The department store is opening a smaller retail shop in SoHo and donating the profits of their sales to charity.
Seattle-based chain Nordstrom is opening a store in Manhattan on Friday, but this fashion boutique will sell a different range of merchandise from the department stores and it will have a different name: Treasure & Bond.
Describing it as a part store/part giving organization,’ 100% of the profits will be donated to charities that benefit the children of New York City. Each quarter, they’ll support two different NYC-based programs through the products they sell. For the August-October 2011 quarter, those two programs are The New York Public Library Programs for Children and Young Adults and New York City’s Young Men’s Initiative.
The boutique is a way for Nordstrom to figure out the New York market before opening a large department store there, but some have warned that the different name and style won’t help with brand recognition or help them discover whether their usual merchandise would sell well in NYC.