Saturday, October 30, 2010

Profit is overrated

Are you confident enough to give away some of your best stuff?

Nordstrom is.

I love it when someone or some entity is confident enough to be generous without worrying too much about how much they’re giving away. Creative partners, global leaders, basketball teammates…when you’ve got something someone else might want and can give it away, the good always gets greater.

I’m not saying Nordstrom’s latest announcement is completely selfless or entirely for the benefit of humanity. But it sure is a step in the right direction.

They’re opening a “philanthropic concept store” in Soho, with an eye turned to their goal of someday opening a flagship store in Manhattan , home and long time roost of Bloomingdales. The twist?

The store will give away all profits to charity.

This new endeavor is brilliant in many ways, not the least of which is getting New Yorkers to feel good about the Nordstrom name and ultimately getting them comfortable with setting foot in the store. With their legendary service, once they’re in the door, they’ll come back.

It also enables people to feel good about their purchases and charities to get lots and lots of unexpected donations.

If it’s true that confidence looks like generosity, then you better start spreadin’ the news, because Nordstrom is gonna be a part of it. New York, New York…

1 comment:

  1. I've been a fan of Nordstrom's for years - partly because they are such an inspirational family business. Just as you write, for over 100 years they've had the confidence - even courage - to manage in ways that express their values. Not to mention they have the softest, most beautiful shawls anywhere.

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