Dive Brief:
- Luxury skiwear and lifestyle brand Perfect Moment has hired two sales agencies to handle wholesale growth in Europe and Asia, per a news release.
- TBrand, owned by Riccardo Grassi, will lead distribution in Southern Europe including Italy, France and Spain. Maison DixSept will lead the brand’s expansion in Japan.
- The partnerships come as Perfect Moment faces a potential delisting from the New York Stock Exchange after going public in February 2024. The brand has until Friday to submit a plan to regain compliance with the market’s minimum stockholders equity requirements.
Dive Insight:
Perfect Moment’s latest agency partnerships build on a strategy to expand its wholesale presence. The brand in November retained sales agency CD Network to expand its distribution in the U.S. and Canada.
“I’ve worked with and seen these great agencies produce remarkable results for other emerging global brands,” Rosela Mitropoulos, head of business development at Perfect Moment, said in a statement. “I believe our brand is primed for the same — especially with the excitement building around our upcoming Winter Olympics collaborations.”
While Perfect Moment is building out its own fleet of showrooms — with locations in Milan, Paris and Tokyo planned for early this year — the brand’s strategy to increase its wholesale distribution follows a trend that other DTC brands have used. Wholesale remains the most profitable investment channel for brands, according to a NuOrder report from May.
But the distribution expansion comes on the heels of a delisting warning from the New York Stock Exchange after falling out of compliance with the market’s listing criteria, which require companies to have a stockholder equity of at least $4 million if they’ve reported losses in three of the last four years; Perfect Moment had $2.7 million. The company did not immediately respond to questions about its ability to file such a plan on time, although it did state in its response last month that it would file one. Perfect Moment also has until June 11, 2026, to meet the market’s listing standards.
