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.
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.
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