Vineyard Vines
 | |
| Company type | Private |
|---|---|
| Founded | July 3, 1998 |
| Founder | Shep & Ian Murray (Brothers) |
| Headquarters | 181 Harbor Drive, Stamford, Connecticut , United States |
Number of locations | 100+ |
Area served | Worldwide |
| Products | Clothing and accessories |
| Owner | Shep & Ian Murray (Brothers) |
Number of employees | 2800[1] (2018) |
| Website | Vineyard Vines |
Vineyard Vines is an American clothing and accessory retailer founded in 1998 in Martha’s Vineyard, Massachusetts, by brothers Shep and Ian Murray. The brand markets high-end ties, hats, belts, shirts, shorts, swimwear, bags for men, women, and children. It has grown to a collection of retail stores and outlets across the United States. It is manufactured in Peru and Vietnam.[2] The company's main logo is a pink whale.
History
[edit]Shep and Ian Murray originally sold neckties on Martha's Vineyard, selling out of a backpack from their boat or Jeep rather than a storefront. Initially, they offered four different styles of ties. After they sold 800 ties on a single weekend in July, Shep and Ian quickly re-ordered more, paid off their accrued debt, and moved into a new office. The Murray brothers claim that the business was founded through a philosophy of "living the good life," which is reflected by their slogan "Every day should feel this good."[1] Vineyard Vines is still owned outright by the two Murray brothers.[3] The company's clothing has been described as preppy.[4]
Expansion
[edit]
Since the summer of 1998, the Vineyard Vines company has expanded nationally, particularly along the East Coast. Vineyard Vines has opened numerous company, outlet, and retail stores. In addition to these traditional channels, Vineyard Vines has expanded its sales to online shoppers. The company manufactures licensed NFL and MLB product, which it sells through its retail channels. Vineyard Vines also manufactures licensed college apparel, which is sold primarily through campus stores. Vineyard Vines was placed on Inc. magazine's list of the 5000 fastest-growing businesses in the U.S. in 2007. Between 2004 and 2007, the relatively new company's revenue tripled.[5]
- In 2015, the company inaugurated a new headquarters in Stamford, Connecticut.[6]
- In 2016, Vineyard Vines had 476 million dollars in sales.[1] In that same year the company was reportedly valued at one billion dollars by Goldman Sachs.[7]
- In 2019, Target Corporation offered a 300-product limited edition Vineyard Vines collection in stores and online.[8][9] The campaign drew some criticism from customers, as many items sold out within an hour.[10]
- All Vineyard Vines stores were temporarily closed in March 2020 due to the COVID-19 pandemic.[11]
- While expanding the sales, the production is mostly placed into non-U.S. locations, such as China and South America.
Stores
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The first stores were opened in Northeastern locations associated with the sea such as Martha's Vineyard. The first was in Edgartown, Martha's Vineyard, followed by Greenwich, Connecticut. The company has expanded to more than 100 stores across the U.S. states and the brand is sold by over 600 other retailers.[12][13]
References
[edit]- ^ a b c Bertoni, Steven. "How Vineyard Vines Built A Giant Brand Without Raising A Penny Of Equity". Forbes. Retrieved 2018-04-13.
- ^ Mike (21 February 2024). "Where Is Vineyard Vines Made?". All American. Retrieved 5 October 2024.
- ^ Milford, Maureen (16 August 2015). "Whale war: Vineyard Vines, Rehoboth shop clash over logo". The News Journal. Retrieved 10 December 2015.
- ^ Maidenberg, Micah (27 May 2014). "Prepster clothing chain expands in Mag Mile move". Chicago Real Estate Daily. Crain's Chicago Business. Retrieved 5 May 2015.
- ^ "Vineyard Vines". Inc. 5000. Inc. Retrieved 5 May 2015.
- ^ Bhasin, Kim (6 May 2015). "Vineyard Vines' Lavish New HQ Is the Preppiest Office in America". Bloomberg. Retrieved 24 August 2017.
- ^ Bertoni, Steven (30 April 2018). "How Vineyard Vines Built A Giant Brand Without Raising A Penny Of Equity". Forbes. Retrieved 20 January 2021.
- ^ Tyko, Kelly (May 31, 2019). "Target's Vineyard Vines: It's not impossible to find items. Here's how and where to save". USA Today. Retrieved December 1, 2020.
- ^ Van Abbema, Alex (February 28, 2019). "Target teams with preppy fashion label Vineyard Vines". Minneapolis/St. Paul Business Journal. Retrieved December 1, 2020.
- ^ Lam, Katherine (19 May 2019). "Target customers angered after some Vineyard Vines items sell out quickly". Fox Business.
- ^ Schott, Paul (March 16, 2020). "Stamford-based Vineyard Vines temporarily closes all stores due to coronavirus". Stamford Advocate. Retrieved December 1, 2020.
- ^ "What you need to know before going into business with family" (Video). Business Insider. 25 November 2015. Retrieved 10 December 2015.
- ^ Tyko, Kelly (31 May 2019). "Target's Vineyard Vines: It's not impossible to find items. Here's how and where to save". USA Today.