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Bloomberg Business reports that ModCloth has a whole host of expansion plans in the works, from launching more physical stores to developing completely separate brands to reach a larger demographic. According to the (fairly new) CEO, ModCloth will expand a whole bunch of product lines in the future as well, including bridal, intimates, athletic wear, accessories, and home goods.
The retailer's one physical store in San Francisco that it launched last month, called a "fit shop," is performing so well that there will probably be more popping up in the future. "The aspiration is that ModCloth will have a number of permanent fit shop locations nationally," Kaness told Bloomberg Business. "We just want to get it right before we start running down a path."
Kaness also hopes to expand ModCloth's customer base through new branded websites that target different demographics to keep driving up sales. Despite having to undergo a pretty large round of layoffs in 2014, the brand reportedly brought in $150 million in revenue that year, up from $100 million in 2012. "It's not hard for me to see how we can double the business from here," Kaness says. "And then doubling it again becomes a different exercise, but one that I hope and expect to be talking about."