Dive Brief:
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Nordstrom is expanding its give-back brand, Treasure & Bond, from women’s apparel to other departments, including shoes, accessories, and mens.
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The company said it is also adding Boys & Girls Clubs of America to its beneficiaries. Since 2014, the brand has given some $440,000 to Girls on the Run and the brand's first nonprofit partner, Girls Inc.
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The move expands the brand’s efforts to donate a percentage of net sales (5% went to Girls on the Run last year) to groups that empower youth.
Dive Insight:
Nordstrom’s Treasure & Bond effort is an example of the department store’s nimble retail efforts. While retailers like Macy’s are just getting into discount off-shoots — Macy’s just launched its Backstage off-price stores — Nordstrom has been operating and profiting from Nordstrom Rack stores since the 1970s.
The retailer has also done well in commerce thanks to early efforts, including its acquisition of flash-sales site HauteLook, and integrating its Rack and flagship websites. And its partnerships with concessions and pop-ups have helped update its stores' atmosphere and offerings.
Treasure & Bond stumbled at first, closing its first shop, a store in SoHo in New York City, that aimed to donate profits to local groups helping children and youth. The brand moved online and launched its partnership with Girls on the Run last year. Perhaps e-commerce has been a better solution to the concept than brick-and-mortar. In any case, enough Nordstrom customers are finding the brand and are rewarding the effort with purchases.
"It's been so rewarding for us to see Treasure&Bond evolve," Mark Tritton, president of Nordstrom product group, said in a statement. "The positive feedback from our customers has enabled us to support inspiring organizations like Girls on the Run and now we're really excited to look to the future and make an even greater impact."