Vineyard Vines

Vineyard Vines
Private
Founded July 3, 1998 (1998-07-03)
Founder Shep & Ian Murray (Brothers)
Headquarters Stamford, Connecticut, United States
Number of locations
 70 Stores, 19 Outlets, 97 Retailers
Area served
 Worldwide
Products Clothing and accessories
Owner Shep and Ian Murray
Website Vineyard Vines

Vineyard Vines is an American clothing and accessory retailer founded in 1998 in Martha's Vineyard, Massachusetts, by brothers Shep and Ian Murray. The brand markets upper market ties, hats, belts, shirts, shorts, swimwear, bags for men, women, and children. It has grown to a collection of retail stores and outlets across the United States.The company's main logo is a pink whale. Their clothing is considered preppy and southern styled.[1]

History

Shep and Ian Murray grew up in Greenwich, Connecticut and spent their summers on Martha's Vineyard, where they were introduced to the coastal lifestyle of sailing, fishing, and boating. The two brothers originally held jobs in New York City, but soon grew tired of the corporate lifestyle.[2] Ian claims the duo "traded in [their] business suits for bathing suits" and “started making neckties so [they] didn’t have to wear them.” Before quitting their jobs, the two brothers opened credit cards so they could buy silk and launch Vineyard Vines. The company's entire startup capital was raised from the brothers' accrued credit card debt. Shep and Ian sold their neckties on Martha's Vineyard, selling out of a backpack from their boat or Jeep rather than a storefront. Initially, they offered four different styles of ties. After they sold 800 ties on a single weekend in July, Shep and Ian quickly re-ordered more, paid off their accrued debt, and moved into a new office. The Murray brothers claim that the business was founded through a philosophy of "living the good life," which is reflected by their slogan "Every day should feel this good." Shep Murray claims his goal is to be "a cross between Warren Buffett and Jimmy Buffett" in building the "lifestyle brand" he founded.[3] Vineyard Vines is still owned outright by the two Murray brothers.[4]

Expansion

Since the summer of 1998, the Vineyard Vines company has expanded nationally, particularly along the East Coast. Vineyard Vines has opened numerous company, outlet, and retail stores. In addition to these traditional channels, Vineyard Vines has expanded its sales to online shoppers. The company manufactures licensed NFL and MLB product, which it sells through its retail channels. Vineyard Vines also manufactures licensed college apparel, which is sold primarily through campus stores. Vineyard Vines was placed on Inc. magazine's list of the 5000 fastest-growing businesses in the U.S. in 2007. Between 2004 and 2007, the relatively new company's revenue tripled.[5] In 2015 the company inaugurated a new headquarters in Stamford, Connecticut.[6] In January 2018, sportscaster Jim Nantz announced a partnership with Vineyard Vines to create a golf-oriented lifestyle clothing line set to launch in spring 2019.[7]

Stores

A Vineyard Vines store in Fashion Island, in Newport Beach, California

The first stores were opened in Northeastern locations associated with the sea such as Martha's Vineyard. The first was in Edgartown, Martha's Vineyard, followed by Greenwich, Connecticut. The company has expanded to more than 59 stores as well as 15 outlet locations across the U.S. states.[8]

References

  1. ↑ Template:Cite They have both store fronts and online shopping. news
  2. ↑ English, Micaela (18 August 2015). "How To Vineyard Like Shep and Ian Murray of Vineyard Vines". Town & Country Magazine.
  3. ↑ Bertoni, Steven. "How Vineyard Vines Built A Giant Brand Without Raising A Penny Of Equity". Forbes. Retrieved 2018-04-13.
  4. ↑ Milford, Maureen (16 August 2015). "Whale war: Vineyard Vines, Rehoboth shop clash over logo". The News Journal. Retrieved 10 December 2015.
  5. ↑ "Vineyard Vines". Inc. 5000. Inc. Retrieved 5 May 2015.
  6. ↑ Bhasin, Kim (6 May 2015). "Vineyard Vines' Lavish New HQ Is the Preppiest Office in America". Bloomberg. Retrieved 24 August 2017.
  7. ↑ Hennessey, Stephen. "Yes, Jim Nantz will have his own Vineyard Vines golf apparel line", Golf Digest.com, 24 January 2018 (retrieved 8 February 2018).
  8. ↑ "What you need to know before going into business with family" (Video). Business Insider. 25 November 2015. Retrieved 10 December 2015.
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