Roots to Expand North American Retail Footprint with Two New Boston Stores
TORONTO, March 21, 2018 /CNW/ - 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 Boston, Massachusetts area in June 2018.
"These two new Roots locations mark an important step in executing against our current U.S. expansion plan where we are targeting 10 to 14 new retail locations by the end of 2019," said Jim Gabel, President and Chief Executive Officer of Roots. "Our inclusive lifestyle brand, with legendary feeling apparel, leather goods, footwear and accessories, is an excellent fit for the U.S., particularly in New England, and the mid-Atlantic and Midwest regions. We are confident the authenticity associated with our effortless style and connection to the spirit of the open air will resonate with and inspire American consumers. Through the combination of our e-commerce platform, which ships to all 50 states, and our U.S. expansion plans, we will be increasingly able to provide more consumers across North America with a Roots omni-channel shopping experience."
The first of the new Roots U.S. locations will be an almost 4,000 square foot enhanced experience store that will go 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. This location will be in the upscale Natick Mall, which is home to more than 250 stores and considered a destination of choice for shopping, entertainment and dining, in the Greater Boston area. The second retail location will be an almost 5,000 square foot store at MarketStreet Lynnfield in Lynnfield, MA, which is the North Shore's largest open-air shopping destination spanning nearly 300,000 square feet and home to many flagship retail brands.
About Roots
Established in 1973, Roots is an iconic lifestyle brand with a rich Canadian 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 October 28, 2017, Roots' integrated omni-channel footprint included 116 company retail stores in Canada, 4 company retail stores in the United States, 109 partner-operated stores in Taiwan, 29 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 "About this Prospectus – Forward-Looking Information" and "Risk Factors" in the Company's final prospectus filed in connection with its initial public offering on October 18, 2017 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.
SOURCE Roots Corporation
Investor Relations, Kristen Davies, [email protected], 416-781-3574 Ext. 4116; Public Relations, Elyse Goody, [email protected], 416-781-3574 Ext. 4332
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