Suitsupply has hit a milestone, opening its 100th store.
The Amsterdam-based men’s wear retailer, which was founded in 2000 as a direct-to-consumer brand, opened 27 stores last year and six so far this year. The 9,000-square-foot store that opened on Newbury Street in Boston last week marked the 100th unit for the company internationally. It is the 37th location in the United States.
“The opening of our 100th location is a milestone for Suitsupply,” said Fokke de Jong, founder and chief executive officer. “We’ve built a global brand that excites customers. In a time when many brands are closing stores, we believe there is more growth ahead of us than behind us. People are drawn to Suitsupply because of the energy and flair we bring to tailoring. They want to experience our brand and product both in person and online. We’re excited for the future and see much opportunity ahead.”
The privately held company has posted 20 percent sales gains every year since its founding. It has made a mark with its sharply priced suits that are targeted at the Millennial customer. Off-the-rack suits start at $399 and go up to around $1,000. Made-to-measure is also offered starting at $1,100.
So far this year, Suitsupply has also added stores in Sydney, San Diego, Helsinki, Stockholm and Williamsburg, Brooklyn. It will open its first store in Frankfurt — and its sixth in Germany — this summer, and will add stores in St. Louis and Detroit later this year. In a recent interview, de Jong said Suitsupply is focusing more on expanding the mix in its existing stores than opening a slew of new ones. In SoHo, for example, which was the company’s first store in the U.S., another floor is being added to accommodate the company’s new women’s concept, Suistudio.