Parachute founder Ariel Kaye: 'Great businesses do come from difficult moments'

Americans may have more reason than ever to appreciate the comforts of home and the value of making theirs their own. But even a company like Parachute, a luxury linens and home goods company founded in 2014, is feeling the pinch from the downturn in retail. "Our [physical] retail is about 25% of our business -- but it's a profitable part of our business," the company's founder Ariel Kaye said on the Modern Retail Podcast. "And it's really also how we connect with our customers and build relationships." The brand is accelerating some of the shopping alternatives it had already been planning before the coronavirus pandemic. "We've been excited about buy online, pickup in store, and curbside pickup for a long time, but it was always one of those things that we thought we would get to," Kaye said. "We want to make sure that we can deliver the experience that we want our customers to have no matter where they are."