Cult athleisure brand P.E Nation opens first brick-and-mortar store

While the retail industry was hit hard by the pandemic, one Aussie cult label has picked up speed post-Covid, opening its first physical store.

The P.E Nation juggernaut is picking up speed, with the cult athleisure brand this week opening its first physical store.

It’s a massive vote of confidence in the bricks and mortar retail sector, which is finally bouncing back from the blows it took during the Covid-19 lockdowns.

While many e-tailers thrived during the volatile pandemic period, fashion stores were hit hard.

However, according to industry experts and new statistics, there’s a new buzz around physical retail stores.

A tracker, developed by consultancy Accenture and credit bureau illion, shows in-store spending has recovered, especially at fashion stores where purchases are 12 per cent above the pre-Covid.

And Australian retail sales continued to strengthen in April, with trade increasing 9.9 per cent compared to the same period last year, according to the Australian Retailers Association, with apparel up 11.9 per cent.

P.E Nation co-founders Pip Edwards and Claire Tregoning at their first physical store in Sydney. Picture: Tim Hunter

Despite having 600 stockists in 95 countries and 70 staff, the six-year-old P.E Nation brand has never taken the risk of investing in a stand-alone store. Until now.

Founders Pip Edwards and Claire Tregoning have established their first stand-alone boutique at The Galeries in George St.

“We see all around us the resurgence of retail,” Edwards said.

“’Bricks and mortar stores are a way to connect again after all that time when we couldn’t, and to really feel those connections.

“It’s not just us, lots of other brands feel the same way, and you can see it in Sydney especially with the huge retail developments that are happening in the city.”

P.E Nation on the catwalk at Afterpay Australian Fashion Week 2022 Resort '23 Collections at Carriageworks. Picture: Mackenzie Sweetnam/Getty

Sydney property developer and founder of The Intersection, Paddington Theo Onisforou said fashion brands have realised they need a “showcase store”.

“The most profitable businesses will be those with one or two shops in select locations with e-commerce,” he said.

“Everyone has realised they need a retail presence because of the cost of acquiring online customers.”

In 2020, the Australian Financial Review reported P.E nation had earnt $20 million in revenue in the last fiscal year, a quadrupling of profits since it was founded, having reported $5.2 million in 2016-17.

“To be honest, our focus until now has been on our wholesale distribution,” Tregoning said.

“We’ve worked very closely with our retail partners here and all around the world, and that’s how we’ve achieved the incredible growth that we’ve had. We have an incredible global wholesale footprint now.”

“It was also a case of finding the right store in the right location. We’ve been exploring this for a while, but when we saw this amazing store on George St, we just knew this was it.’’

The duo never do things by halves and the new flagship store is proof of that.

“The space is very dynamic, there are LEDs everywhere to create a sense of movement, and the store can shapeshift, so it transforms from a retail space to a yoga studio or an art gallery,” they told Sunday Confidential.

“It’s bright, colourful, super-modern, high energy … a distillation of the essence of P.E Nation.”

Originally published as Cult athleisure brand P.E Nation opens first brick-and-mortar store