plans locations for each of its five brands, including Birch Lane and Perigold.
After first testing out physical retail in 2018, Wayfair appears to have its eyes set on the channel.
Over the years, the company launched a number of pop-ups, as well as a smaller-format permanent store under the Wayfair name, which closed earlier this year. The company is now planning for larger format stores for both its Wayfair and Perigold brands.
Wayfair benefited last year by not only selling in a category in high demand but also from operating primarily online — where many consumers were shifting spending in order to limit trips to stores. For fiscal 2020, the retailer’s revenue grew 55 per cent year-over-year to $14.1bn, and its net profit was nearly $185M from a loss of $984.6M in the year-ago period.
