VENICE BEACH, Calif. – Home textiles brand Parachute has closed more than 70% of its retail stores.
According to multiple media reports, the company has shuttered 19 of its 26 locations permanently. “Its CEO, Mehdi Oufkir, said the stores were too big and commented that the ‘overreach’ detracted from brand strength,” thestreet.com reported.
The DTC brand still has a presence in omnichannel retailing. Earlier this year, Parachute created its first mass retail collection for Target. Launched on Target’s e-comm site in late April, parts of the collection were also being carried in about 90 stores at the time. The online Parachute for Target collection encompasses multiple bedding categories as well as bath and robes.
Parchute’s core luxury line also has a partnership with Nordstrom that began in 2022.
Parachute celebrated its 10th anniversary in 2024. Founded as a purveyor of sustainably made bedding, the company eventually expanded into bath, utility bedding and mattresses. It opened its first physical retail location in 2016 in its hometown of Vencie Beach.
