Macy’s Acquires Minority Stake In b8ta

Macy’s has acquired a minority stake in b8ta and will use the latter’s software platform to scale The Market @ Macy’s concept launched earlier this year.

According to officials with the department store, b8ta will customize its technology platform for Macy’s that will provide brands a “seamless and more automated experience” when signing up to take part in The Market @ Macy’s.

The customized software platform will serve as the driver for managing the rotating brands and experiences, and scaling The Market @ Macy’s concept to new locations, Macy’s officials said. In addition, b8ta’s ability to attract new products in the home and consumer electronics space will provide an opportunity for Macy’s to expand its product assortment.

“Macy’s is in the experience business,” said Hal Lawton, president of Macy’s. “We’re always looking for new formats that allow our customers to discover and connect with our products and services in-store in a way that drives engagement with our brand.”

The Market @ Macy’s concept launched in February 2018 and is currently open at 10 Macy’s stores nationwide. Each shop brings customers a rotating selection of unique offerings in apparel, accessories, beauty, entertainment, experiences, decorative home, stationery, technology and gifts.

Over the next year, The Market @ Macy’s will test new size format spaces powered by b8ta’s technology and will expand the size of some of the existing pilot locations. Plans for future growth of the concept powered by b8ta are underway, company officials said.