Dive Brief:
-
Surf apparel retailer Billabong is working on rebuilding its brick-and-mortar network, despite having to close 34% of its stores over the past three years as a cost-saving measure.
-
Brick-and-mortar is key to building and maintaining a brand by communicating and interacting with customers, says CEO Neil Fiske.
-
The Sydney-based retailer ran 639 stores in 2011 and now runs 424 in Australia, the U.S., and Europe.
Dive Insight:
Billabong stumbled hard in recent years under crippling debt that led it to close stores in an effort to whack at its debt load. But it’s ready to begin re-opening stores again, says CEO Fiske. Previously CEO at Eddie Bauer Holdings Inc. and Bath & Body Works, Fiske says more stores are key to the surf brand and that the company will invest in communities with surf spots and surf culture.
“Stores are key to a brand’s health over time,” Fiske told Bloomberg. “The thing you can do in a store that you can’t really do on the Web is connect directly to that customer. You can make it come to life.”
