According to a CNBC report, Neighborhood Goods, which bills itself as a new kind of department store, has received $8.8 million in new funding and will open a location in New York.
Its approach to retail, as Neighborhood Goods characterizes it, includes providing a changing assortment of brands, products, and concepts within a community-conscious environment that brings thoughtful people together to shop, eat, and learn in vibrant physical spaces and through immersive editorial content.
Neighborhood Goods focuses primarily on men’s, women and kids apparel departments but also offers a small number of home goods, along with electronics on its website under the designation Lifestyle Goods. It also offers a limited number of home related products under the designation collections. Clicking through to collections on the website includes several product groupings including A Goods Home, where consumers can choose from electronics and wall art as well as a simplehuman 58-liter rectangular sensor can with voice and motion control, a simplehuman Foam Sensor Pump, a Made In Cookware 8-inch chef knife, and, in cookware, the $258 Neighborhood Kit including a 10-inch stainless steel fry pan, a 2-quart sauce pan with lid and an 8-quart stock pot with lid.
According to the site, Neighborhood Goods incorporated on August 3, 2017 and, in May 2018, announced that it had received $5.75 million of seed funding, from a group led by Forerunner Ventures with participation from Global Founders Capital, Revolution’s Rise of the Rest Seed Fund, Maveron, CAA, and other investors.
Neighborhood Goods opened its first location at the Legacy West retail center in Plano, TX. The store format included a restaurant concept dubbed Prim and Proper. The store officially opened in November of 2018, as the company simultaneously launched operations on the website and through the Apple App Store.