Next-gen retail services platform, FlagshipRTL, has opened its newest pop-up for women’s ready-to-wear brand, Proenza Schouler, in East Hampton, New York. FlagshipRTL partnered with the luxury fashion label to mastermind store location and lease negotiations, as well as on the store’s construction and comprehensive, hyper-local marketing strategy. The storefront will remain through the end of 2021.
FlagshipRTL has launched tellingly profitable (even in the face of the coronavirus pandemic) for luxury brands like Proenza Schouler, Moncler, Bonpoint, and Bogner in 15+ markets. The company has embarked to redesign retail systematically, by building a proprietary, customizable suite of services backed by real-time data, designed to resolve the pain points of current brick-and-mortar retail predominately through game-changing market testing.
Flagship’s data-driven insights and proprietary market intelligence helps individual brands tailor their retail strategies to shifting customer geographics and migratory customer bases, and move quickly on the right markets and spaces. Flagship helps give brands the tools to first test out new geographic markets with speed and short-term flexibility over a few months, without the financial burdens and risks associated with traditional multi-year commercial leases.
For many brands, customer acquisition costs in the paid digital sphere have spiraled to untenable levels. New restrictions and regulations on brand acquisition of third-party data pertaining to retargeting only amplify those problems. FlagshipRTL is trying to prove that brick-and-mortar stores are now one of the best ways to collect first-party data and drive omni-channel growth.
FlagshipRTL takes a foundationally egalitarian approach to onboarding brands by making physical retail accessible to all. Though the company specializes in supporting the needs of fashion, lifestyle, and beauty brands, the providence of those brands varies drastically from decades or centuries old well-established design houses, to emerging independent designers, to digitally-native DTC brands.
“Brick-and-mortar retail, if modernized, is set for a tremendous rebirth,” said Justin Abrams, CEO of FlagshipRTL, in a statement. “We knew from the beginning that this wasn’t just about being a matchmaker for brands and our commercial real estate partners. That was just the tip of the iceberg - we knew we needed to invent an all-in-one toolbox of services to best support our brands’ physical footprints. Every single brand on our platform has plans to scale 3-5x with Flagship in 2021, which goes to show that an agile model where brands can test is what’s needed to take retail into the future.”
He added that, “We can rewrite the rules of retail by looking at the data – in-store shopping is not only here to stay, but it is integral for digital success too. At Flagship, we’re applying a fail-fast model to physical retail, that empowers brands to approach scaling in a whole new way - through data-backed short-term market testing, our proprietary marketing engine, and an entire suite of pick-and-choose tools and services designed to navigate the retail world today.”