This isn't your mama's Macy's. A department store brand that bears little resemblance to traditional chains is coming to a mixed-use development on South Congress Avenue.
Neighborhood Goods said September 11 that it plans to open its third outpost — a 10,000-square-foot store — in the 1000 block of South Congress at the Music Lane project. Other tenants lined up for Music Lane include fitness club Equinox, Gelateria Gemelli, and Soho House, among others.
Co-founder and CEO Matt Alexander says the South Austin location will enable the Dallas-based brand to set up shop on one of the most vibrant retail strips in one of the country’s fastest-growing markets.
“We love Austin for a broad variety of reasons,” Alexander tells CultureMap. “It’s a dynamic and thoughtful market that, in particular, tends to perform very well for our brands. And on South Congress, we see such a unique opportunity to introduce an all-new group of brands in a playful format.”
Neighborhood Goods describes itself as “a new type of department store,” featuring an array of brands in a relatively cozy space.
“More than that, Neighborhood Goods is a community, bringing thoughtful people together to shop, eat, and learn in our vibrant physical spaces, through our immersive editorial content, and more,” the company said in the opening announcement.
Neighborhood Goods’ first location opened last November at Plano’s Legacy West development. A second location is set to open later this year in New York City’s Chelsea neighborhood. Austin’s store will be the company’s third; it’s scheduled to debut in the first half of 2020. Preliminary work on the Austin store already is underway.
What sets Neighborhood Stores apart from other retailers is that its merchandise lineup rotates constantly. Its portfolio of brand partners includes women’s shoe seller Rothy’s, razor company Dollar Shave Club, electronic company Sonos, women’s fashion retailer Cynthia Rowley, and men’s clothing retailer Buck Mason.
Aside from revealing its Austin location, Neighborhood Stores announced it has collected $11 million in venture capital from Global Founders Capital, Forerunner Ventures, Serena Williams’ Serena Ventures, NextGen Venture Partners, Allen Exploration, and Austin-based Capital Factory.