American department store chain Macy’s, in partnership with millennial venture capital firm SoGal Ventures, has launched SoGifted – a new in-store offering at seven Macy’s locations across the US.
SoGifted is a female entrepreneur-focused destination for gifts and is powered by b8ta.
Go deeper with GlobalData
SoGifted features products from women-founded small businesses in the SoGal community.
The brands include Lovevery, Neely & Chloe and HidrateSpark 3.
The initiative follows after Macy’s reached a strategic partnership with SoGal Ventures by acquiring a minority stake in the fund.
The move is also part of the retail chain’s partnership with retail-as-a-service start-up b8ta. Last year, Macy’s bought a minority stake in the tech retailer.
SoGal Ventures co-founder Elizabeth Galbut said: “Our mission is to build a firm that embodies the cultural values that we want to see in the world.
“With the partnership at Macy’s, we’re taking this a step further and giving in-store shoppers across the country an opportunity to discover and support female-led small business brands – so the next generation of women can be empowered to know that entrepreneurship is within their reach.”
