Friday was the grand opening for R.E.I.'s first Manhattan store.
It's a big deal for the Seattle-based company to finally break into this market — and in such a prominent location. Its 35,000-foot store is based in the historic Puck building in Soho, which is owned by real estate mogul Jared Kushner.
REI has stayed away from New York City, but now it's trying to reach people "who've never been out of Manhattan." Part of that strategy involves selling more casual clothes and making its bike shop a focus. But it's still targeting die-hard sports enthusiasts.
There are already several outdoor brands based in the city, including North Face and Paragon Sports. If REI had waited too long, it would miss out on a growing outdoor-gear market. Scott Jaeger, a senior retail analyst for Leisure Trends Group, told the New York Times that "sales increased 10.3 percent in 2010 and 11 percent so far this year" within the industry.
REI was recently voted the top retailer to work for in America, according to an employee survey by Glassdoor.
