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.