PIRCH (company)

PIRCH is a San Diego based company founded in 2009, that specializes in fixtures and appliances for the kitchen, bath and outdoors. The company has received several prizes and honors as a retailer and for the design of their showrooms, where customers can find what they are going to buy properly installed and working. ^[1] It is currently listed as number 25 on the 2015 Forbes list of America’s Most Promising Companies.^[2] The company changed its name from Fixtures Living to PIRCH in August 2013.

History

This San Diego-based venture was established in 2009 by James Stuart, a retired commercial real estate developer, after he experienced a string of disappointing retail encounters in the appliance and plumbing sectors while building his home. After conducting a study of the competitive landscape, Stuart determined that there was "a void in the marketplace, left by industries that had remained virtually unchanged for decades." Convinced that consumers wanted a more interactive shopping experience — as well as one that was more aesthetically pleasing - Stuart recruited former business colleague James P. Manning, a likeminded entrepreneur who had previously founded Interstate Plumbing & Air Conditioning in Las Vegas, NV. Together, the co-founders conceived of a store that would inspire consumers to "dream about, play with and choose products for better living." As a result, the company's first showroom, based in San Diego, CA, featured working indoor- and outdoor-kitchens, live showers and baths, and functioning washers/dryers, bucking the tradition of experiences that left consumers "with no real physical connection" to the products they viewed.^[3]

The following year, a second location, based on the same concept, was opened in Rancho Mirage, CA.^[4] With ambitions to grow the venture nationwide, Stuart and Manning decided to expand the company's ownership base. Jeffery R. Sears, a veteran business leader recognized for his ability to grow high-profile companies, was brought on as partner and CEO. In addition, Kevin Burke, of Las Vegas-based Burke Construction Group was brought on as a fourth owner/partner. Once the management team had been solidified, the company embarked upon its expansion plans, targeting Costa Mesa, CA as its third location. Simultaneously, FITCH, a London-based retail design firm, was given the assignment to "completely re-invent the shopping experience in the [appliance and plumbing] category". On September 10, 2011, the Costa Mesa showroom opened.^[5]

Honors & Awards

• Winner, “Best New Prototype or Reinvention of a Prototype” by Retail Traffic Magazine (2012) ^[6]

• Winner, Grand Prize, “Sustainability,” from the Association for Retail Environments (2012) ^[7]

• Winner, Individual Element, “In-Store Communications” from the Association for Retail Environments (2012)

• Winner, Outstanding Merit, “Design,” from the Association for Retail Environments (2012) Association for Retail Environments, Design Awards 2012. "2012 Design Award Winners"^[8]

• Winner “Retail Store of the Year” (Hard-Lines 15k-25k sf category) from Chain Store Age (2012) Chain Store Age. "Retail Store of the Year: And the winners are…". ^[9]

• Winner, International Award of Merit, “Best Retail Concept” (Hard-Lines category) by the Retail Design

Institute (2012) FITCH, RDI. ^[10]

• Winner, “Best in Show Worldwide: In-Store Signage and Graphics” (2012) by the Retail Design Institute (2012) Burke Construction. ^[11]

• LEED Silver Certification from USGBC (2012) Nick, Gilbert. "Fixtures Living’s Costa Mesa Store Receives LEED SILVER Green Building Certification" ^[12]

• CEO Jeffery Sears named to "100 Most Intriguing Entrepreneurs of 2014" by Goldman Sachs^[13]

• Winner, “Store Design of the Year” (Large Format) by Retail Week Magazine (2012) Interior Awards, Retail (Sept. 27, 2013). ^[14]

• Winner, KBIS Innovative Showroom Award (2015) ^[15]

• National Retail Federation recognized CEO Jeffery Sears as a "Retail Disrupter" on NRF's 2015 List of People Shaping Retail's Future ^[16]

In addition, Forbes Magazine named PIRCH #25 on their list of America's Most Promising Companies (2015). Previously, Fixtures Living was recognized as #78 on the same list (2013). Forbes. ^[17]

Strategic Partnership

On February 26, 2013, Catterton Partners (a private equity firm based in Greenwich, CT), known for its funding of companies such as Build-A-Bear, Pop-Chips, Baccarat, Outback Steakhouse and Restoration Hardware, announced its investment in PIRCH as a minority shareholder. The transaction is expected to accelerate the growth of the retail concept, as it begins its aggressive expansion across the country.

Growth

Currently, PIRCH has four Southern-California locations in San Diego, Rancho Mirage, Costa Mesa and Glendale Galleria serving the greater Los Angeles market. The first store outside California was opened in Oak Brook, IL in February 2014, and another at NorthPark Center in Dallas in August 2014.^[18] In December 2014, a seventh store opened at Lenox Marketplace in Atlanta, GA, as part of the company's plan to expand their luxury retail stores nationwide.^[19]

Starting in 2014, the company announced plans to open four locations per year for the next several years. Upcoming openings for PIRCH retail stores include a location at Garden State Plaza in Paramus, NJ and a three-story location in SoHo, New York City, slated to open in 2016.^[20][21]

References