In a deal that saw Macy’s acquire the New York City concept store, STORY, the troubled department store also snatched up STORY’s founder and chief executive officer, in a move that the brand hopes will enhance its customer experience.
Rachel Shechtman, the founder and chief executive officer of STORY, has been appointed as Macy’s new brand experience officer, as the retail giant takes steps to enhance the in-store customer experience for both Macy’s and newly-acquired, STORY, in what the department store claims will be “a new format”.
“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,” said Jeff Gennette, chief executive officer and chairman of Macy’s. “We are committed to growth in 2018, and this is one important step along the way.”
Macy’s acquires retail concept store, STORY.
“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 has confirmed that it will be business as usual for STORY, however, it’s unknown how Shechtman’s appointment will impact Macy’s brand positioning. As founder of STORY, she created a unique retail model that used an eclectic mix of displays and storytelling to merchandise and sell products. This model allowed the retailer to create a heightened sense of experience and engagement for consumers, as well as the brands that partnered with the STORY team.
After a tough year in sales in 2017, which resulted in thousands of job cuts and the closure of 100 stores, Macy’s has been working to re-invent itself to keep up with changing consumer preferences.
Just last year, the retailer appointed the former Vice President of eBay North America, Hal Lawton to the role of president, to help shape Macy’s modern brand and show consumers what a true omnichannel shopping experience can be.
The company hopes the acquisition of STORY and appointment of Shechtman will bring the business one step closer to making its omnichannel goals a reality.
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