Perfect Moment, Ltd. will open its first retail store at 42 Crosby Street in Manhattan’s SoHo district this October and celebrate with the in-store launch of the brand’s AW24 womenswear collection.
“The store’s unique design will reflect the collection’s blend of forward-thinking style and timeless heritage,” the company said in a media release. “As a seasonal store, it will remain open throughout the upcoming winter ski and holiday shopping season from October through April.”
After reporting record growth from its e-commerce initiatives over the past year, Perfect Moment said its move into brick-and-mortar retail marks another major step for the global brand. But it could also be born of necessity as the company’s fiscal first quarter ended June was negatively impacted by the returns in its e-commerce business.
Company net revenues dipped 1 percent to $974,000 for the fiscal first quarter ended June 30, historically representing less than 5 percent of its annual net revenues, the year’s smallest quarter. Wholesale revenue totaled $52,000 in the quarter, up 68 percent compared to $31,000 in the year-ago quarter.
E-commerce net revenue decreased 4 percent to $922,000 in Q1, compared to $957,000 in the year-ago quarter. The company said increased e-commerce customers drove the decrease in returns due to end-of-season discounting and $143,000 of fiscal 2024 sales returned in the first quarter of fiscal 2025, which exceeded the company’s return reserve.
Had customer product returns in the first quarter of fiscal 2025 been consistent with Perfect Moment’s historical return percentage, the company said its adjusted net revenue would have increased 12 percent to $1.1 million.
The company said the seasonal presence provides an opportunity to explore the potential for more permanent retail locations. The move is also supported by the brand’s success at several multi-brand high-end retailers, including New York City’s status as one of the world’s top fashion capitals.
“Our SoHo store marks a pivotal transition for Perfect Moment, enabling us for the first time to engage directly with our New York community,” noted Perfect Moment’s Co-founder and Creative Director, Jane Gottschal. “The store will embody our commitment to innovation, blending our iconic heritage with forward-thinking style to create an experience that resonates with the local community. For the store opening in October, we will celebrate the vibrant energy of New York City as we bring our AW24 collection to life.”
Perfect Moment CEO Mark Buckley said in August that the company is interested in opening other pop-up shops and eventually opening year-round store locations.
“We anticipate these efforts, along with the enhancements to our customer’s e-commerce shopping experience, will further strengthen brand awareness and customer loyalty as we expand beyond our core skiwear and into the global luxury outerwear market. We see the successful execution of these initiatives positioning us well for growth and expanding market share in the second half of the fiscal year, with the aim to enhance shareholder value,” the CEO added.
“Throughout the season, the SoHo store will serve as a dynamic hub for brand engagement with several exclusive events and marketing campaigns,” the company noted in its release. “The initiatives will connect Perfect Moment with the local audience while enhancing the total brand experience.”
Image courtesy Perfect Moment, Ltd.
