PARIS — Theory is testing its hypothesis for building a successful contemporary global brand.
That means, “easy to understand, wearable clothes with subtle sex appeal for everyday life,” according to Andrew Rosen, president and founder of Theory, which opened its first European store last week here at 47 Rue Bonaparte. “A brand has to have a global strategy and then execute locally.”
Theory, founded in 1997 and based in New York, recently opened shops in Beijing, Shanghai and Hong Kong, and “reaction was very strong throughout the world, especially in Asia,” said Rosen. He said that success prompted expansion in Europe, where Theory comes up against such contemporary brands as Joseph and Vanessa Bruno.
Spreading out over 1,300-square feet, the Paris unit consists of three separate rooms with wood floors, white walls, black display units and couches for fatigued shoppers. The boutique has a New York feel, but the view of the quaint Saint- Germain courtyard in the back is unmistakably Parisienne.
“We didn’t want to follow a flagship format. We wanted accessible stores in key locations to make shopping an easy experience,” Rosen explained. The company expects the store to bring in around 1.7 million euros, or $2.2 million, in retail in its first year.
With financial and distribution networks set up in Germany and European headquarters in London, Theory intends to grow in Europe, Rosen said. He said he expected to open three fully owned stores in Paris and two London stores in the next year.
Looking ahead, Rosen said Milan was also on the charts for a fully owned store, as was Germany. A licensed store just opened in Athens and partnerships are expected to open in Turkey and Switzerland within the year.
In the U.S., Theory has 17 retail stores and 15 outlets, and its worldwide headquarters and flagship opened on New York’s Gansevoort Street in November.