The Current, delivered daily.
During the month of May, Macy’s is welcoming 25 brand owners participating in a retail accelerator program that provides access to funding and connections to the storied department store owner's network.
The Workshop at Macy’s supports women- and diverse-owned businesses with a monthlong program focused on education in key business functions such as brand identity, financial management, assortment planning, pitching, growth capital and more.
The program also provides connections to customers and suppliers. Participants will have the opportunity to sell products at scale on a digital popup shop on macys.com. Then, following graduation, the cohort participants will be introduced to Macy’s buyers and digital marketplace teams. This will set up the opportunity to onboard as vendors.
When it comes to funding, the brands can enter a pitch competition, which offers the winner a $100,000 prize. This is offered in addition to a $5,000 grant that all businesses receive when they complete the program. Brands will also be introduced to S.P.U.R. Pathways: Shared Purpose, Unlimited Reach, the multiyear financing program that Macy’s introduced last year in partnership with Momentus Capital to provide a range of funding options for underrepresented businesses.
“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, in a statement. “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.”
Here’s a look at the brands participating in the program:
- Carlton Jones
- Goddess Rising Intimates
- Moxie Fitness Apparel
- Tony by Toni
- Bea’s Bayou Skincare
- Maple Organics
- TOA Waters
- b.c.e Custom Shoes
- Ms. Jetsetter
- Po Campo
- The Standard Shoes
- Twelve AM
- Aya & Pete
- Rochelle Porter
- Surprise Powerz
- Wax Buffalo
- Nola Tawk
Trending in Retail Channels
Labor disputes on the West Coast could cause further disruption heading into peak season.
When the first half of 2023 is complete, imports are expected to dip 22% below last year.
That’s according to new data from the Global Port Tracker, which is compiled monthly by the National Retail Federation and Hackett Associates.
The decline has been building over the entire year, as imports dipped in the winter. With the spring, volume started to rebound. In April, the major ports handled 1.78 million Twenty-Foot Equivalent Units. That was an increase of 9.6% from March. Still it was a decline of 21.3% year over year – reflecting the record cargo hauled in over the spike in consumer demand of 2021 and the inventory glut 2022.
In 2023, consumer spending is remaining resilient with in a strong job market, despite the collision of inflation and interest rates. The economy remains different from pre-pandemic days, but shipping volumes are beginning to once again resemble the time before COVID-19.
“Economists and shipping lines increasingly wonder why the decline in container import demand is so much at odds with continuous growth in consumer demand,” said Hackett Associates Founder Ben Hackett, in a statement. “Import container shipments have returned the pre-pandemic levels seen in 2019 and appear likely to stay there for a while.”
Retailers and logistics professionals alike are looking to the second half of the year for a potential upswing. Peak shipping season occurs in the summer, which is in preparation for peak shopping season over the holidays.
Yet disruption could occur on the West Coast if labor issues can’t be settled. This week, ports from Los Angeles to Seattle reported closures and slowdowns as ongoing union disputes boil over, CNBC reported. NRF called on the Biden administration to intervene.
“Cargo volume is lower than last year but retailers are entering the busiest shipping season of the year bringing in holiday merchandise. The last thing retailers and other shippers need is ongoing disruption at the ports,” aid NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “If labor and management can’t reach agreement and operate smoothly and efficiently, retailers will have no choice but to continue to take their cargo to East Coast and Gulf Coast gateways. We continue to urge the administration to step in and help the parties reach an agreement and end the disruptions so operations can return to normal. We’ve had enough unavoidable supply chain issues the past two years. This is not the time for one that can be avoided.”