Something Navy's Arielle Charnas in Bandier's exclusive Something Navy x Monrow collection.
The activewear market shows no signs of slowing down — and Bandier wants to capitalize on the craze.The retailer which raised $4.5 million in funding from Simon Ventures and friends and family last year, according to Neil Boyarsky, Bandier’s chief executive officer, is in the midst of raising another round. The additional capital, he said, will enable for company to both scale a fast-growing e-commerce business and open stores in key markets.An industry source said the brand is on track to do $20 million at retail in 2017, the retailer’s second full year in business, with sales split almost evenly between dot-com and in-store. E-commerce commands 45 percent of overall sales, up from 20 percent last year, Boyarsky said. In a year from now, though, he expects the ratio to flip, with bandier.com driving 55 percent of the business and the rest coming from freestanding stores.With a network of five doors — four in New York and one in Dallas — Boyarsky is ready to take on the West Coast. Los Angeles is the next city on tap for Bandier, he said, where a flagship will open by year’s end."It's not that we think stores are unimportant.…We think about our business growing through the web and letting that inform where we open stores. That to us is an indication of where we should open," the ceo explained, noting that while the web site remains the priority, simultaneously expanding Bandier's physical footprint in areas driving high e-commerce volume is a close second. Such was the case with California, where web business went from 5 percent of total e-commerce sales to 16 percent.But today, it's becoming harder to gain market share in the activewear sector as players are increasingly carrying many of the same brands. Vying for that consumer is key — especially through social media and digital marketing — but differentiating through product offering remains a priority."From the beginning, it's always been about product for us.…We started with exclusives…and because we were early on the trend, developing the relationships with the brand partners that we have [now] was easier for us to do because there wasn’t that level of competition. We were able to ask for exclusivity to certain products, and that’s only grown," Boyarsky said.Today, close to 50 percent of the more than 40 brands carried at Bandier have elements of their range that are exclusive to the retailer.For instance, Bandier worked closely with luxe brand Ultracor — where bottoms typically retail for around $200 — to tweak their popular star-printed leggings. A $196 version with a higher waist and no center seam was produced in five colorways and, according to Boyarsky, the single style sold out and drove $200,000 in sales in one month. There is a lengthy waiting list for a second delivery."We had no idea what the true demand was behind product that we were selling. Just recently having added a wait list functionality now informs our buys because we can buy more accurately. A lot of it was born out of doing these collaborations. We didn’t know how much business we were missing," he said.Bandier's success also might have something to do with maintaining its positioning as a multibrand retailer — versus trying to become its own activewear brand.Instead of turning to private label the way activewear e-tailer Carbon38 has, Bandier continues to set itself apart through a series of exclusive collaborations with bloggers and fashion brands. Partnerships have spanned limited-edition capsules with Prabal Gurung and Cushnie et Ochs, but the most lucrative — and buzzy — of the retailer’s partnerships have been those created with influencers.Those who Bandier has teamed with so far include Something Navy’s Arielle Charnas; We Wore What’s Danielle Bernstein; Alexis Ren; A Bikini a Day’s Natasha Oakley and Devin Brugman and “fit-fluencers” Karena Dawn and Katrina Scott of Tone It Up.And it’s working as a business strategy. Boyarsky revealed that 12 percent of Bandier's sales come from either collaborations or exclusive product, with the goal of expanding this portion of the business to 20 percent over the next two years.Last July, 1,000 of Charnas’ fans showed up at Bandier’s Flatiron store in Manhattan to score pieces from her Something Navy x Koral collaboration and meet the 29-year-old influencer. Reportedly, she moved $10,000 worth of product in 90 minutes in-store, and the collection completely sold out online, equating to $100,000 in sales in less than one week. The release of Charnas’ Something Navy x Monrow collection in mid-May yielded a similar response. The range saw 75 percent sell-through online in the first day and sold out of almost half of the collection’s eight styles.
@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)