Build-A-Bear Workshop (NYSE:BBW) unveiled a new store model at the Mall of America in Bloomington, Minnesota. Kicking off the company-wide refreshing of the brand, the store reopened after months of renovation.
The new space is meant to increase productivity, optimize space, and update the brand's look. New elements include a sophisticated logo, a different store set-up and a color palette. Also, the space has an updated storefront with a teddy bear silhouette and a seven-foot stuffer in the store's center. Finally, the store features a new inspiration wall for displaying trends and fashions.
"At Build-A-Bear, our mission is to add a little more heart to life, and this new store design makes our unique, make-your-own furry friend experience even more engaging," said Sharon Price John, CEO, Build-A-Bear Workshop. "We are taking our signature experience to the next level with new opportunities for family fun and entertainment."
The location is the first to open with the new design, and renovations at 11 other stores are planned to be completed by the end of 2015.
In the digital realm, Build-A-Bear has an updated, mobile-optimized website designed for millennial moms and dads and a Bearville Alive YouTube channel.
"As we look forward to celebrating two decades in business, we have begun to reinvent the company in a number of ways, all with a consumer-centric, brand-building and data-driven approach," John said. "It's especially exciting to see our brand become 'multigenerational,' as parents who first engaged with Build-A-Bear when they were children are now bringing their own children to share in the experience."
Build-A-Bear's executive team is working on a multiyear vision to evolve the brand and return to profitability. Since John joined the company in 2013, the brand has focused on catering to millennials. More and more retailers are trying to reach out to this powerful consumer population. For example, Whole Foods (NASDAQ:WFM) recently announced the launch of a new store concept specifically geared toward millennials.
-See this Build-A-Bear press release
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