TORONTO, April 30, 2018 /PRNewswire/ - Roots
("Roots Canada" or the "Company") (TSX: ROOT), an iconic lifestyle
brand with a rich Canadian heritage, today announced it is opening
two U.S. retail locations in the Greater
Washington, D.C. area in August
2018.
"We believe the U.S. represents a minimum 100-store market
opportunity for us, which is an important long-term growth driver."
said Jim Gabel, President and Chief
Executive Officer of Roots. "We will have four new stores open by
the end of the summer, moving us well down the path toward our
target of 10 to 14 new U.S. retail locations by the end of 2019. We
are confident our inclusive lifestyle brand with its legendary
feel, will resonate well with U.S. customers. With a growing retail
footprint and an e-commerce platform that ships to all 50 states,
we are increasingly able to bring our iconic Roots brand to a
broader base of customers across America."
Roots is bringing its premium lifestyle brand (consisting of
apparel, leather goods, footwear and accessories) to Washington D.C. by opening a 3,550 square foot
store on M Street, the pinnacle of high street retail located in
the Georgetown neighbourhood. The
store will be one of the Company's award-winning "Enhanced
Experience" formats, where shoppers will be able to engage with the
distinct character and heritage of the Roots brand, while
interacting with product in a visually stimulating and socially
connected environment. Going well beyond featuring the Company's
world-famous sweats, shoppers will be able to customize a selection
of handcrafted leather bags and awards jackets, as well as enjoy a
heritage wall, customer lounge and other design features that will
add to the in-store shopping experience.
The second Roots location in the area will be a 3,200 square
foot store in Pentagon City, a Super Regional Mall in Arlington, V.A. In a high-growth office and
residential market, located moments away from Washington D.C. and on the Washington D.C. metro system, Fashion Centre
at Pentagon City is home to more than 170 stores, including many
flagship retail brands.
About Roots
Established in 1973, Roots is an
iconic Canadian lifestyle brand with a rich heritage and portfolio
of premium apparel, leather goods, accessories and footwear. Roots
delivers products to customers through its store network, online
platform and international partnerships. As of February 3, 2018, Roots integrated omni-channel
footprint included 116 company retail stores in Canada, three company retail stores in
the United States, 110
partner-operated stores in Taiwan,
32 partner-operated stores in China and a global e-commerce platform. Roots
Corporation is a Canadian corporation doing business as "Roots" and
"Roots Canada".
Forward-Looking Information
Certain information in
this press release contains forward-looking information. This
information is based on management's reasonable assumptions and
beliefs in light of the information currently available to us and
are made as of the date of this press release. Actual results and
the timing of events may differ materially from those anticipated
in the forward-looking information as a result of various factors.
Information regarding our expectations of future results,
performance, achievements, prospects or opportunities or the
markets in which we operate is forward-looking information.
Statements containing forward-looking information are not facts but
instead represent management's expectations, estimates and
projections regarding future events or circumstances. Many factors
could cause our actual results, level of activity, performance or
achievements or future events or developments to differ materially
from those expressed or implied by the forward-looking
statements.
See "Forward-Looking Information" and "Risk Factors" in the
Company's Annual Information Form for the fiscal year ended
February 3, 2018 for a discussion of
the uncertainties, risks and assumptions associated with these
statements. Readers are urged to consider the uncertainties, risks
and assumptions carefully in evaluating the forward-looking
information and are cautioned not to place undue reliance on such
information. We have no intention and undertake no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable securities law.
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SOURCE Roots Corporation