By: Erin Uchaz & Mikaela O’Halloran Thisisstory.com By: Erin Uchaz & Mikaela O’Halloran

About Story Located in the Chelsea neighborhood of New York City Boutique that changes its store concept every four to eight weeks Each concept tells a different “story” “explore themes that are universal in concept but niche in execution” Goal is to be ever changing like our mobile life is – even within a story products can change weekly Entire store undergoes a theme-driven renovation - from merchandise and store design to floor plan and fixtures Discovers small brands and designers at “pitch night” Shuts down the entire 2,000 square foot store for a week as it changes stories

http://www.inc.com/nicole-carter/a-brick- and-mortar-start-up-store-rachel- shechtman.html

Founder of Story 36-year old Rachel Shechtman consulted for brands like Kraft, TOMS shoes and Lincoln One of Fast Company's “100 Most Creative People in Business 2012” Fortune’s 2013 40 under 40 Believes “the future of retail will be less about consumption and more about community” and “collaboration is the new competition”

How It Profits Advertisements and sponsorships are crucial for the store’s profit and sustainability can cost anywhere from $50,000 to $175,000 Perfect place for conversations between consumers and brands Appeals to all age groups and all levels of spending as long as they relate to the story “People always say, "who’s your market?" And I always say I only have two rules. Every story needs to appeal to someone between the ages of 5 and 80, and there has to be something for sale that’s $5, and it can go as high as $5,000.” In store events like classes, book signings, music and talk events Hopes to expand with at least 5 stores in the next 3 years (as of 2013) Profitable within the first year – have sponsorships come back Love story was sponsored by dating site Nerve.com Color story sponsored by Benjamin Moore Home Depot hasn’t sponsored a specific story but sponsors parts of each one Cooking, yoga, mixology classes, lemonade stands and new coffee kiosks

Past Stories Launched in Beta as a “Start-Up Store,” spotlighting emerging digital retail concepts Home for the Holidays Story – turned the weekend between black Friday and cyber Monday into a block party and doubled sales from the previous year “an editorial gift guide that comes to life in someone’s home” - The living room is Something for Everyone, the playroom is for the Kids and so on New York Story – custom Milk Made ice cream flavors sold by the pint or cup for the first time and exclusively at Story, skill- share classes with New York Mouth Home for the holiday - Sponsored by american express in 2010, celebrated ‘small business Saturday’ Ice cream used to be online subscription only

STRENGTHS WEAKNESSES Not well known Limited Advertising Turnover time New spin on Brick-and Mortar Different Concept Every 2 months there is a new reason to come back Appeals to the ‘fickle customer’ Target men, women, and children between the ages of 6- 90 Interactive  not just shopping Events, activities, food and drink “Interaction in a retail space often leads to interaction with wallets and purses” Not well known Limited Advertising Turnover time People may assume that it is an expensive store because they have expensive products Only in New York No online store

OPPORTUNITIES THREATS Expanding to different locations LA? London? Tokyo? Marketing and Advertising Grow its social media presence Smaller Businesses Copycats Stores with the same products but cheaper

References http://www.huffingtonpost.com/2012/11/09/concept-shop-story_n_2103800.html http://money.cnn.com/gallery/magazines/fortune/2013/09/19/40-under- 40.fortune/36.html?iid=40Under13_fl_list http://www.thenextwomen.com/2013/04/24/inside-scoop-story-revolutionary-nyc- retail-concept http://nypost.com/2013/12/03/small-businesses-see-increase-in-holiday-sales/ http://www.elle.com/fashion/spotlight/holiday-picks-from-story-chelsea#slide-1 http://www.coolhunting.com/design/story-new-york.php http://www.bloomberg.com/video/story-shopping-in-a-living-magazine- BvaSP9b8QuWlVt_BZd5tng.html http://www.inc.com/john-brandon/this-start-up-is-shape-shifting-the-retail-store.html http://www.inc.com/nicole-carter/a-brick-and-mortar-start-up-store-rachel- shechtman.html