What: Leap, a company that operates physical stores for brands seeking to get into brick-and-mortar, has secured a USD 50 million financing that will be used to expand into other markets and work with additional brands.

Why it is important: Leap's operating model is that it works with digital brands seeking to open brick-and-mortar stores but lack the expertise and funding to do it alone. In 2021, the number of stores operated by Leap quadrupled to more than 50 in eight markets and the company now works with more than 30 brands.

The brands are including Naadam, Something Navy, Goodlife, ThirdLove, Lunya, Ring Concierge and Mack Weldon. The stores are located in NYC, Chicago, Los Angeles, San Francisco, Arizona, Florida, and Texas, and its reach has expanded beyond apparel and footwear to accessories, jewelry, intimates and home goods.

Leap enables brands to activate retail locations with speed and data-driven decisions, which minimizes risk, upfront costs and lease liabilities. More than 500 brands are said to have registered with Leap.

Leap was created in 2018 by entrepreneurs Tolia and Jared Golden with USD 3 million in seed money. Right before the pandemic shutdown, it secured another USD 15 million in Series A funding that it used to develop its technology, beef up its team and add brands and stores to its footprint.

Leap company expands