Thom Browne expands retail strategy
16 Nov 2020
Thom Browne is doing what few brands would dare to do right now, expanding their retail strategy. The brand will count 60 stores globally by the end of the year, with plans to add another 15 by 2021. The brand has grown to 200 million dollars in sales. The company’s success has been attributed to both Browne and its CEO Rodrigo Bazan who joined as CEO in 2016. In 2018, Ermenegildo Zegna Group acquired a majority stake in Thom Browne with the intention of growing the business.
Although Thom Browne did have to shutter its stores during the pandemic, they did manage to invest in their digital strategy and ramp up clienteling efforts. Parntering with Farfetch has also proven to be very lucrative for the brand.
In the past two years, Thom Browne has added three stores in North America alone. The brand’s first store was in new York City, but, since then, they have added one in Miami, one in South Coast Plaza in California, and one in Yorkdale in Toronto. Of the brand’s 60 total stores, 40 are operated directly and the other 20 are franchised. All of the stores are profitable.
Thom Browne recently opened a store in London on November 6, but it was forced to temporarily close just four days after reopening due to London reinstating coronavirus lockdown restrictions. The brands 13 stores in China also began seeing a rebound in April and are now very profitable. While it might be a tough time in retail, Thom Browne appears to have a magic formula.
Photo courtesy of Thom Browne