Sunday, July 1, 2012

Nordstrom and the Big Apple

Almost a year ago, Nordstrom opened an unusual store in New York City's trendy SoHo district. Called Treasure & Bond, the store donates all profits to children's charities. And as if that's not unusual enough, consider that Nordstrom didn't put its brand on this first New York City store. Why?
“It allows us to be way more nimble and to learn,” explained Peter Nordstrom, EVP of the department store chain. “If we opened something like this, and had it be Nordstrom in some way, it would end up disappointing — people would show up and say, ‘What’s this?’”

Just a year earlier, Nordstrom had opened a Nordstrom Rack outlet in Union Square, bringing its stylish off-price retail store to one of New York's busy shopping districts.
Nordstrom has spent the past couple of years analyzing shopper behavior in the Rack and the Treasure & Bond stores while negotiating for a full-size store in Manhattan. Finally, it has found the right location: On 57th Street, near Seventh Avenue, a shopping hot-spot for luxe brands. The grand opening is scheduled for . . . 2018, as soon as the residential skyscraper is built and Nordstrom can decorate the main level in its own way.

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