In its second-largest acquisition, Amazon buys the company for $970 million.
It’s the first bricks-and-mortar store for the upscale apparel e-retailer.
Gap Inc. is taking its e-commerce brand Piperlime to the streets of New York City, today opening its first Piperlime store in the trendy SoHo neighborhood.
Piperlime, which sells apparel, shoes and accessories from popular designers, is the second Gap-owned store to start as an online retailer and then extend to the physical world. The company launched its first bricks-and-mortar store for its Athleta division in San Francisco in 2011. It now operates 23 Athleta stores and has plans to open 10 more in the coming months. Athleta stores sell apparel for yoga, hiking, swimming and other activities.
The 4,000-square-foot Piperlime store includes kiosks that connect store shoppers to Piperlime.com, where they can see and order products not available in the store. Orders placed from the in-store kiosks get free overnight shipping, the company says.
“Today’s customers demand accessibility to their favorite brands across multiple channels,” says Toby Lenk, president of Gap Inc. Direct, adding that the company is able to use its resources and experience gained from the online and offline retailing worlds to serve customers’ demands. “We’re thrilled that Piperlime can now offer their customers the best of both worlds,” he says.
Gap Inc. Direct is No. 22 in Internet Retailer’s Top 500 Guide.