Macy’s has acquired STORY, an innovative pop-up concept store based in New York City. The retailer’s founder and CEO Rachel Shechtman will join Macy’s as Brand Experience Officer and will report directly to Macy’s President Hal Lawton.
In her new role, Shechtman will be responsible for enhancing the in-store customer experience with the Macy’s brand. STORY also will have the opportunity to come to life in a new format, according to a press release.
“It’s exciting to have a national stage to leverage STORY’s learnings and relationships to create impact at scale,” said Shechtman in a statement. “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 operates a unique storytelling retail model that takes the point of view of a magazine, and changes like a gallery. Every four to eight weeks, the space’s design and merchandise is revamped to highlight a new theme. The retailer has partnered with companies such as Intel and American Express to sponsor its themes.
By bringing STORY into its stores, Macy’s has an opportunity to enhance its in-store experience and revamp its business model to cater to a new generation of shoppers demanding unique experiences.
“Rachel is a unique and innovative voice in retail, and we are thrilled to have the STORY team join the Macy’s family,” said Jeff Gennette, CEO and Chairman of Macy’s, Inc. in a statement. “Bringing Rachel’s perspective to the table will help create more enriched and engaging in-store experiences and brand activations.”
Following the completion of the acquisition, STORY will operate as usual and will continue to rotate new themes at its Chelsea location in NYC. The retailer’s COO Jenny Shechtman will assume the role of VP of Operations at STORY under Macy’s ownership.