Latest news with #Diamonds&Pearls
Miami Herald
29-05-2025
- Business
- Miami Herald
After Chapter 11 bankruptcy, key retailer debuts new store concept
The past few years have been tough on the retail industry, and no sector of the market has been spared. We've seen popular mall clothing stores shutter and niche stores like Party City and fabrics giant Joann say goodbye for good. The trouble started in 2020, when stay-at-home orders forced consumers to do their shopping online. Retailers that weren't ahead of the game on the shipping front lost out to giants like Amazon and Walmart that already had those networks in place. Don't miss the move: Subscribe to TheStreet's free daily newsletter Once society reopened, inflation started to take a toll. And while it's cooled these past couple of years, consumers are still grappling with higher costs. Related: Iconic mall retailer closing more stores this month That's forced a lot of people to make changes in the way they spend money, including cutting back on retail purchases. And so not surprisingly, a number of popular brands have been forced into bankruptcy as a result of sluggish sales. Image source: Getty Images The pandemic not only hammered the retail industry, but it also did a number on the wedding industry. At a time when people were told not to get within six feet of each other, the idea of gathering dozens of guests in a room to celebrate someone's marriage wasn't exactly feasible or appealing. Related: Walmart makes surprise cuts as it looks at tariff price hikes Not surprisingly, David's Bridal lost out on a ton of business not just during the pandemic, but in the months that followed. So it wasn't surprising when the company filed for Chapter 11 in April of 2023, marking the company's second bankruptcy filing. The first took place in 2018. At the time, the goal of filing for bankruptcy was for David's Bridal to reduce its debt and reorganize. The company was able to save about 200 stores from closing and keep them operating. But it was clear at the time that the brand needed a refresh. And that's been the focus since. David's Bridal has been trying to reinvent itself since filing for bankruptcy. Part of that shift has the company building out an online marketplace that goes beyond traditional wedding dresses to include men's attire and party dresses. Now, David's Bridal is debuting a new store concept called Diamonds & Pearls in Delray Beach, Florida. If it proves successful, the company plans to open additional locations. Related: Iconic department store flagship survives, still could close Diamonds & Pearls will carry merchandise that's not available at other David's Bridal locations. The goal is to pare down inventory and instead offer a more exclusive, curated assortment of products that range from "affordable luxury to couture." "[Diamonds & Pearls] is where trend meets tradition, where high fashion meets high touch and high tech, and where we bring the full power of David's and all of our offerings into a modern, elevated setting," CEO Kelly Cook said in a statement. In addition to carefully selected inventory, Diamonds & Pearls will feature digital technology that makes it easier for customers to shop. Given the past struggles of David's Bridal, it makes sense for the company to try to position itself as a hipper, more tech-savvy version of what it's known to be. The question, though, is whether it will succeed. More Retail: Walmart CEO sounds alarm on a big problem for customersTarget makes a change that might scare Walmart, CostcoTop investor takes firm stance on troubled retail brandWalmart and Costco making major change affecting all customers At a time when consumers are spending more cautiously, many are bucking the traditional wedding trend in favor of low-key gatherings. It will be interesting to see if David's Bridal is able to stay afloat during these interesting economic times. But having filed for bankruptcy twice already, the company is no doubt eager to avoid flirting with a third go-round. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
USA Today
19-05-2025
- Business
- USA Today
David's Bridal opens new retail concept for wedding dresses called Diamonds & Pearls
David's Bridal opens new retail concept for wedding dresses called Diamonds & Pearls Show Caption Hide Caption Wedding website tips: How to share important details with guests Wedding websites can help your guests easily access information about your big day. Problem Solved David's Bridal is opening a new bridal retail concept aimed at delivering "elevated, curated and personalized" experiences for brides looking for the perfect wedding dress. The concept, announced last Thursday, shares the name of a popular Prince song: Diamonds & Pearls. It looks to provide a "space that seamlessly blends timeless elegance with contemporary allure," according to the company. "At David's, we believe every bride deserves a magical experience-and it starts the moment she walks into one of our stores," said Kelly Cook, CEO of David's Bridal, in the news release. "With Diamonds & Pearls, we're taking this promise to the next level." Where is the first Diamond & Pearls location? The first Diamonds & Pearls location is currently open to shoppers and booking appointments in Delray Beach, Florida, with a second location to open later this year, David's Bridal said in a news release. The store aims to blend the "hospitality of a high-end bridal boutique with David's recent technology" and is designed for "a new generation of brides who crave modern styling options, personalization, and a luxurious way to shop for their dream dress," according to the company. According to David's Bridal, Diamonds & Pearls stores will feature a "thoughtfully edited selection" with approximately one-third the options found in a traditional David's Bridal store, tailored to the "most trending styles and silhouettes." The store concept also aims to "revolutionize" its in-store and digital retail experience, the company said. Store openings: IKEA opening new locations in 2025 and 2026. Here's where. David's Bridal dealt with bankruptcy woes The opening of this new concept comes amid troubles in recent years for the retailer. In April 2023, David's Bridal filed for bankruptcy and laid off more than 9,200 employees. In July 2023, they were able to sell the business to asset manager Cion Investment Corp in a no-cash transaction, Reuters reported. And in 2018, the chain also filed for Chapter 11 bankruptcy protection but came out of it the next year. Contributing: Amanda Pérez Pintado; Reuters Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X @GabeHauari or email him at Gdhauari@
Yahoo
19-05-2025
- Business
- Yahoo
David's Bridal opens new 'elevated' retail concept called Diamonds & Pearls
David's Bridal is opening a new bridal retail concept aimed at delivering "elevated, curated and personalized" experiences for brides looking for the perfect wedding dress. The concept, announced last Thursday, shares the name of a popular Prince song: Diamonds & Pearls. It looks to provide a "space that seamlessly blends timeless elegance with contemporary allure," according to the company. "At David's, we believe every bride deserves a magical experience-and it starts the moment she walks into one of our stores," said Kelly Cook, CEO of David's Bridal, in the news release. "With Diamonds & Pearls, we're taking this promise to the next level." The first Diamonds & Pearls location is currently open to shoppers and booking appointments in Delray Beach, Florida, with a second location to open later this year, David's Bridal said in a news release. The store aims to blend the "hospitality of a high-end bridal boutique with David's recent technology" and is designed for "a new generation of brides who crave modern styling options, personalization, and a luxurious way to shop for their dream dress," according to the company. According to David's Bridal, Diamonds & Pearls stores will feature a "thoughtfully edited selection" with approximately one-third the options found in a traditional David's Bridal store, tailored to the "most trending styles and silhouettes." The store concept also aims to "revolutionize" its in-store and digital retail experience, the company said. Store openings: IKEA opening new locations in 2025 and 2026. Here's where. The opening of this new concept comes amid troubles in recent years for the retailer. In April 2023, David's Bridal filed for bankruptcy and laid off more than 9,200 employees. In July 2023, they were able to sell the business to asset manager Cion Investment Corp in a no-cash transaction, Reuters reported. And in 2018, the chain also filed for Chapter 11 bankruptcy protection but came out of it the next year. Contributing: Amanda Pérez Pintado; Reuters Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X @GabeHauari or email him at Gdhauari@ This article originally appeared on USA TODAY: David's Bridal's new Diamonds & Pearls offers high-end wedding dresses Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
David's Bridal expands offerings from DoorDash deliveries to couture
David's Bridal, the 75-year-old company serving budget-conscious brides and wedding parties, is courting the "affordable luxury" market. The go-to store for brides on a budget has launched a higher-end, bricks-and-mortar chain called Diamonds & Pearls that offers dresses ranging from $700 to more than $5,000. David's expansion into the luxury segment comes two years after the company filed for Chapter 11 bankruptcy in April 2023, citing inflation and pressures. The first Diamonds & Pearls store opened Thursday in Delray Beach, Florida. David's operates 193 stores across the U.S., selling gowns that range in cost from $500 to $3,000. While the company has long held a grip on the value-end of the bridal market, it was missing the luxury piece and wanted to serve customers looking for premium offerings, David's CEO Kelly Cook told CBS MoneyWatch. "We found that 90% of all brides were in David's funnel, but we didn't have products to serve the couture bride, or the budget bride. We only had products to serve the middle," Cook said. "Affordable luxury is the fastest-growing segment we have." Cook explained that brides are under pressure as tariffs weigh on the cost of weddings, which stands at $37,500 on average, she said. An estimate from Fidelity pegs the average cost of a wedding in 2024 at $33,000. David's solved the budget consumer's end of the equation first. In March, it began selling wedding dresses for as little as $99, under the DB Studio label. And in December 2024, David's partnered with delivery service DoorDash to let customers order dresses on the app and have them delivered in minutes — along with dessert. Roughly 17% of David's brides are shopping for dresses for weddings that are within three weeks, "So we have to serve the last-minute brides," Cook said. Now, it's moving up the luxury scale, offering made-to-order dresses, including gowns from designers like Marchesa and Viola Chan, and serving champagne to brides-to-be at its Diamonds & Pearls store. The company has plans to open at least one more Diamonds & Pearls store this year, Cook said. Cook's ultimate goal for the company is to serve every type of consumer — including grooms — along every step of the wedding planning process. That includes launching its own AI-powered wedding planning tools, video content and more. The company is now in a growth spurt, undeterred by President Trump's evolving tariff program that is dissuading some companies from investing in growth. Mr. Trump had imposed tariffs of as high as 145% on Chinese imports, which now stand at 30% for a period of 90 days. Although it previously produced 67% of its own line of dresses in China, David's plans to move all of its production out of China by the end of June, according to Cook, adding that its factories in Myanmar, India and Vietnam will pick up the slack. Despite the range in prices, DB Studio, dresses on DoorDash and Diamonds & Pearls all share a common denominator, which is "absolute quality," according to Cook. Sneak peek: Fatal First Date Texas mom accused of buying ammunition for son who officials say planned school attack Trump teases "good news" on Russia-Ukraine war Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
15-05-2025
- Business
- Business Insider
David's Bridal is opening a new, higher-end boutique to appeal to Gen Z brides
David's Bridal is launching curated boutiques for Gen Z brides seeking affordable luxury. The first Diamonds & Pearls location opens Thursday in Delray Beach, Florida. The store is more intimate and elevated compared to a typical David's Bridal, the CEO told BI. David's Bridal, the largest bridal retailer in the US, is opening a new higher-end boutique catered to Gen Z brides looking for a more luxurious, personalized, and curated experience. The first Diamonds & Pearls store is set to open on Thursday in Delray Beach, Florida, with another location planned to open later this year. The store is smaller, more curated, and more upscale than the average David's Bridal store, which are typically sprawling, budget-friendly stores. "It's definitely affordable luxury," Kelly Cook, the CEO of David's Bridal, told Business Insider of the new boutique. "The environment itself is much more refined and elevated. We have champagne, we have hors d'oeuvres, we've got free bags that come with your gowns." Cook, who took over as CEO in April, said the mission of David's Bridal is to become "the largest AI, retail, media, and planning marketplace for brides." As part of that mission, the company, which in 2023 filed for chapter 11 bankruptcy for the second time, is focused on serving all brides, including higher-end ones. That's where Diamonds & Pearls come in. The gown selection is more curated, with about one-third the number of products as a traditional David's Bridal store. The selling space is also smaller at about 2,000 square feet instead of the 5,500 square feet you'd find at a larger David's Bridal. It's also the only David's Bridal location where brides can try on couture options from brands like Marchesa and Viola Chan. Though the dresses lean more upscale, Cook said there would still be more affordable options, ranging from $500 to $5,000. According to the wedding website The Knot, the average cost of a wedding dress in 2025 is around $2,000. The Knot also found that the average cost of a wedding was $33,000. Overall, the vibe of the store is more similar to an independent bridal boutique than a typical David's Bridal, according to Cook. There's velvet furniture, marble accents, and curtains separating the dressing areas and the back of house. The store wants to cater to Gen Z's love of luxury as the generation continues to make up a greater share of America's brides, with its oldest members now 28. Gen Z consumers are expected to account for 25% to 30% of luxury market purchases by 2030, according to Bain & Company. While many independent boutiques sell made-to-order dresses that can take nine to 12 months to receive, Diamonds & Pearls can deliver dresses in a week if needed due to David's Brial's own manufacturing, Cook said. They will also have dresses that brides can take home the same day. "You're getting the intimacy of the boutique, but the global scale of David's," she said. The stores also incorporate large, interactive digital screens that brides can use to browse David's Bridal's full selection or ask for suggestions from the company's AI-powered wedding planning tool, Pearl, which can make recommendations based on Pinterest boards. Cook said that when they tested the store with brides who had previously shopped at David's Bridal, the customers said the shop felt more intimate and like they could get a more personalized experience due to its smaller size. While only two Diamonds & Pearls are planned for now, Cook said the company has identified up to 100 potential markets for future stores.
