Nordstrom, Express announce NYC-area stores

New York City -- Nordstrom announced Monday that its new Treasure&Bond concept will open in SoHo on Friday, according to a report by the New York Times. The boutique-style store, which represents a new market entry for Nordstrom, will be a fraction of the size of a typical Nordstrom department store and all profits will be donated to charity. Merchandise is funkier, but is not discount like its Nordstrom Rack sister. 

Retail analysts applaud the move as a sensible way to test the Manhattan waters for the Seattle-based department store retailer.
 
According to Peter E. Nordstrom, executive VP and president of merchandising, the company remains committed to opening a 250,000+-sq.-ft. Nordstrom department store in New York City.

Express is making similar headlines with the announcement that it would open a new flagship store in Brooklyn -- a 10,000-sq.-ft. space on the Fulton Street Mall that is also home to Aeropostale and Filene’s Basement.

The ground-level space is unusual, in that it resides underneath a Long Island University dorm. The new store is slated to open spring 2012.
 

Nordstrom's Treaure&Bond

An interesting way for a well-known retailer to "test the waters". Others have created more premium or youthful offshoots of their brands before - Neiman Marcus has Cusp, Barney's has Barney's Coop and even Gap has Old Navy - not premium, but the other direction - more moderate, affordable. From a brand perspective, is Nordstrom really testing the waters? Or is it building a new brand?

For a premier retailer with a broad product offering from couture and designer brands sold in some locations to more conservative and private label brands merchandised in others, I am not sure Treasure&Bond will give them much good data on whether a true Nordstrom store will be a good fit for Manhattan. However, if Treasure&Bond has the right product mix and the right New York hipness and vibe combined with Nordstrom's outstanding customer service, it could be the perfect fit for Manhattan and many other markets.

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