Neighborhood Goods, the Dallas-based retail startup founded by Matt Alexander and Mark Masinter, said in a filing with the U.S. Securities and Exchange Commission that it raised $8 million of a $10 million offering.
In May, the retailer announced that it had raised $5.75 million, bringing its total funding to $13.75 million, according to Crunchbase.
Co-founders Mark Masinter (far left) and Matt Alexander (far right) with a friend.
Neighborhood Goods recently opened a 14,000-square-foot store in Plano. It’s a department store that features direct-to-consumer as well as globally-recognized brands, via a rotating, curated pop-up concept, experiential events, live podcasts, and open forum discussions.
Think coworking, but for retail.
Each brand pays a monthly fee to receive its own space, staffing, marketing, and retail design. The store also has its own restaurant and bar, a live podcast, a calendar of events, and a communicative app.
We took you inside the store recently to give you a look at the opening festivities and virtual tour of the space.
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[Photo: Courtesy Neighborhood Goods]
Look Inside: Neighborhood Goods Imagines the Future of Retail in Plano
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R E A D N E X T
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The next-gen department store, which 'reimagined retail' last year with a grand opening in Plano's Legacy West, also announced it will open a second location this year in New York.
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As an investor in Neighborhood Goods, tennis mogul Serena Williams says she believed in the concept from the beginning. On Saturday, she stopped in Plano with Ashley Graham to celebrate the launch of Serena Great, the newest collection from her independent clothing line.
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Neighborhoods Goods is a "new type of department store" that opened this weekend in Legacy West. Check out our photo tour of its rotating brands, in-house restaurant, immersive editorial concept, and mobile app to see how the concept is fostering a new culture around the traditional shopping experience.
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“I think we in the retail industry are guilty often of not necessarily asking the question of 'Why would I deploy this technology?'" Neighborhood Goods' Matt Alexander said during the event's fireside chat.
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