Macy's acquires STORY concept store
US department store Macy’s has acquired the STORY concept store in New York.
As part of the deal, STORY’s founder and chief executive, Rachel Shechtman, will join Macy’s as brand experience officer, reporting directly to Hal Lawton, president of Macy’s.
In her new role, Shechtman will look at ways to enhance the in-store customer experience for Macy’s as it looks to grow its business. Meanwhile, STORY will have the opportunity to come to life in a new format.
Jeff Gennette, chief executive and chairman of Macy’s, said: “Rachel is a unique and innovative voice in retail, and we are thrilled to have the STORY team join the Macy’s family. Bringing Rachel’s perspective to the table will help create more enriched and engaging in-store experiences and brand activations. We are committed to growth in 2018, and this is one important step along the way.”
STORY bills itself a storytelling retail model that takes the viewpoint of a magazine, changes like a gallery, and sells things like a store. Every four to eight weeks, the space reinvents itself with a new theme, store design and merchandise.
Shechtman said: “It’s exciting to have a national stage to leverage STORY’s learnings and relationships to create impact at scale. I’m energised by the opportunity to further build new customer experiences across the Macy’s portfolio, while also continuing to pursue new business models and brand partnerships.”
STORY will operate as usual and continue to rotate new themes at its 2,000 square foot Chelsea location in New York City.
In addition, STORY’s chief operating officer, Jenny Shechtman, will assume the role of vice president, operations at STORY.
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