The Scandinavian outerwear specialist Rains has opened its 30th store internationally with a Madison Avenue location.
As its name hints at, Rains is all for inclement and chilly weather, but there is also a fashion undercurrent through its jackets, accessories, and travel items. Founded 12 years ago in Denmark, the company initially focused on Europe and Scandinavia before expanding into the U.S. with the aim of becoming more international. With a handful of stores in New York, Rains’ newest addition is a 600-square-foot one at 575 Madison Avenue and another will soon bow at the Belmont Park Village. Rains, which also sells online and wholesales to specialty stores like Bergdorf Goodman, Nordstrom and Bloomingdale’s, could potentially have between eight and 10 stores in New York City, according to chief executive officer Jan Stig Andersen.
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“The way we work is that we look at the synergies between our revenue streams. It was very important for us branding-wise and awareness wise to open stores,” he said.
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By design, none of the company’s stores look the same and they also vary in size. The Madison Avenue one, for example, is more centered on branding to introduce new shoppers, whereas the SoHo location has more of an artistic flair to suit that area. The uptown outpost has a slightly higher average price due to the neighborhood’s well-heeled consumers. It also is considerably more compact than the Williamsburg store, which is 1,600 square feet. The Madison Avenue location has been designed by the architectural firm Stamuli.
As of now, North American sales account for between 20 and 25 percent of Rains’ global business of nearly $150 million. That significant market percentage was developed in about three years, according to Andersen. Rains has been seeing an annual growth rate between 40 and 45 percent, he added. Apparel — the majority of which is outerwear — accounts for 50 percent of the brand’s sales and accessories comprise the other half. Rainwear is a strength for Rains, which also has fashion-minded clientele thanks partially to having staged runway shows during Paris Fashion Week.
Although rainy or chilly weather will bolster sales, the brand is not completely weather dependent. Andersen said, “We have two legs to stand on — functionality and a fashion dimension. Of course, it’s good when it rains, because we sell a lot of raincoats. But the fashion part also makes our business very solid during the year.”
This fall’s unseasonably warm weather has been a challenge, but the unpredictability of weather is something that is ongoing, the CEO said. With plans to open a store in Vancouver next month, Rains aims to build its wholesale distribution, online business and freestanding store footprint in North America in the next three years. Additionally, footwear will be introduced next fall. Those plans are expected to boost annual sales in the region between 35 and 45 percent, during that time frame, Andersen said.