Digitally native retailers join PREIT’s mall line-up
Four retailers founded online are expanding their brick-and-mortar footprints.
Real estate investment trust PREIT is welcoming four brands that were formerly online-only to two of their properties: Cherry Hill Mall, in Cherry Hill, N.J., and Woodland Mall, in Grand Rapids, Mich.
“As the retail ecosystem continues to evolve, the mall platform offers a tremendous opportunity for digitally native brands to expand their business and interface directly with consumers," said Joseph F. Coradino, CEO of PREIT. "Today's consumer values in-store shopping experiences, where they can touch and feel products. We continue to see retailers that began online complement their digital presence with brick-and-mortar locations."
Among the retailers setting up shop is makeup brand Morphe, at Cherry Hill Mall. Founded online and on social media in 2008, Morphe offers professional-grade makeup at affordable prices.
“This year, we have expanded our brick-and-mortar footprint and will be open in 50 locations by the end of the year,” said Kahla Broussard, VP of retail sales & operations at Morphe. We know that makeup and beauty are personal, so we wanted to make the experience personal as well – allowing our consumers to experience and play with our products firsthand. We've also found that our consumer is more adventurous in-store, trying new colors, styles and trends, allowing their creativity to flow.”
The other three digitally native retailers opening in PREIT malls are below.
• Stance: Founded online in 2009, Stance is credited with turning socks into a fashion accessory and is billed as the sock for 'sneaker heads.’ The company, which also sells t-shirts and men’s and women’s underwear, opened its first physical location in 2015, and currently operates some 22 stores nationwide, including four outlet stores. Its new store at Cherry Hill Mall outpost is the company’s first location in the Philadelphia area.
• Makarios Décor: The home décor company has opened its first store, at Woodland Mall in Grand Rapids, Michigan. The brand, which was founded by a husband and wife team, specializes in creating an authentic product line of handmade home decor pillows, signs, mantels, shelves, furniture, home accents, wedding packages, corporate merchandise, landscape, and complete custom pieces.
• Peloton: The fast-growing exercise and equipment company is expanding its footprint at Cherry Hill Mall to a traditional storefront after experiencing success with a kiosk location in the common area during the past year. Founded in 2012, Peloton is best known for its luxury stationary bicycles, which allow users to stream cycling and other fitness classes in the comfort of their homes, while providing a group fitness mentality and energy through virtual rides and competition complemented by a leaderboard. The company operates approximately 74 location in the U.S., seven in Canada, nine in the U.K., and four in Germany.