What: Rachel Shechtman, the founder of Story, is leaving Macy’s.

Why it is important: The acquisition of Story in 2018 was seen as an opportunity for Macy’s to learn and potentially to shift its business model. It does not appear to have used that opportunity.

Macy’s acquired Rachel Shechtman’s Story concept in New York. The concept developed in a single store revolved around the idea of a theme or story which would change frequently, and which would serve as the theme for the experiential store offer. There has been speculation that the acquisition by Macy’s constituted a step in the direction of rethinking the traditional department store model and learning from the “story-based” retail idea.  Was the Story acquisition a mistake from the beginning or was it a missed opportunity for Macy’s? Why did Macy’s not take it further and see it as an opportunity for change?

Story founder Rachel Shechtman to leave Macy's