Macy's establishes SoGifted store to showcase women-owned businesses

Macy's Introduces SoGifted Gift Shop, Empowering Women-Led Small Businesses

Macy's has unveiled a new initiative, SoGifted, a gift shop showcasing merchandise from women-led small businesses. The venture is powered by b8ta, a startup in which Macy's is an investor.

SoGal Ventures, a venture capital fund that invests in diverse entrepreneurs, is also part of the partnership. Macy's has acquired a minority stake in SoGal Ventures as part of its commitment to diversify its product offerings.

The SoGifted gift shop will be available at seven Macy's locations across the country until January 31. Brands such as TomboyX, Ettitude, and Quirktastic will be featured in the shop, providing an opportunity for in-store shoppers to discover and support female-led small business brands.

b8ta, known for powering experiential retail, has recently transitioned into fashion and lifestyle brands in addition to electronics. The startup's involvement in SoGifted is a testament to its expanding influence in the retail industry.

The launch of SoGifted is not just a new addition to Macy's offerings, but also a step towards empowering the next generation of women to know that entrepreneurship is within their reach. The partnership aims to give a platform to underrepresented brands and encourage shoppers to support them.

Macy's will highlight the SoGifted gift shop during entrepreneurial focused events, including a launch party with the female founders at its flagship location in Herald Square. The company is also making an effort to improve its existing locations by introducing offerings like Story and The Market @ Macy's.

However, it is not clear whether Macy's will close more of its physical storefronts next year due to a decline in sales. The retail giant's president, Hal Lawton, recently announced his departure from the company to join Tractor Supply.

Despite the challenges, Macy's remains committed to supporting diverse entrepreneurs and providing unique shopping experiences for its customers. The SoGifted gift shop is a testament to this commitment and a step towards a more inclusive and diverse retail landscape.