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HGP – Richmond-based Menswear Maker Ledbury Opening New Store in New York City After Capital Raise
Ledbury, the Richmond-based maker of premium menswear, is planning a big expansion.
The company, which is marking its 10th year in business, has completed a $4.5 million capital raise and expects to open a new retail store — its third — in New York City in November.
More Ledbury retail shops are expected to follow in 2020 in major U.S. markets. “The nice thing about this capital raise is it will go toward growth initiatives,” said Paul Trible, who co-founded Ledbury with Paul Watson.
Known for its luxury men’s shirts, sweaters, sport coats and accessories, Ledbury does most of its sales online, but the company’s flagship store and workshop on Broad Street has a devoted customer base. In August, for instance, customers lined up outside the store for its annual warehouse sale.
Ledbury opened a second store in Washington’s Georgetown district in 2016. Its products also are available at about 100 wholesale retailers nationwide.
Online sales will remain Ledbury’s largest market, and the physical stores will complement that, Trible said. “With the new brick-and-mortar locations, we want to introduce ourselves to new customers,” he said.
In New York, Ledbury will open in a 1,600-square-foot store at 355 Bleecker St. in Greenwich Village. Although smaller than its Richmond location, which includes a workshop and offices, the New York store also will have a lounge where measurements can be done by appointment for custom-made shirts.
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