"We opened stores that were too large or in regions where brand awareness wasn't as high as it needed to be, said CEO Mehdi Oufkir."
"Parachute plans to focus on its e-commerce business and partnerships with large retailers such as Target, the company said."
Parachute Home has markedly reduced its physical retail presence from 26 stores to just 7, a strategic shift aimed at enhancing its e-commerce operations and partnerships with major retailers like Target. The company has faced challenges typical of direct-to-consumer brands, such as opening oversized stores and underestimating brand awareness in various regions. Despite a successful inception in 2013, Parachute is now navigating a tougher retail landscape, similar to other brands like Allbirds and Glossier, which have also struggled with physical expansions.
Read at Business Insider
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