In the year since Paul Grangaard launched CircleRock, an online-only line of fine men's clothing, the former Allen Edmonds CEO and turnaround specialist says he learned a lot about today's retail landscape.
The biggest lesson: People want to see and feel things, especially if you're claiming to offer luxury products at affordable prices.
Enter the CircleRock House of Style, a brick-and-mortar boutique that opened this month on 44th Street in southwest Minneapolis' Linden Hills neighborhood.
Grangaard said he and his management-investment team determined that the online-only approach made it difficult to stand out from the crowd. The Made in USA brand's focal point is high-quality, made-to-order suits for under $1,000. It also sells custom dress shirts for $125, sports coats for under $700 and belts and other accessories.
But Grangaard said CircleRock lacked "iconic" products. And instead of a website featuring 30-minute videos of well-dressed men discussing leadership principles, CircleRock needed influencers and an Instagram following.
"We're reacting to learnings quickly and aggressively," said Grangaard, a former investment banker who chose retailing over retirement at age 60.
The store occupies the red-and-white converted home on 44th Street previously inhabited by Lily and Violet, a women's boutique that closed in April.
Among those iconic offerings are an array of tailored vests suitable for the office and a knitted European-style sports coat that bridges the wardrobe line between a sweater and a jacket. Yes, a swacket.
