Following in pursuit of other direct-to-consumer brands, retailer Hanky Panky has made the decision to move offline and open their first-ever physical store. Hanky Panky’s brand new brick-and-mortar location is now open in the West Village of NYC.
With the expansion into brick-and-mortar shopping, the brand plans to host in-store events and exclusive perks for customers.
“Hanky Panky has been a staple in the industry and in women’s lives for more than four decades, and we’re so excited to announce we’re officially opening our doors, which will truly bring the brand to life. Giving our consumers products that set the tone for their day and make them feel [like] their best selves has always been at the core of what we do, and we’re thrilled to be able to do that in a whole new, more personal way,” said Brenda Berger, CEO of Hanky Panky.
Hanky Panky is among many other DTC brands that have made the move to brick and mortar, including Burrow, Glossier, FRANKiE4, Warby Parker, Allbirds, Billie, Casper and more. The pandemic sped up this process significantly, causing many retailers to see the apparent frictions associated with e-commerce shopping. DTC brands are quickly noticing the prime marketing opportunity and sense of human connection that in-store shopping brings to consumers.
According to a recent Q2 earnings report, DTC brands are experiencing financial losses in a tough operating environment. Companies such as Purple, Warby Parker, Canada Goose and Brilliant Earth are primarily focusing efforts on physical retail to expand their footprint and raise earnings potential.