CEO of Yandy.com, Lingerie E-Commerce Giant, Comments on Frederick's of Hollywood Store Closings and Reported Bankruptcy Filing
PHOENIX, April 20, 2015 /PRNewswire/ -- Yandy.com, one of the country's largest online retailers of lingerie and related intimate apparel, has released a statement from Founder and CEO, Chad Horstman, on the Wall Street Journal report of a bankruptcy filing by Frederick's of Hollywood, as well as Frederick's recent announcement that all stores have been closed and sales have shifted exclusively to the company's website.
"The news of Frederick's struggles and store closures further validates the premise that Yandy was founded upon," said Horstman. "Specifically, that consumers are more comfortable shopping for lingerie and intimate apparel online and that a fundamental shift in retailing was well under way. Over the past decade, a number of traditional mall retailers have struggled to remain relevant as consumers have changed how they shop at malls and consumers found new ways to engage and identify with brands online."
Founded in Horstman's garage in 2006, not long after Frederick's emerged from its first bankruptcy filing, Yandy.com has since emerged as the country's largest online retailer of sexy lingerie behind only Victoria's Secret, with over 40,000 items stocked in its company-owned 37,000 square foot warehouse in Phoenix. While the privately-owned company has not released its annual sales statistics, it did confirm that it had long ago surpassed the $28 million of annual online revenue that Frederick's is reported to have generated in 2014. In addition to lingerie, panties, bras, swimwear, and plus-size lingerie, the company has also become known as the leading U.S. e-commerce retailer of adult Halloween costumes. "Unlike the brick-and-mortar approach that Frederick's was built on many years ago, e-commerce affords us numerous advantages over traditional retailers ranging from sophisticated consumer engagement and customization to superior speed and pricing, which form the pillars of exceptional customer service that our clientele expect and rely upon," said Horstman. "Combined with the intimate nature of a product like lingerie, it is no surprise that Yandy and the online channel generally have continued to take significant market share from brick-&-mortar retailers, a trend that has only accelerated in recent years and shows no signs of slowing down."
About Yandy.com
Yandy.com is one of the world's largest online retailers of women's lingerie, swimwear, rave wear, hosiery and sexy Halloween costumes. Founded in 2006, Yandy boasts thousands of affordably priced products that are always in stock, allowing for quick, same-day shipping. Designated as a Google Trusted Store, Yandy prioritizes unrivaled customer service and a commitment to ensuring that every customer receives a safe and secure online shopping experience. Yandy prides itself on selling items for every shape and size. At Yandy, every customer can #Be Sexy
SOURCE Yandy.com
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