Destree begins its retail expansion with its first flagship store in Paris
The first Destree boutique (formerly known as D'Estrëe) greets visitors with the sinuous curves and structural volumes that adorn its interior at number 3 rue du 29 juillet in Paris, in the first arrondissement of the French capital, just a stone's throw away from the Tuileries gardens. The unique 50-square-meter space was conceived by Brooklyn-based sculptor Simone Bodmer-Turner to reflect the brand's Paris and New York influences.
"We wanted to open a place where we could present all of our collections, which include leather goods, jewelry, hats and ready-to-wear," explained founders Laëtitia Lumbroso (former collection director at Christian Dior Couture) and Géraldine Guyot to FashionNetwork.com.
"The physical expression of a brand in retail and the encounter with customers is essential. This store opening represents a turning point for us," she added about the brand, which was founded in 2016 and is known for its harmonious colors and the asymmetry of its minimalist pieces.
This significant step forward for the premium brand came just a few months after its capital increase. The Series A strategic operation, which closed last April for which financial details were not disclosed, brought in a select group of internationally renowned investors, led by the likes of Beyoncé, Rihanna, Jessica Alba, Gisele Bündchen and Reese Witherspoon.
Upcoming destinations: Qatar and London
"The financing round has allowed us to accelerate our retail and digital development," said the entrepreneurs, who kept a majority stake in their company, explaining that one of their priorities has been to "hire new employees since the beginning of the year to accompany this growth". Today, the firm has 14 employees and has beefed up its teams in "all divisions" (studio, product, production, digital and retail).
Destree is currently present in the physical channel with 80 international points of sale, including department stores and concept stores, and has just recently launched a new corner in Le Bon Marché, in Paris, and a pop-up space in London's Selfridges.
Driven by the capital increase, the company is looking to open stores worldwide, starting with the inauguration of its own boutique in Qatar in September. Destree will also land in London in the coming months and plans to set up stores in Asia, specifically in China and Japan, in early 2023. New York City is also on Destree's radar.
The online channel represents 50% of sales
While the brand does not disclose details of its financial results, its founders are confident that it will perform well in the online channel, which already represents 50% of its total turnover. With the United States as its leading market in terms of sales, closely followed by France, Destree also boasts a good "take-off" in the Asian region since 2020.
Initially positioned in the women's accessories market, Destree is now relying on its "heavyweight " leather goods and jewelry. The company's founders are also celebrating the success of their ready-to-wear designs, which were introduced eight months ago. "The launch has been a real success. The category is growing and occupies an increasingly important place in our business".
"Building a brand means investing heavily in order to increase awareness. And that's what we're going to continue to concentrate on," concluded Guyot and Lumbroso about their plans for the future.
Copyright © 2022 FashionNetwork.com All rights reserved.