Macy’s buys new concept store

Michael Nagle/Bloomberg

Michael Nagle/Bloomberg

Macy’s Inc. today announced today that it has acquired STORY, a concept store in New York City.

STORY has a storytelling retail model that takes the point of view of a magazine, changes like a gallery, and sells things like a store, the company said in a release.

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.

“Rachel Shechtma 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,” said Jeff Gennette, chief executive officer and chairman of Macy’s, Inc. “We are committed to growth in 2018, and this is one important step along the way.”

“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,” added Shechtman.

Macy’s recently announced it will build a new distribution center for its outlet stores in Ohio, creating more than 400 jobs.

The plans include opening a Backstage distribution center in Columbus, which will create more than 400 jobs. Macy’s also announced its plan to open 100 Backstage outlet stores, including one location at the Dayton Mall.

The company opened approximately 20 Backstage locations in the first quarter of fiscal 2018 as part of its previously announced plan to open 100 locations within existing Macy’s stores in fiscal 2018.

Reporter Kara Driscoll contributed to this story.

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