The family that persuaded women to dole out $100 for yoga pants is now hoping to do the same with T-shirts.
The son and wife of the founder of Lululemon are in the midst of an aggressive rollout of a new concept called Kit and Ace. It's predicated on a new cashmere blend material that is both soft and machine washable and is aimed at well-heeled young adults.
The shirts, priced at $68 to $138, are for people who have a "full-contact life" and want clothes that will hold up, said JJ Wilson, one of the brand's co-founders and a self-professed T-shirt junkie.
Since launching last year, Wilson, and his stepmother, Shannon Wilson, have opened seven Kit and Ace stores. The Twin Cities is one of the first metro areas in the U.S. outside of New York and San Francisco to get one. A Kit and Ace store opens Thursday in the North Loop and will be followed by a second location at the Mall of America in the fall.
The duo are moving fast with plans to open at least another 15 other stores this summer in the U.S. and with hopes to get to 50 stores by the middle of next year, including outposts in Australia and Japan.
"We have money," JJ Wilson said in an interview when asked how the company is able to grow so fast. "We are 100 percent self-financed. But I don't think we would go into such an aggressive expansion if we didn't see such excitement in the first few months."
The Wilson family has invested about $7 million in Kit and Ace thus far.
JJ Wilson doesn't shy away from the fact that Kit and Ace has borrowed a bit from the Lululemon playbook, noting that there was a lot to learn from the $1.8 billion sportswear company that now has more than 300 stores.