Macy’s Spotlights Women-Owned Businesses With SoGifted
by PYMNTSMacy’s is partnering with the female-led millennial venture capital fund SoGal Ventures to launch an in-store initiative focused on women-owned businesses, Macy’s said in a press release on Thursday (Dec. 5).
The retailer is opening SoGifted shops in its flagship Manhattan store and six other locations. The pop-up shop is dedicated to selling products from a variety of women-led small businesses and will be open through January.
Macy’s has a minority stake in SoGal Ventures, which has invested in over 65 startups and reaches a network of more than 100,000 entrepreneurs in over 30 countries in the U.S., Asia Pacific and Europe. SoGal was co-founded by Pocket Sun and Elizabeth Galbut in 2016 and is headquartered in New York City. The two managing partners invest in diverse entrepreneurs at the seed and pre-A stage.
The SoGifted shops feature products and gifts from women-founded enterprises in the SoGal community. Brands include Lovevery, which sells expert-designed brain toys; Neely & Chloe, offering fashion-forward accessories; HidrateSpark 3, a smart water bottle that tracks hydration; herbal teas from Bon Temps; unbreakable hosiery by Sheertex and more.
“Our mission is to build a firm that embodies the cultural values we want to see in the world,” said Galbut. “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.”
SoGifted shops will be located in Manhattan’s Herald Square; Atlanta’s Lenox Square; Fashion Show in Las Vegas; Boston’s Northshore; North Star Mall in San Antonio; Twelve Oaks Mall in Detroit; and The Galleria in Ft. Lauderdale.
Macy’s ongoing partnership with b8ta, which helps brands set up physical retail operations, enabled SoGal to quickly open at the department store.
SoGifted will also host entrepreneurial-focused events, including a “For Women, by Women” panel discussion at Herald Square with the founders of Blume, TomboyX and Sheertex on Jan. 14 at 6:30 p.m. Beauty and trunk shows are also planned, as well as a wellness-focused event.
The SoGal partnership aligns with the goal of Macy’s to double the number of pop-up shops within its stores.