'Incredible growth': Duer co-founder Gary Lenett on opening stores mid-pandemic
Many of the fashion retailers who had plans to open brick-and-mortar stores in 2020 wish they could take it all back. Not so, for Duer co-founder Gary Lenett. "We just feel very, very fortunate to be in the position we are, given where most of the world is that," Lenett said on the Glossy Podcast. The activewear brand is cash flow positive, and plans to launch new product categories and 4-8 new stores in 2021. Beyond that, Lenett said, the company wants a foothold in the Asian market. The Canadian company was founded in 2013 and launched its first product on Kickstarter, a model that Lenett argues is inherently more sustainable. "You're not creating a bunch of inventory and then trying to create demand; you're gauging demand and then building the inventory to the demand." Duer was "basically doubling" its sales "every year for the last five years," according to Lenett, and it's ending 2020 with a 30% bump compared to last. It's now selling in 52 countries. The company made inroads with men's products that are both suitable for exercise and fit the part in an office setting. While first pitching his products, Lenett said, "my barriers were these retail buyers who kept saying to me, 'No, we don't want to do light and stretchy. That's not masculine.' And I'm going, 'No, I'm wearing it! It's actually a superior product.'"