US home linens brand Parachute is rethinking its retail footprint and choosing smart partnerships over aggressive store expansion, according to Retail Dive.
The brand, once on track to open its 30th store by the end of 2022, is now just four stores shy of that target — but with a change in tactic.
CEO, Mehdi Ait Oufkir said the brand plans to deepen partnerships with Nordstrom and Target, where an exclusive collection launched in April.
Oufkir said the business is focusing “on markets where we already have strong community traction” and plans to maintain only seven physical storefronts. Parachute has shifted focus to partnerships with major retailers including Nordstrom and Target, the latter of which launched an exclusive 200 bedding and bath linen collection in April.
“Over the last year, we’ve taken a hard look at our retail footprint and made some difficult decisions,” Oufkir noted. “We went through a huge expansion period a few years ago during which we opened stores that were too large or in regions where brand awareness wasn’t what it needed to be.”
The partnership brought forth a new vision and realisation. “We don’t need massive storefronts to convince people to try them,” Oufkir added. “When the product is right, the brand speaks for itself.” Refocusing on core products, bedding and bath, streamlining from broader categories, bed frames and living room furniture, which are no longer sold on the brand’s website, will sharpen and strengthen the brands’ identity and improve profitability.
Parachute founder Ariel Kaye once said the brand’s stores were “an integral part of the overall customer experience.” But now, the company appears focused on leaner physical operations, high-impact collaborations, and strategic marketing to reach more customers more efficiently.
To further their growth and reach more customers, Parachute is now positioning itself to compete directly with mass-market and premium competitors alike.
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