The British luxury skiwear and lifestyle brand Perfect Moment, which completed an initial public offering in February, is taking steps to expand its US business, which currently represents approximately 38 percent of its revenues.
In July, Perfect Moment struck a partnership with Quiet Platforms, a wholly owned subsidiary of American Eagle Outfitters, to establish distribution and order fulfillment centers in the US. Subsequently, the group secured its first pop-up location in the SoHo neighborhood of New York City, which will open in October and feature the brand’s AW24 collection. There are plans in development to establish additional pop-up locations in the market and eventually open year-round stores. Today, Perfect Moment products are available globally, online, and through key retailers such as Net-a-Porter, Harrods, Saks, Bergdorf Goodman and Neiman Marcus.
“As our product range expands over time and includes more year-round apparel and accessories, we see the potential to further grow our community and elevate our brand by opening our own physical store locations, both permanent and pop-up,” said CEO Mark Buckley. “These stores would be strategically located in major cities and ski resorts and high-traffic city locations, providing a luxury in-store experience that reflects the premium character of our brand.”
In its seasonally smallest quarter, Perfect Moment posted a 1 percent decline in year-over-year revenues to $974,000 from $988,000 as wholesale revenues increased by 67 percent to $52,000 and e-commerce revenues fell by 3.7 percent to $922,000. Discounted returns combined with FY24 products returned during the period caused nearly flat revenues during the period. Gross margin tumbled to 36.6 percent from 48.8 percent in the year-ago period due to high returns. The net loss for Q1/25 was $3.4 million against a net loss of $2.7 million in the year-ago period. The company forecasts improved gross margin within its e-commerce business in H2 due to projected lower duty costs.
