LONDON — Reiss will roll out a series of retail initiatives in the U.S. and Canada, WWD has learned. The British label will be opening stores in New York, Miami and Toronto.
A 4,698-square-foot store at 520 Madison Avenue is scheduled to open Thursday, while a 2,735-square-foot Westfield World Trade Center location will open on Aug. 16 followed by a 2,242-square-foot store in Miami’s Brickell City Center on Nov. 3. A store in Toronto’s CF Sherway Gardens, which spans 2,407-square-feet, opened last month while Yorkdale’s 3,300 square foot store will open on Oct 17.
“North America is a key market for us and we are really excited about each of the openings this year and further expanding our presence,” chairman and chief executive officer David Reiss told WWD. “We are continuing to develop our presence within the U.S. and in particular the East Coast, and being such a highly prominent location, Madison will play a crucial role in our expansion plans.
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“These areas are all key premium shopping destinations; frequented all week by a mix of business and residential shoppers,” he added. “Madison Avenue is a luxury shopping destination; Westfield World Trade Center is a momentous project that we are excited to be a part of; Brickell City Centre in Miami is a hugely bold venture that was too good to miss. Toronto is a hub for business in Canada and with many of the population coming from Europe, it was an obvious choice for us.”
All of the locations will carry the fall 2016 range (CF Sherway Gardens launched with spring 2016), which includes men’s wear, women’s wear and accessories. The Madison store will offer a personal tailoring service for men’s wear and will house an edited selection of brands including Swims & Neville.
The company has enlisted D-raw Associates to design the Reiss stores in North America, with the appearance of each store reflecting its location. “Directional, design-led fashion has always been at the very core of Reiss and our new store concept delivers innovative modern luxury, combining traditional craftsmanship with high-concept architecture,” said Reiss. “Each new store’s design will share a common narrative yet be tailored to suit its location.”
These retail launches are a part of the brand’s rollout plans, which includes international expansion. Reiss noted that while the U.K. is the top performing market for the brand, it aims to focus on the U.S. market.
“We are a brand with a strong British heritage,” Reiss said. “The U.K. is our top-performing market; the U.S. follows closely behind and as our brand footprint is still at the formative stages of development there we see great growth potential. Our dress business for women’s wear and tailoring for men’s wear are key categories for Reiss, but as the modern formal wardrobe changes we see an increase in separates and mixers, as customers are keen to choose a ‘hybrid’ look combining tailoring with casual wear.”
The brand declined to disclose volume or sales projections but noted online business generates more than 20 percent of sales. “We are confident they will generate extremely positive returns,” he said of the new stores.
The company was acquired by Warburg Pincus in April, which took a majority stake in the label. The new ownership allowed the brand to expand further into the U.K. and overseas, with a focus on North America, Asia and Australia.
Reiss entered the U.S. market in 2004 with a store in New York’s SoHo.
The brand is a favorite of the Duchess of Cambridge, who wore a cream Reiss blouse for her official engagement photo. She also wore a Reiss dress when she met First Lady Michelle Obama in 2011.
Founded in 1971 by David Reiss, the international fashion brand operates more than 160 stores in 15 countries with a well-developed e-commerce presence. In the year ending Jan. 31, the company generated sales of 146 million pounds, or $208 million at current exchange, and earnings before interest, tax, depreciation and amortization of 24.4 million pounds, or $34.7 million.