Leap Platform Expanding Store Count 300% in 2021
Turnkey platform for modern retail stores raised $15 million of new capital since pandemic began to expand store footprint
Leap, the retail platform for modern brands, today announced it will expand its fleet of stores by 300% this year. On pace to have 50 stores open by the end of 2021 and 250 by the end of 2022 – an additional 400% growth, Leap is accelerating growth for brands through its Platform that opens and operates immersive retail stores.
Brands on the Leap Platform leverage Leap’s infrastructure, operations and technology to launch stores in highly desirable locations with more efficiencies and less risk. Brands such as Goodlife, Faherty, Birdies, Mack Weldon, Naadam, Public Rec, Something Navy, UpWest, Pact, Vincero, Ashley Stewart and more are utilizing Leap to grow their retail footprint, increase omnichannel customer lifetime value and reduce customer acquisition costs. Leap currently operates stores across New York City, Chicago, Los Angeles, San Francisco, Dallas, Austin, Scottsdale and southern Florida.
As brand customer demand for stores has accelerated Leap’s growth, Leap raised $15 million in capital including Series A funding from Hyde Park Venture Partners, Costanoa Ventures, Equal Ventures, and Lightbank. This funding is enabling Leap to further develop its technology and team and add more brands and stores to its footprint.
“Brands are looking to grow via fully immersive retail stores to build their brand and acquire customers without traditional risks, barriers to entry and liabilities.” said Amish Tolia, co-founder and co-CEO at Leap. “Our platform approach is the future of retail. Qualified brands are now able to scale their physical retail strategy without having to outlay significant upfront capital or dedicate internal resources to real estate, leases, store design, staffing or technology.”
The Leap Platform is built on millions of data points across its network of stores, locations and brands. Proprietary algorithms, combined with world class operations, local market expertise and efficiencies from store clustering help ensure success for brands. In 2021, Leap expanded into Los Angeles, Dallas, Austin, Scottsdale and southern Florida, building on its pre-pandemic presence in New York City, Chicago and San Francisco.
“Stores are core to our strategy for building our brands and driving overall growth,” commented Matt Scanlan, CEO of Naadam and Something Navy. “But developing and managing the complex infrastructure required for physical retail isn’t where we want to invest. By leveraging the Leap platform for stores, we can scale more rapidly with more flexibility and less risk, all while focusing on what we want to be best in the world at – creating awesome products and deepening connections with our customers.”