Page 10 - #182 June 2023

AMERICAS

WARBY PARKER IS ON COURSE TO OPEN 40
NEW STORES THIS YEAR

The direct-to-consumer eyewear brand plans to open 40
new stores this year, for a total of 240 locations.
It opened six stores during the first quarter, including
its 13th location in New York City, on the Upper West of
Manhattan, directly across from the Museum of National
History and ended the quarter with 204 locations.
Looking long-term Co-Founder and Co-CEO Dave
Gilboa told analysts that “we believe can open 900-plus
stores in the US, a significant opportunity for further
penetration of new and existing markets for years to
come while still representing a small fraction of the
48,000 optical shops in the US”.
Among other benefits, stores act as an accelerator of
progressives sales, Gilboa noted. “As our store footprint
has expanded, so have progressives,” he said. “Progressives
penetration was up 210 basis points year over year to
22.9 per cent of prescription eyeglass units in Q1.”

GENTLE MONSTER HAS MADE FURTHER STRIDES IN THE US, WHICH IS STILL THE PLANET’S BIGGEST LUXURY MARKET, OPENING ITS FIFTH STANDALONE STORE IN HOUSTON.
THE SOUTH KOREAN EYEWEAR BRAND HAS SECURED A 4,800SQ FT UNIT, ITS LARGEST TO DATE IN THE COUNTRY, AT THE GALLERIA, THE CITY’S LEADING UPSCALE SHOPPING
CENTRE. THE INTERIOR DESIGN, CREATED BY THE BRAND’S IN-HOUSE DESIGN DEPARTMENT AT THE SEOUL HEADQUARTERS, SEES AN INFUSION OF THE NIFTY AND EVOCATIVE
HI-TECH INSTALLATIONS THAT GENTLE MONSTER HAS BECOME KNOWN FOR. ONE OF THE INSTALLATIONS, DUBBED THE PROBE, IS A WALKING MECHANICAL CREATURE,
LIKE A SPIDER, BUT WITH SIX LEGS AND AN INSTALLATION OF A GIANT KINETIC HEAD WITH HYPER REALISTIC BLINKING AND SUBTLE HEAD MOVEMENTS.
DICK’S TO OPEN NINE HOUSE WORLD’S SMALLEST BIKE
OF SPORTS STORES IN 2023 STORE OPENS IN NYC

Retailer Dick’s has announced its decision to invest in retail The London-based maker of a leading folding bike brand has
development and open nine new House of Sport stores in 2023. opened its second outpost in New York City.
Dick’s Sporting Goods reported 2022 sales recently, with revenue London-based Brompton unveiled its first-ever “Micro
adding 5.3 per cent due to declines by some of the retailer’s closest Junction” store in Brooklyn’s Dumbo neighbourhood. Measuring
competitors in the market. only 70sq ft and dubbed the “world’s smallest bike shop,” the
Dick’s maintains its revenue forecast for 2023 and forecasts space is designed to showcase the unique features of the folding
revenue growth of two per cent. The company says first-quarter bike while encouraging sustainable, people-powered commuting.
sales increased 3.4 per cent and net income added 17 per cent. In The tiny retail venue is digitally connected to Brompton’s
addition to the nine House of Sport stores that will open in 2023, the e-commerce offering. Shoppers can purchase any Brompton for
retailer also announced the opening of 10 outlets in 2024. By 2027, delivery to their home or pickup at the flagship store, Brompton
the company expects the chain to grow from 75 to 100 outlets. Junction, in Manhattan’s West Village.
Experts say Dick’s revenue growth shows the retailer is “ahead Designed by Barrows Global, the shop is optimized at every
of trends and capturing market share”. Unlike other chains more touchpoint to bring the Brompton brand story to life, as well as
focused on apparel and sneakers, the retailer offers a large selection showcase the flexibility of its products.
of sports equipment, including for team sports. Visitors who take a “Selfie Test Ride” can explore the Brooklyn
Back in March, the company also completed the purchase of waterfront’s most iconic views by bike and post their Brompton
Moosejaw which will add more revenue come the end of the year. selfies to Instagram.

10 RETAIL & LEISURE INTERNATIONAL JUNE 2023