The Amsterdam based streetwear brand, Daily Paper, is set to close its New York flagship in Manhattan’s Lower East Side in a bid to reduce operating costs & future profitability.
Founded back in 2012 by 3 childhood friends from Amsterdam who all shared a passion for music, art, fashion & culture, Daily Paper is a contemporary streetwear brand that fuses African heritage with the very latest trends. Offering both menswear & womenswear the Amsterdam based streetwear brand is currently stocked in the likes of Flannels, END. & Selfridges and has previously collaborated with the likes of OFF-WHITE, adidas, PUMA & New Era to name a few. With the continued retail headwinds & cost of living crisis brands like Daily Paper are certainly no different when it comes to the current global struggles the industry is facing whether its wholesale or DTC (direct to consumer). In a bid to ensure future profitability we can unveil that Daily Paper will be closing down their New York flagship store. Their London & Amsterdam stores will however remain open.
Their latest accounts for 2023-2024 showed a slight drop in overall revenue to €14 million, however their was a slight increase in overall profit. In order to maintain profitability, as well as the current uncertainty of the industry as a whole, Daily Paper have decided to close their New York store which is located in Manhattan’s Lower East Side. The store opened back in 2021 and features African inspired artwork to the exterior with two floors of the Amsterdam brand’s latest wares as well as cafe & lounge in collaboration with 4plus design. As well as a recent staff re-structure Daily Paper has also re-allocated all of its online sales to its European distribution center in a bid to reduce more overheads. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
