Macy’s, Inc. Announces Plans to Launch Curated Digital Marketplace
November 18 2021 - 7:30AM
Business Wire
Digital Marketplace Platform to Further
Accelerate Polaris Strategy and Fuel Enterprise Growth
Technology Company Mirakl to Serve as a Partner
to Power the Marketplace Platform
Macy’s, Inc. (NYSE: M) today announced plans to launch a curated
digital marketplace to build on the company’s existing authority as
a digitally led omnichannel retailer. The new marketplace will
significantly expand the company’s assortment in existing
categories and brands and introduce a range of new categories, by
enabling carefully selected third-party merchants to sell their
products on macys.com and bloomingdales.com.
“Today’s announcement is an exciting next chapter in our digital
evolution. The marketplace platform will further accelerate our
Polaris strategy and unlock new opportunities for sustainable and
profitable growth. Our digital business is targeted to generate $10
billion in sales by 2023, and we expect the new marketplace
platform to produce incremental revenue on top of that target,”
said Matt Baer, chief digital and customer officer at Macy’s, Inc.
“The marketplace platform will enable us to expand our assortment
at a low incremental cost, while giving Macy’s customers easy
access to even more product selection to meet their diverse
needs.”
Macy’s, Inc. is partnering with Mirakl, the industry-leading
enterprise marketplace technology company, to power the platform.
In addition to extensive industry experience in marketplace growth,
Mirakl brings dynamic platform capabilities that will seamlessly
integrate into Macy’s and Bloomingdale’s architecture and allow for
evolving strategies over time. Mirakl’s best-in-class seller tools
will enable sellers to easily monitor, drive and grow their
businesses within Macy’s curated parameters.
“To be a retail leader in today's economy means balancing two
imperatives: staying true to the trusted brand DNA that your
customers value, while also anticipating and rising to meet their
evolving expectations. It’s a pleasure to partner with Macy's, a
retailer that both understands the potential of marketplaces to
positively transform a business and has the vision, ambitions and
strategy to fully reap the benefits," said Adrien Nussenbaum,
co-founder and co-CEO, Mirakl.
The marketplace platform is expected to launch in the second
half of 2022.
About Macy’s, Inc.
Macy’s, Inc. (NYSE: M) is one of the nation’s premier
omnichannel retailers. Headquartered in New York City, the company
comprises three retail brands: Macy’s, Bloomingdale’s and
Bluemercury. With a robust e-commerce business, rich mobile
experience and a national stores footprint, our customers can shop
the way they live — anytime and through any channel. For more
information, visit macysinc.com.
About Mirakl
Mirakl offers the industry’s first and most advanced enterprise
marketplace SaaS platform. With Mirakl, organizations across B2B
and B2C industries can launch marketplaces faster, grow bigger, and
operate with confidence as they exceed rising customer
expectations. Platforms are the new competitive advantage in
eCommerce, and the world’s most trusted brands choose Mirakl for
its comprehensive solution of technology, expertise, and the Mirakl
Connect ecosystem to unlock the power of the platform business
model for them. For more information: www.mirakl.com
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version on businesswire.com: https://www.businesswire.com/news/home/20211118005411/en/
For Macy’s, Inc.
Media - Karina Frayter media@macys.com
Investors - Mike McGuire investors@macys.com
For Mirakl
Tara Klein, Bateman Agency tklein@batemanagency.com
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