First Look: Foxtrot Market expanding on heels of new funding
A retailer that combines the best of neighborhood retail and e-commerce technology is expanding in the Washington, D.C., market and beyond. In total, the company, which currently operates 12 stores, plans to open nine locations across D.C., Dallas and Chicago this year.
Launched in 2014, Foxtrot combines an upscale corner store and café with app-based purchasing that makes its entire inventory available for delivery in under an hour. Sales are divided equally between online sales and in-store purchases. The new D.C. store features a high-performance coffee bar and an extensive wine selection curated by Foxtrot’s in-house sommelier along with an all-day café offering seasonal chef-prepared foods. The location lends itself to a more grab-and-go feel, while still offering indoor seating and a patio for the warmer months.
In February, Foxtrot received a $42 million Series B growth investment, with the round led by Almanac Insights and Monogram Partners. Backers also include food and hospitality industry notables David Chang, founder of Momofuku; Nicolas Jammet, co-founder and chief concept officer of Sweetgreen; and Walter Robb, former CEO of Whole Foods.
In addition to store expansion, the new investment will also be used to expand Foxtrot’s line of private-label packaged goods and gift offerings, and to continue the investment into nationwide shipping, which the company launched in January.
Additionally, Foxtrot has made three new appointments to its executive team: Sumi Ghosh, COO; Scott Holloway, senior VP, delivery; and Caroline Barry, VP, strategy. The new additions earned their stripes in leadership positions at Starbucks, Instacart and Sweetgreen, respectively.
"With this new round of funding and an incredibly strong executive team now fully in place, we see 2021 as a year of tremendous growth for Foxtrot," said CEO and co-founder Mike LaVitola. "We have built a business that marries the local approach of a corner store with the convenience of e-commerce. We know how our stores operate best and in which markets, which is where we'll be going deep with our expansion efforts next. We also look forward to showcasing to customers coast-to-coast what Foxtrot is all about as we continue to rollout shipping nationwide."