A growing local retailer has quadrupled its backroom.
Need Supply Co. recently took on an additional 60,000 square feet of warehouse space at 540 Eastpark Court in Sandston.
The brand’s revenue streams extend beyond its storefront at 3100 W. Cary St., and its growth in e-commerce, distribution and wholesale prompted the search for more storage space in early 2017, in addition to its 15,000-square-foot warehouse in Scott’s Addition.
Co-founder and CEO Chris Bossola said Need’s online operations have grown year-over-year in the double digits. In September 2016, it was part of a group that purchased Totokaelo, a retailer with roots in Seattle and New York City. Totokaelo’s order fulfillment, finance and office operations will be in Need’s new space.
“That alone really required additional space,” Bossola said.
CBRE Richmond’s Rob Dirom represented Need in lease negotiations for the 99,000-square-foot building in the Woodlands Center industrial park.
Founded in 1996, Need has evolved into a gateway for foreign brands looking to enter the U.S. market. The added warehouse space will assist in the growth of that arm of the business, Bossola said.
“We have another part of our business in that we distribute other brands. (The new space) allows us to add other brands that have reached out to us in the past,” he said.
“We essentially bring the brands into the U.S. and distribute to other retailers. There are several large (companies) that do it, but we offer it in Richmond at pretty competitive pricing.”
The company plans to be fully operational in Sandston by the end of August.
After finishing renovations to its Carytown storefront in November, Need got busy in 2017 with two capital raises totaling $2.8 million. Bossola did not comment on what the new money is being used for, saying only that it’s going into growing the company.
The company employs about 80 people – roughly 50 based in Richmond. It has offices in New York City and Los Angeles, and a retail store in Japan.