Menswear designer revealed he is planning to open three stores this month — including his first outside of the New York City area — followed by another handful next spring.
Snyder said New York represents 40 percent of the brand’s business but Los Angeles is the company’s second-largest market, accounting for 20 percent of overall sales. He opened a pop-up in L.A. about a month ago, and “the customer welcomed us. It was a real eye-opener and it showed us what we needed to do.”
All of the new units will offer the breadth of the Todd Snyder men’s collection as well as an assortment of third-party brands and exclusive collaborations such as those with Champion and D.S. & Durga along with Assouline books, mules and bags by King Kennedy Rugs and a shoe shop with brands including New Balance, Converse and Alden. Snyder will also use the stores to highlight his long-standing partnership with New York eyewear brand Moscot.The L.A.
“We’ve taken our time with expanding outside the New York metro market and have been very strategic when choosing new locations by carefully assessing each city and where our key demographic is more apt to shop,” Snyder said. “We’ve spent a lot of time growing Los Angeles metro to be our second largest e-commerce market, so when it was time to map out our expansion, this was the most important market to begin planting physical roots for our customer.
Despite the focus on retail, Snyder said 90 percent of the company’s sales continue to come from online, a figure he hopes will drop to 80 percent once the stores in major markets open this year and next. “That’s my goal,” he said, “to have retail represent 20 percent of our sales.” When Snyder launched his brand 11 years ago, he followed a more traditional path of selling through wholesale channels. But that has changed and he no longer sells outside his own stores and e-commerce site., which purchased Todd Snyder for $11 million in 2015. The first store opened in Madison Park the next year.
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