Macy’s latest acquisition is all about STORYtelling
Macy’s, Inc. announced that it has acquired STORY, an experiential concept store in New York. STORY’s founder and CEO, Rachel Shechtman, will join Macy’s as the company’s brand experience officer focused on the retailer’s in-store experience.
STORY completely changes its store layout and merchandise every four to eight weeks, focusing on a new theme with each changeover. The concept, which was founded in 2011 by Ms. Shechtman, a former brand consultant for Kraft and TOMS shoes, emphasizes brand collaboration as it builds unique retail experiences for consumers.
“It’s exciting to have a national stage to leverage STORY’s learnings and relationships to create impact at scale,” said Ms. Shechtman. “I’m energized 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.”
“Rachel is a unique and innovative voice in retail, and we are thrilled to have the STORY team join the Macy’s family,” said Macy’s, Inc. CEO Jeff Gennette, in a statement. “Bringing Rachel’s perspective to the table will help create more enriched and engaging in-store experiences and brand activations.”
Mr. Gennette said the STORY acquisition is an “important step” in Macy’s growth plans for 2018.
“I’m highly interested in trying to bottle what I see at STORY into many stores that have thousands of people walking through them every single day and are just ready to be turned on,” he told Business of Fashion.
STORY will continue to operate its business as usual in the Chelsea section of New York City. The company’s chief operating officer, Jenny Shechtman, will become vice president, operations at STORY under Macy’s
- Macy’s Continues Focus on Enhancing Customer Experience with Acquisition of STORY – Macy’s Inc.
- Macy’s Acquires STORY – Business of Fashion
- What’s the ‘STORY’ with Jet.com’s grocery store? – RetailWire
DISCUSSION QUESTIONS: What are the most valuable lessons Macy’s can learn from STORY? Will Rachel Shechtman be able to scale something akin to the STORY experience and apply it at Macy’s?