Is Shinola’s Americana fairy dust burning less bright?
Store closures, big-name designer posts left empty, reduced advertising efforts and layoffs are hitting the Detroit-based brand, which has built its name on American-assembled heritage goods and analogue watches. Despite these apparent troubles, chief executive officer Tom Lewland says sales are growing by double-digit figures.
Lewland, a former sports executive who joined the firm in 2016, confirmed store closures in Portland, Ore.; Miami and Los Angeles, as well as several pop-up locations, including New York City’s SoHo district. Shinola operates 28 stand-alone stores across the U.S., Canada and the U.K. and sells with third-party stockists including Neiman Marcus and Nordstrom. Soon the company will enter 35 locations of the midmarket Jared jewelry store chain.
“We are like any other company, transitioning from start-up phase to something more mature and scalable and it’s reflective of that. Any smart company in this retail environment is looking at how customers interact with the brand and product, and evaluating how to improve that in the most impactful and sophisticated way possible,” he told WWD last week.
Lewland would not reveal sales figures, but insisted that Shinola’s e-commerce site is experiencing double-digit sales increases and the in-store and wholesale businesses are
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