Startup Called ‘Department Store of the Future’ Plots New Course

Neighborhood Goodsopened its first store in 2018 to lots of fanfare, with retail observers touting its assortment of internet-only brands as the “department store of the future.” In 2019, Fast Company magazine said it would save New York from the retail apocalypse.

Matt Alexander, co-founder of Neighborhood Goods, expects store visits to soon pass pre-pandemic levels.

Source: Neighborhood Goods

But two-and-a-half years after its debut, Neighborhood Goods has only opened three stores (two in Texas, where it’s based, and one in Manhattan). Co-Founder Matt Alexander, who also serves as CEO, says Covid-19 put the retailer’s expansion plans on hold. To help it get through the pandemic, the startup, which has raised $27 million from ...