Evereve adds denim to its house brand, more stores on the way
Denim is in fashion.
Evereve will launch its own line of jeans this fall. After a test run this summer, the Twin Cities-based clothing chain will begin selling women’s pants and straight-leg jeans under the private label it started a year ago.
“Designing clothes is really easy for us because we know our client so well,” said Megan Tamte, co-founder and co-CEO of Evereve. “So it was a natural extension for us to add denim, because denim is really important to our brand.”
Evereve offers various contemporary brands of women’s clothing. Last summer, she launched her label Evereve and the brand now represents 20% of the merchandise she offers.
After receiving positive feedback on its initial launch, the company decided to continue to aggressively increase its own label designs. The skinny jeans that had tightly – both figuratively and literally – held the denim market together for years began to become less popular as wider leg jeans styles became more fashionable. fashion.
“There is a move towards less lean [jeans]”, Tamte said. “But there is also a movement of wearing what you feel comfortable in.”
But as comfort has become more important during the pandemic, people also want to look neat and not sweat, she said.
As consumers ventured more into the office and at social events, retailers saw pent-up demand for jeans. Jeans generated $18.4 billion in U.S. sales last year, a 36% increase from 2020 and a 9% increase from 2019, according to data from The NPD Group, a market research company.
“Jeans were among the first garments to rebound after 2020, as consumers sought a wardrobe refresh and craved the latest fashion trends to make their debut in public life,” said Susan Merrill, President. fashion apparel for NPD, in a statement.
Evereve has seen strong sales over the past two years, having rebounded from temporary closures at the start of the pandemic. Back then, apparel was a softer category for retailers, but it slowly got better.
At Evereve, sales are double this year what they were in 2019, said Mike Tamte, Megan’s husband and Evereve’s other co-founder. The company estimates it will end the calendar year with nearly $300 million in revenue, with the company up $100 million from last year.
Digital sales are up nearly 50% and in-store sales are up more than 60% from 2021, which had already been a banner year for the company.
“We’ve just had a banner year and we’re not doing it at the expense of earnings,” said Mike Tamte. “Our profits have also doubled. I think a lot of retailers are spending their time on top line growth, but we are making higher profits.”
Evereve is also building more physical stores. Last fall, the company opened a new flagship store in 50th and France’s shopping district, on the border of Minneapolis and Edina. The store has approximately 6,400 square feet of retail space, almost double what a former nearby store did.
Evereve is increasing the size of several of its stores. It has rolled out about 10 stores that are double their previous size since the Minneapolis flagship opened. There are 25 other stores in the Evereve pipeline, five of which are in new locations. The company plans to open its 100th store next year.