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Macy’s acquires STORY concept store

Published 04 May 2018

US department store chain Macy’s has purchased STORY, a concept store in New York City, for an undisclosed price.

Additionally, Rachel Shechtman, STORY’s founder and chief executive officer, will join Macy’s, Inc. as brand experience officer, founder of STORY, reporting directly to Hal Lawton, president of Macy’s.

In her role, Shechtman will focus on ways to enhance the in-store customer experience with the Macy’s brand and STORY will have the opportunity to come to life in a new format.

STORY is a cohesive storytelling retail model that takes the point of view of a magazine, changes like a gallery, and sells things like a store.

Every four to eight weeks, the space reinvents itself – from the design of the store to the merchandise – with the goal of highlighting a new theme. STORY has a heightened focus on experience, engagement and collaboration/brand partnerships.

Macy’s CEO and chairman Jeff Gennette 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.”

Shechtman added: “It’s exciting to have a national stage to leverage STORY’s learnings and relationships to create impact at scale. 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.

STORY will operate as usual, continuing to rotate new themes at its Chelsea location in New York City, while Rachel assumes her role at Macy’s, Inc.

In addition, STORY’s chief operating officer, Jenny Shechtman, will assume the role of vice president, operations at STORY under Macy’s, Inc.’s ownership.

Source: Company Press Release.