Online jewelry retailer BaubleBar is set to open its first brick-and-mortar location.
Since its launch four years ago, the trendy fashion jewelry seller has boasted a 200 percent growth in 2014 and 1,500 orders a day. To complement its online success, BaubleBar will open a 1,200 sq. ft. store in Long Island's Roosevelt Field Mall, one of the largest shopping centers in the country, Forbes reported.
The location, owned by Simon Property Group, seemed like the perfect, suburban hotspot, according to co-founders Amy Jain and Daniella Yacobovsky.
"We have a very strong customer base in the Tri-state area," Jain told Forbes. A great location for reaching its core shopping base—millennial women.
Industry sources suggest the company brings in about $75 million in revenue, up from $11 million in 2012, the retailer's first year in business.
Thus far, the company has raised $15.6 million in three rounds of funding.
Although Long Island will be the first permanent brick-and-mortar store, BaubleBar has tested offline sales in the past through pop-ups and partnerships with fashion chains such as Nordstrom (NYSE:JWN), Bloomingdale's (NYSE:M) and Anthropologie (NASDAQ:URBN).
One of the challenges the new physical store will face is updating the inventory at the fast rate shoppers have come to expect. Luckily, a large distribution facility is not far from the store.
"We have 75 to 100 new styles per week, and an operation built to do that online," Jain told Forbes. "It's tougher in a retail format."
-See this Forbes article
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