In a retail fashion environment that so often is rife with news of closures and contraction, men's formalwear disruptor Suitsupply ($PRIVATE:SUITSUPPLY) is in a period of rapid international expansion. As of February 16, 2019, Suitsupply has opened 110 stores worldwide. Its retail strategy is, for lack of a better term, extremely 21st century, with a heavy emphasis on online transactions and customer service mixed with unusual physical locations that are more funky destination than local mall also-ran.
Until just a few days ago, Suitsupply listed 93 stores on its website. Then this week — in the throes of a round of investment from NPM Capital — it added 12 stores, bringing the total count to 105.
The new store locations point to a retail footprint strategy that includes international expansion in Asia and Euope alone with buttressing Suitsupply's United States presence in young-friendly cities from Boston to San Diego.
|Store Location Name||Country|
|Seoul Cheonho||South Korea|
|Seoul Hannam||South Korea|
|Busan Lotte||South Korea|
|Seoul Lotte Main||South Korea|
|San Diego||United States|
|St. Louis||United States|
|NY Williamsburg||United States|
So far, none of Suitsupply's new locations are in China, where the company has said it is looking to expand. Currently, the company has four stores in China.
Number of Suitsupply Stores
|United Arab Emirates||1|
While the United States makes up the majority of Suitsupply's locations, the Netherlands is a not-too-surprising close second given the company's roots. Founded in 2000 by Fokke de Jong in Amsterdam, Suitsupply still calls the Netherlands its corporate headquarters despite major successes in the United States.
This global brick-and-mortar presence, combined with a modern online mix, is helping Suitsupply disrupt the traditional men's formalwear companies, who may have overexpanded to the point of potential failure, as we covered a few days ago.