Freeport, Maine — – L.L. Bean, known for selling its trademark boots via catalog for more than a century, plans to make a bigger push into brick-and-mortar retail by more than tripling the number of locations over five years, officials said Wednesday.
The Maine-based company, coming off of five years of increasing revenue, will open four stores this year before accelerating growth with a goal of “at least 100” by 2020, President and CEO Chris McCormick told workers.
It’s an ambitious push for a company that currently has 26 full-price retail stores, along with a handful of outlets, from the Northeast to Colorado.
The strategy makes sense in an era where shoppers expect the convenience of making purchases in stores, on phones and on computers, said retail analyst Walter Loeb.
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