Eton may be based in Sweden but it opted for New York City to debut its new store concept.
On Friday, the men’s shirt and accessories brand will open a flagship at 330 Madison Avenue at 43rd Street. This is the second Eton store in the city; it joins an existing unit at 833 Madison Avenue, between 69th and 70th Streets.
“The U.S. is our largest market with 40 percent of our yearly turnover,” said David Thörewik, chief executive officer of Eton. “And New York has always been an important city for us.”
That’s the reason he is keeping both stores in the market. He described the uptown unit as “a lovely store that serves the neighborhood well, but we felt we wanted something in Midtown too to meet our customers between Bryant Park and Grand Central station.”
You May Also Like
The new 2,300-square-foot flagship is in a corner location with a double-height facade that was especially appealing to Eton, Thörewik said. “If it’s not our biggest store, it’s close,” he added. “This enables us to show a big part of the offer we carry.”
In addition to Eton’s hero product, its dress shirts, the mix will include some “special product,” Thörewik said, including knitwear,which is being introduced as a new category this fall. The store will also offer casual shirts, vests and overshirts.
The store will also feature a dedicated made-to-measure bar featuring an experiential version of the company’s Custom Made program where customers can work with Eton stylists to select fabrics, colors, buttons, collar shapes, pockets and monogramming.
“Since 1928 Eton has been unwavering in its commitment to providing the best-in-class men’s shirts and accessories,” Thörewik said. “Today, more than ever, the next generation is embracing their wardrobes as a form of self-expression and we look forward to meeting them where they are with an expanded offering, including casualwear and an unparalleled bespoke experience.”
In terms of the design, Eton worked with the U.K.-based architecture firm Quadrant Designs, which drew from Eton’s Nordic roots using sustainably sourced and produced custom fixtures intended to evoke the feeling of being in a living room. There is bespoke millwork erected from the ceiling and lighting intended to emulate a natural skylight. Underneath is a lounge area with a custom-made 1920s-inspired rug and seating. Hanging brass fixtures highlight the key shirt styles with the full collection merchandised on the perimeter of the store.
“Our new, New York City flagship is a celebration of innovation and evolution that provides an experience as refined as our garments,” Thörewik said. “Every detail was scrutinized as we look to the future, from the location to the materials used to not only welcome gentlemen who have trusted us for decades, but generations to come.”
He added that it “presents the collection in a very appealing and spacious way. Our intention was to invite our customers to our home.”
The design of the store will be rolled out globally to other Eton’s flagships around the world. The company operates six freestanding stores: the two in New York as well as London, Stockholm, Malmö and Gothenburg. There are also six outlets including two in the U.S. at Woodbury Common in New York and Desert Hills in California.
Thörewik said the goal is to open three to four stores a year in major metropolitan areas in Europe and the U.S., including London and Germany. A second store sporting the new design will open in Stockholm this fall.
“It’s a really beautiful store that provides the perfect backdrop for our product and embodies the DNA of Eton,” he said. “It’s a minimalistic, mid-Century Modern design with a nod to the Art Deco period when we were founded.”
Turning to business, Thörewik said the company, which has been owned by the Swedish private equity firm EQT AB since 2016, experienced a downturn during the pandemic like many other businesses, but has since had “a strong rebound. We had a good year in 2022 and grew again in 2023.” Eton’s sales volume in 2023 was 1.12 billion Swiss francs, or $109.9 million.
Last year, Eton sold 1.2 million units overall, he said. Some 65 percent of sales come from the wholesale channel, with the remainder of the business coming from direct-to-consumer. After the U.S., Eton’s strongest markets include the Nordic countries, the U.K. and continental Europe.
But the character of the business has changed as more men are working from home or embracing a more casual style of wardrobe. “There are different dress codes for how people dress for work,” he said. “We don’t see it as a negative though. What we’re seeing is a more formal look mixed with business casual or smart casual.”
That’s the reason Eton has created more casual woven shirts along with vests and overshirts, and is expanding into knitwear. “We started as a dress shirtmaker, but now we have much more,” he said.
