Nordstrom is serious about driving its sales. It's also serious about giving back. Earlier this week, the upscale retailer announced the launch of its Treasure&Bond private label brand, which will offer women's wardrobe staples such as washed denim and soft plaid shirts with an "updated, lived-in and vintage feel, at a great price." Five percent of net profits from Treasure&Bond will go to nonprofit groups that promote the empowerment of girls and women.
Girls Inc. is the first group that will benefit from Nordstrom's program. According to the organization's website, its mission is to inspire "all girls to be strong, smart, and bold, providing more than 138,000 girls across the U.S. and Canada with life-changing experiences and real solutions to the unique issues girls face."
"When we created Treasure&Bond and decided it would be a brand that gives back, we wanted to support organizations that would really mean something to the young women who will be the majority of our Treasure&Bond customers," said Mark Tritton, president of Nordstrom Product Group, in a statement. "Partnering with nonprofits that empower girls and young women just seemed like such a natural fit and we're so glad to launch this line with a fantastic organization like Girls Inc."
Girls Inc., which was started during the Industrial Revolution to help young women who moved from farming communities to work in factories and textile mills, is focused on providing girls with the tools they need to succeed in life. According to the group's site, "girls learn to set and achieve goals, boldly confront challenges, resist peer pressure, see college as attainable, and explore nontraditional fields such as STEM (science, technology, engineering and mathematics)."
Treasure&Bond will be available in standalone departments in 86 Nordstrom stores as well as on nordstrom.com. Nordstrom first introduced the Treasure&Bond name in New York's SoHo neighborhood in 2011. Then, it was an 11,000 square-foot store operated as a test nonprofit concept with all proceeds going to charity.
"Providing our customers the latest trends in fashion and giving back to the communities that support us are both long-standing commitments for us at Nordstrom," said Mr. Tritton. "Treasure&Bond is the perfect way for us to bring the two together for our customers — we're giving them an opportunity to look great while also helping support organizations that are really making a difference in our communities."
How important will the give-back aspect of Treasure&Bond be to the private brand's sales?