1. For Immediate Release Contact: Randa McMinn
214-561-6007
randa.mcminn@cypressequities.com
CYPRESS EQUITIES’ CEO CHRIS MAGUIRE RESPONDS TO BRICK-AND-
MORTAR RETAIL BEING A THING OF THE PAST
DALLAS(February 2, 2012) – Cypress Equities, a Dallas-based retail developer with offices
throughout the country, in conjunction with retailer Peruvian Atelier is experiencing a “contrary
to ordinary” retail moment.
There is no denying that the popularity of online shopping is making a heavy impact on brick-
and-mortar retail. In a world where everything is accessible on your phone, at any time, online
retail trends continue to soar upward. With internet sales increasing almost 30 percent in the last
year, the perception is that brick-and-mortar retail concepts are struggling. However, the feeling
at Cypress Equities is that it does not spell the end for the traditional brick-and-mortar store.
Chris Maguire, CEO of Cypress Equities, explains, “Some see the future of retailing as a
progression from brick-and-mortar stores to an internet-based expansion model, but even with
the growth of ecommerce, the brick-and-mortar model seems to still be doing well. It continues
to be the primary way people purchase merchandise, and I don’t see it changing in the near
future.”
The future may be stable for brick-and-mortar retailers; however, in order to compete, brick-and-
mortar concepts will need to adapt by creating more experiential concepts.
“Brick-and-mortar retailers really need to be more than just a place to buy merchandise.
Successful retailers will need to go the extra step and give customers further value. If you can do
that, you’ve given people a reason to keep coming back to your store. That’s what willhelp you
thrive,” says Maguire.
A recent study conducted by the National Retail Federation Student Association reported that 68
percentof 310 young shoppers, ages 18-to-25, prefer brick-and-mortar versus shopping online.
With the free flow of information, most will go online to research the products or compare
pricing, but when it comes to buying, they prefer a hands-on experience.
“Brick-and-mortar retailers give you the customized experience the internet simply cannot – in
some cases, you can even trybefore you buy,” adds Maguire.
Young shoppers are not the only ones who prefer brick-and-mortar. Young fashion entrepreneurs
are transitioning from ecommerce concepts to brick-and-mortar. Nicole Castagnet and her father
opened Peruvian Atelier (www.peruvianatelier.com) in the spring of 2011.
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2. Brick-and-Mortar Retail Being a Thing of the Past/Page 2
Peruvian Atelier made the unique jump from ecommerce to brick-and-mortar. The team opened
its first store in Cypress Equities’ West 7th development in Fort Worth, Texas. According to
Castagnet, it was important to be able to see her customers touch and feel her products.
“Our goal was to use the finest Peruvian materials such as baby alpaca and pima cotton. The
materials we use are so much more appreciated in person if you are able to hold them in your
hands and try on our products,” explains Castagnet, who is also the vice president of fashion
merchandising and design. “Since we use these different materials, people don’t always know
what they’re buying online. If we can see the reactions of our clients, then we know how to make
our brand better for the future.”
With the addition of its brick-and-mortar store at West 7th in Fort Worth, Peruvian Atelier has
seen a notable spike in sales. “It’s nice to have our website. If someone lives out of town and
sees our merchandise and likes it, they have access to our product. The store however is great! It
brings in a majority of our sales and it’s always great seeing my customers happy in our new
products!” addsCastagnet.
About Cypress Equities
Founded in 1995, Cypress Equities companies* have offices in Dallas, Atlanta, San Francisco,
New York and Fort Lauderdale. Today, Cypress Equities companies are developing and/or
managing approximately 10 million square feet in projects throughout the U.S. and Caribbean,
consisting of community and power centers, as well as vertically integrated mixed-use villages
that incorporate retail, residential, hotel and offices. Visit www.cypressequities.com for more
information.
*The Cypress Equities name, logo and other marks are trademarks and service marks being licensed to independent
operating companies by CE Brands, LLC. Any particular obligation, service or product is the sole responsibility of
the specific entity that incurs such obligation or supplies such service or product.
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