How 2 Upstart Retailers Want to Reinvent the Traditional Department Store

In The Daily Scoop by Lauren Parker, Accessories Magazine

The fall of big retailers is making space for innovative startups to rethink the future of malls and shopping.

To help fill the gap left by stalwarts like Sears, a number of startups have emerged with the goal of helping online brands go offline–and adapting the traditional store model to better suit their needs.

After founding a nonprofit that provides free retail space to entrepreneurs and artists a few years ago, Matt Alexander says he saw how meaningful a physical space can be. In 2017, through mutual connections Alexander met Mark Masinter, a founding investor at Restoration Hardware who also helped Steve Jobs conceptualize the Apple Store. What began as a 30-minute meeting to toss around ideas on how to reimagine retail space lasted for hours.

From those discussions the pair came up with the idea for Neighborhood Goods, a 14,000-square-foot space–a fraction of the size of a typical department store–designed to showcase mostly online brands on a rotating basis. The first store, which will be equipped with a restaurant and events spaces, will open at Legacy West, a 255-acre open-air retail and restaurant development in Plano, Texas, in November.

Read more at Inc.

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