Home / Knowledge / News / Retail / Management consulting firm McKinsey opens retail store

Management consulting firm McKinsey opens retail store

Oct '19
Pic: Shutterstock
Pic: Shutterstock
Management consultancy firm McKinsey & Co. plans to sell women's underwear, jewellery, deodorant and other products to better advise its retail industry clients. McKinsey last week opened its first brick-and-mortar concept store, called Modern Retail Collective, at Minnesota's Mall of America, the largest shopping complex in the United States.

Among the brands whose wares McKinsey will showcase in the first phase of its pilot is ThirdLove, a women's underwear company. The pilot aims to collect data about how consumers move through stores and decide what to buy.

The partnership also will test a host of new technologies that could enhance customers' in-store experience and, in turn, drive sales and profits for retailers, according to US media reports.

More than 8,000 US stores have closed so far this year due to rising rents, increasing labour costs and shrinking foot traffic, and up to 4,000 more are expected to shut down by December, according to Coresight Research.

Consumers increasingly want to be able to see and feel products, as well as have easy access to technology. McKinsey will test innovations like smart mirrors that visually suggest sartorial combinations and allow shoppers to compare outfits. Fit-determination software allows shoppers to virtually try on clothing outside the fitting room. The McKinsey store will also accept cryptocurrency as a method of payment.

Fibre2Fashion News Desk – India

Interviews View All

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

Martina Giorgetti,

Martina Giorgetti

Italy-based Cibitex is a manufacturer of textile finishing machinery,...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Varsha Wadhwa, VW

Varsha Wadhwa

Coming from a family that ran a business of jute and linen mills since...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

October 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search