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NEW YORK--(BUSINESS WIRE)--May 1, 2023--
This May, Macy’s welcomes 25 business owners to the 2023 class of The Workshop at Macy’s, the retail industry’s longest-running retail accelerator program dedicated to driving growth and providing opportunity to diverse and women-owned retail businesses. This spring, the 2023 class will have a new opportunity to access Macy’s holistic supplier ecosystem, critical education and funding resources, new customers through a pop-up shop on macys.com and $250,000 in business grants.
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The Workshop at Macy's Welcomes 2023 Class (Graphic: Business Wire)
Throughout the month, Workshop participants will have the opportunity to get first-hand experience selling their products at scale with a special digital pop-up shop on macys.com. Additionally, following The Workshop graduation, participants will be introduced to Macy’s buyers and digital marketplace teams for the opportunity to onboard as vendors across Macy’s retail ecosystem.
In addition to the business growth focused curriculum and programming opportunities, all participants will have an opportunity to enter a pitch competition, from which the winning brand will receive a $100,000 business grant, a partnership with Macy’s sourcing team, and other prizes. All participating businesses will receive a $5,000 business grant upon completion of the program.
As part of Macy’s social purpose platform, Mission EveryOne, The Workshop at Macy’s is integral to the brand’s ongoing commitment to empower underrepresented entrepreneurs. Throughout the month, participants will be immersed in a comprehensive business development program through building brand identity, financial management, assortment planning, perfecting the pitch, securing growth capital, and more.
“For more than a decade, The Workshop at Macy’s has represented our ongoing commitment to amplify and uplift underrepresented businesses by providing entrepreneurs with a best-in-class development program,” said Michelle Wang, Macy’s vice-president, retail diversity strategy. “Through Mission Every One, Macy’s is dedicated to reinventing and reimagining representation in retail by providing participants with the tools and resources to excel, and I’m thrilled for this year’s businesses to experience growth, continue to develop and create meaningful connections through The Workshop at Macy’s.”
Brands will also be introduced to S.P.U.R. Pathways: Shared Purpose, Unlimited Reach, a multiyear, multifaceted funding program to advance entrepreneurial growth, close wealth gaps and shatter systemic barriers faced by diverse-owned and underrepresented businesses. Launched in late 2022, S.P.U.R. Pathways offers underrepresented businesses access to critical funding, as well as a full suite of educational resources, fueling a holistic supplier ecosystem and acting as a catalyst for outsized growth. Created in partnership with Momentus Capital, the program includes a range of financing options including loans for working capital and commercial real estate, and growth equity, all designed to meet the needs of diverse-owned and underrepresented businesses at various stages of growth. Through The Workshop’s programming, brands will have an opportunity to meet capital markets professionals, learn about products and apply to the program.
Led and designed by a consortium of experts from Macy’s, Babson College, the nation’s leading business school for entrepreneurship, Google, and Meta, among others. The Workshop at Macy’s has helped to develop more than 195 diverse-owned businesses since 2011.
Meet The Workshop at Macy’s 2023 Class
As part of The Workshop at Macy’s commitment to amplifying and empowering diverse-owned businesses, a cohort of 25 entrepreneurs across five retail categories have been invited to participate in this year’s program.
Apparel
Beauty
Center Core
Home
Kids
For more information on The Workshop at Macy’s, visit TheWorkshopatMacys.com. To shop the collections from past participants, visit Macys.com/Workshop.
About The Workshop at Macy’s
The Workshop at Macy’s is an exclusive retail-vendor development program designed to give select high potential diverse, LGBTQ, veteran and women-owned businesses the tools to better succeed and sustain growth in the retail industry. The Workshop at Macy’s was launched in 2011 to foster growth in the next generation of diverse merchandise suppliers. Conducted annually, this free program is a foundational element of Macy’s commitment to supplier diversity. With more than 195 graduated vendors including Alex Woo, Urban Hydration, Verona Collection, Twelve NYC, Mateo New York, Fe Noel, Foot Nanny and Eleven60, The Workshop continues to create a viable pipeline of enterprises that will grow to become successful partners with Macy’s, Inc. and other retailers.
About Macy's
Macy’s, the largest retail brand of Macy’s, Inc. (NYSE: M), serves as the style source for generations of customers. With one of the nation’s largest e-commerce platforms powered by macys.com and mobile app, paired with a nationwide network of stores, Macy’s delivers the most convenient and seamless shopping experience, offering great values in apparel, home, beauty, accessories and more. Macy’s gives customers even more ways to shop and own their style through an off-price assortment at Macy’s Backstage and at our highly curated and smaller store format, Market by Macy’s. Each year, Macy’s provides millions with unforgettable experiences through Macy’s 4th of July Fireworks® and Macy’s Thanksgiving Day Parade® and helps our customers celebrate special moments, big and small. We’re guided by our purpose—to create a brighter future with bold representation—that empowers more voice, choice and ownership for our colleagues, customers and communities.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230428005351/en/
CONTACT: Macy’s External Communications
Christine Olver Nealon/Ryan Gannon,Communications@macys.com
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: LGBTQ+ ONLINE RETAIL ENTREPRENEUR LUXURY LIFESTYLE DEPARTMENT STORES TRAINING CONSUMER FASHION EDUCATION RETAIL WOMEN HOME GOODS
SOURCE: Macy’s
Copyright Business Wire 2023.
PUB: 05/01/2023 09:00 AM/DISC: 05/01/2023 09:01 AM
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