Macy’s stores put spotlight on women-owned businesses
Macy’s is partnering with a first-of-its-kind venture capital fund on a new in-store initiative.
The department store retailer is opening in-store shops in its New York flagship and six other locations dedicated to products from a variety of women-led small businesses. The SoGifted shops are made possible via a partnership with SoGal Ventures, the first female-led millennial venture capital fund investing in diverse U.S. entrepreneurs in the United States. Macy’s recently took a minority stake in the fund.
The SoGifted shops feature a selection of products from women-founded brands in the SoGal community, including Lovevery, toys designed by experts for a child’s developing brain, Neely & Chloe, a fashion-forward accessories range, and TomboyX, a size and gender inclusive line of underwear and pajamas
The shops will be open through January 2020.
The new initiative is also part of Macy’s ongoing partnership with b8ta, operator of the Ark Marketplace platform that allows brands that traditionally haven’t operated stores to quickly set up new physical retail operations. The b8ta-powered platform enabled SoGal’s range of entrepreneurs to set up shop at Macy’s within a matter of weeks.
“Our mission is to build a firm that embodies the cultural values that we want to see in the world,” said Elizabeth Galbut, SoGal Ventures co-founder. “With the partnership at Macy’s we’re taking this a step further and giving in-store shoppers across the country an opportunity to discover and support female-led small business brands - so the next generation of women can be empowered to know that entrepreneurship is within their reach.”
SoGifted will be featured at the following Macy’s store locations through January 31, 2020:
• Herald Square (NYC) - on the Mezzanine
• Lenox Square (Atlanta) - on the main floor
• Fashion Show (Las Vegas) - on the main floor
• Northshore (Boston) - on the main floor
• North Star (San Antonio) - on the main floor
• Twelve Oaks (Detroit) - on the main floor
• Galleria (Ft. Lauderdale) - on the main floor