Leap's Store Network Expanding into Five Additional Domestic Markets

Store network growth spurred by brand demand and platform investments following $50 million Series B funding round

NEW YORK and CHICAGO, May 3, 2022 /PRNewswire/ -- Leap is today announcing the expansion of its store network into five more domestic markets, enabling brands to deploy omnichannel retail stores via its platform into premium locations in Boston, MA, Columbus, OH, Greenwich, CT, Philadelphia, PA and Washington, D.C. for the first time. As Leap continues to invest into its platform systems and operating capabilities while adding additional markets, its store network will continue to grow in all its existing markets including New York City, Los Angeles, Chicago, Southern Florida, Dallas, Austin, Scottsdale, and San Francisco.

"We're excited to build on our platform's proven success and enable our brand customers to access premium locations in these five new US markets. Our analysis, which is based on millions of data points across brands and products, as well as omnichannel shopper insights plus local real estate, shows that these new markets are ideal for the brands on our platform," said Amish Tolia, co-founder and co-CEO at Leap. "Retail has always been fundamental to brand building, and, as brands face supply chain challenges and rising online customer acquisition costs, omnichannel retail has become even more important. We couldn't be more excited to expand our network and accelerate growth toward our ultimate vision – a future in which platforms like ours power stores for every winning brand and business, big and small."

Today, Leap has more than 20 million shoppers on file and operates 55 retail stores for dozens of brands, including Goodlife, Mack Weldon, Naadam, Something Navy, and ThirdLove, with new stores launching for Frankies Bikinis, Globe-Trotter, and more in the coming weeks. By deploying stores near one another, often on the same block as it has on Bleecker St. in New York City and Abbot Kinney Blvd. in Venice, CA, Leap creates local and national economies of scale, and enables brands to connect with shoppers more quickly, resulting in better sales performance. And, by signing leases directly with landlord partners, Leap mitigates risk to brands and landlords alike.

"We're eager to build upon our success in retail this year and enter some of these new markets with Leap," said Heidi Zak, Co-Founder and CEO of ThirdLove. "By leveraging the Leap Platform we're able to acquire more customers and grow our brand across the country, with built-in efficiency from day one."

In addition to working with modern brands, Leap works with retail landlords, brokers, and developers to lease store locations for brands on its platform across neighborhood storefronts and high performing malls and lifestyle shopping centers. "Leap is a great partner that allows us to introduce winning brands into our premium properties quickly, attracting even more valuable shoppers," said Tim Phair, Principal at L3 Capital. "We're excited to continue to scale with Leap as its presence grows throughout the US."

About Leap

Leap is building the world's largest network of branded retail stores – powered by data, technology, and scale. Leap's platform enables brands to deploy stores that work in concert with ecommerce more rapidly and at significantly reduced cost and risk. Brand stores powered by Leap bring modern brands to life with compelling, immersive customer experience and operations driven and informed by millions of data points. Learn more about Leap's platform, and brand stores powered by Leap, at  http://leapinc.com.

SOURCE Leap