Dive Brief:
- Retailer Showfields closed its New York City store in the NoHo neighborhood this month, according to details shared with Retail Dive.
- “This move is a part of a series of steps we are doing to secure the company for profitability and future expansion,” a company spokesperson said in an emailed statement.
- The latest closure follows Showfields’ decision to close its Miami store in July. The company plans to focus on its stores in Brooklyn and Washington, D.C., according to the spokesperson. Showfields’ store at Westfield Century City in Los Angeles remains open.
Dive Insight:
The retailer that dubbed itself as “the most interesting store in the world” is shifting to better align with its profitability and expansion goals.
The department store — which focuses on selling a mix of mainly digitally native brands — opened its NoHo store in 2019, which spanned 14,707 square feet across four floors. The store featured a rotation of brands that were featured in the space for between four and six months.
Its Brooklyn and Washington, D.C. stores opened during the fourth quarter of 2022. Showfields’ D.C. location is under a 10-year lease deal with D.C. real estate development firm EastBanc. The 20,300-square-foot space showcases a variety of brands every six months.
Just a few months before closing, Showfields added new brands to its Miami store in March. The location added a space dubbed its Mushroom Market, featuring fungi-based products from brands like Fungies, B.T.R. Nation, Popadelics and more.
Showfields’ goal to bring unique and predominantly direct-to-consumer brands to physical stores is growing across the industry. Mall owner Simon Property Group in November partnered with Leap, which helps DTC brands open stores, to bring more brands into malls. At the time, the two companies planned to open four stores in California and Florida for brands such as ThirdLove, Sugarfina and Goodlife. Leap in July announced it raised $15 million in a funding round led by current investors BAM Elevate and Costanoa Ventures, with participation from Equal Ventures and more.
Some digitally native and traditionally wholesale-focused brands are going forward with brick and mortar on their own. Toy brand Melissa & Doug plans to open its first store in October, which will be located in White Plains, New York. Children’s brand Radio Flyer — known for its red wagon — is set to open its first store in November after more than 100 years in business. Additionally, direct-to-consumer kitchenware brand Our Place opened its first store in November 2022 in Los Angeles.
