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The department store chain on Wednesday said it purchased Story, a small “experiential retail” shop in New York that offers yoga classes, cooking workshops and a lineup of quirky merchandise that changes every few weeks. That keeps shoppers coming back, said the start-up’s founder, Rachel Shechtman.
In other words, it is the opposite of Macy’s sprawling suburban stores, which are piled high with a predictable selection of run-of-the-mill clothing and housewares.
The companies did not disclose the sale price or other terms of the deal. Shechtman, who founded Story in 2011, will join Macy’s as its brand experience officer.
“We are committed to growth in 2018, and this is one important step along the way,” Jeff Gennette, chief executive officer and chairman of Macy’s, said in a statement.
Macy’s is the latest to try to redefine the purpose of the department store as malls lose traffic and shoppers order more online. Rival department store chain Nordstrom last year opened a similar concept store, called Nordstrom Local, in Los Angeles, which offers manicures, alterations and personal styling — but no merchandise. The idea, executives said, was to win over customers with an experience — and perhaps a glass of wine — that cannot be replicated on the Internet.
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