A new startup is making use of excess retail real estate, which is in abundance thanks to the closure of thousands of stores this year alone.
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To capitalize on the glut of leasable retail space, New York-based Bulletin is striking deals with landlords suffering from rising vacancies to lease space in their malls for a shared-retail space experience, Forbes reports. Similar to WeWork’s business model for office space, Bulletin leases retail space and then turns around and rents that store space to e-commerce-only brands as showrooms for up to $2K/month.
For online players, this eliminates the need to fill the store and the back stockroom with inventory. Founders Alana Branston and Ali Kriegsman raised $2.2M in venture capital to open two Bulletin locations in Manhattan and Brooklyn.
The company has plans to open two additional New York City locations before expanding into Los Angeles in 2018.
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