Company executes on premium product expansion strategy and increases brick-and-mortar presence; on track to double retail footprint with 25 stores open by end of 2022
LOS ANGELES, October 05, 2022--(BUSINESS WIRE)--Parachute, the premium multi-category lifestyle brand that makes you feel at home, today unveiled its first line of furniture designed for the living room, as the Company executes on its vision to bring high-quality pieces to every room of the home.
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Parachute has announced its first living room furniture collection. (Photo: Business Wire)
The new line includes sofas, chairs, coffee and side tables, lighting and rugs – all thoughtfully designed to be timeless and versatile and to work with any style decor. Inspired by modern lines and soft curves, the new living room collection is carefully crafted by experts and curated for a more comfortable home.
"Over the past eight years we have continued to grow methodically, and invest in the products and categories that we know our customers want, which includes the living room," said Ariel Kaye, founder and CEO of Parachute. "As we expanded our retail footprint, shoppers have consistently asked to purchase the custom furniture that we created for our stores. This demand, coupled with the whitespace we see in the $70 billion living room furniture category, led us to this exciting expansion for our brand. We believe the furniture category will be a major growth driver for our business."
This expected growth goes hand-in-hand with accelerated momentum within Parachute’s trade business. Currently, interior designers account for 25% of furniture sales and spend 4x more annually with the brand than non-trade customers.
The announcement of this new collection comes as Parachute also continues to execute on its omnichannel strategy. Parachute currently operates more than 20 retail locations and has seen double digit year-over-year revenue growth in-store. The company plans to have 25 operational storefronts by the end of 2022, more than doubling its number of locations in 12 months.
"It was always my vision to create essentials for every room in the home. Launching this living room collection is the realization of our long-term vision to bring timeless, quality and comfort-inspired furniture designs to shoppers both online and in-stores," said Kaye. "The living room is a special place within the home – it’s where we gather and spend most of our time. As Parachute moves beyond the bedroom and bathroom, we are excited to bring customers the comfortable look and premium feel they’ve come to expect from Parachute into one of the most important rooms in their home. We are also taking a stance against the common use of PFAS in upholstered furniture – typically used in stain-resistant ‘performance’ fabric. We’re committed to sourcing materials that do not contain PFAS, and are focused on developing our products with the well-being of the entire family in mind."
PFAS are a common class of toxic "forever" chemicals, used by many furniture makers to develop stain-resistant performance fabrics. In fact, the EPA recently moved to designate PFAS as hazardous due to their potential to cause long-term, adverse health effects. Because of their prevalence and the harmful nature of these chemicals, and as part of the company’s ongoing commitment to responsible, conscious consumption, Parachute has opted to offer durable fabrics that do not rely on PFAS for stain resistance. Additionally, select pieces from the collection such as the sofas will be made-to-order to avoid waste created by bulk furniture production, which is another way the company is prioritizing sustainability.
The full collection is now available to shop online at parachutehome.com and in all Parachute stores across the U.S. on October 5.
Parachute is a lifestyle brand designed to make people feel at home. The multi-category home company offers products that are thoughtfully designed in Los Angeles and expertly manufactured by craftspeople around the globe, using only premium quality materials. Every essential in the collection is inspired by comfort and relaxation with sustainability top of mind. Parachute was founded in 2014, offering a carefully curated assortment of bedding. The brand has since expanded into categories throughout the home, including furniture, mattress, bath, rugs, lighting, decor and apparel. Parachute operates more than 20 retail stores nationwide. All products are available online at www.parachutehome.com.
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