A rendering of the YogaSmoga flagship coming to 10 Bond Street.
NEW YORK — With a dozen stores under its Supplex and Lycra waistband, YogaSmoga is taking on Manhattan with a 3,400-square-foot flagship at 10 Bond Street and the corner of Lafayette Street that's scheduled to open in May.YogaSmoga plans to unveil 25 to 30 stores this year, according to Rishi Bali, chief executive officer. The company expects to raise $25 million to $30 million through a Series C funding round that will support YogaSmoga’s next stage of growth.The previous round, almost a year ago, raised $6.5 million in a deal that valued YogaSmoga at $74 million. Ravi Singh, a retired partner of Goldman Sachs, is the lead investor, along with other Goldman partners.Bali’s goal is to operate 125 stores by 2018. “When we get those stores up and firing, we’ll generate $250 million in revenue,” he predicted. “That’s when we’ll do an initial public offering.”With stores in northern and southern California, New Jersey, New York, Connecticut and Massachusetts, Bali is eyeing Colorado, Arizona and Florida next. Bali this week signed a lease to open a store at the International Market Place in Waikiki, a new project that will be anchored by Saks Fifth Avenue.YogaSmoga is carving a niche for itself at the high end of the athletic wear market. Its proprietary fiber technology and Made in the U.S. production allow YogaSmoga to charge a premium — $280 for a reversible pullover with air built in between two layers of fabric, and $185 for leggings with breathable mesh fabric inserts.Tapasya Bali, YogaSmoga’s cofounder and Rishi’s sister, said the company has similarly exacting standards for color. For example, Carbon 6 Black, a trademarked shade of deep black, is achieved by first combining two fibers and then dyeing them, rather than dyeing each fiber separately as is the norm. The result is not only a very dark but also a very opaque fabric.For a long time, YogaSmoga refused to use printed fabrics because of concerns about fading. Then it developed Aurum Augusta, which has superior color retention, Tapasya said. The brand has an exacting printing technique that ensures garments are patterned with a design that highlights the musculature of the female body.YogaSmoga stores are located in affluent communities such as Greenwhich, Conn., and Beverly Hills, Calif., and high end shopping centers such as the Mall at Short Hills in Short Hills, N.J., and Fashion Island Mall in Newport Beach, Calif.Bali said the company plans to open stores in Canada and Australia as it continues its rollout in the U.S. Sales per square foot for existing units range from $600 to $1,200, he said.The Bond Street flagship will feature YogaSmoga fabrics throughout the interior, which will be designed by architect Annabelle Selldorf, who also designed the building, a new construction.On the lower level of the two-level space will be a YogaSmoga Next Door, the company’s yoga lounges, which are used for classes and community events. Not every YogaSmoga location has a Next Door component; they exist where square footage allows. The La Jolla and Malibu County Mart locations, both in California, feature Next Doors.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)