Tags. The department store has acknowledged that the mid-2010s strategy of chasing high-spending, aspirational customers had not worked, and has been re-focusing on attracting "traditional" Gen X consumers who love fashion but also demand value. Secondly, the department store is going to focus more heavily on its 'Only at Myer' branded category. Myer clears out private labels as part of brand cull. Myer considering a purchase of high-fashion label Lisa Ho. But if you walk into a Mecca or Scotch & Soda store youre feted and given attention, and dont feel like youre a hindrance.. Our latest articles and strategies for the post-work life you want. Advanced Search. Brands. Please try again. The battle between David Jones and Myer for exclusive brands shows no signs of easing even as the department store chains chase consumers at different ends of the market . document.getElementById( "ak_js_17" ).setAttribute( "value", ( new Date() ).getTime() ); Fill out the form below and click the 'Download Now' button to read the full report on THE AUSTRALIAN HEALTHY FOODS REPORT 2023. "We see good growth for those brands in this market. Myer is in a position to "grow our Myer Exclusive brands", which was at 50 at 2011 reporting time complementing the other 2,400 brands for a "whole of home" solution. There are reports the business could be bought in a multi billions dollar deal after it first landed on Aussies shores back in 1977. Nikhil Gangaram, Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. Retail outlets in Australia; Bendigo, Victoria; Victoria; Australia; 1900 . Describing the influx as a "tsunami of change" at Myer, Ms Hurley also highlighted BCBG Maz Azria, known for its event wear, as well as several brands, including Y.A.S. It has 67 stores in prime retail locations across Australia. Couple of times a year (especially near . "We have a very clear focus on who the most valuable customer is to our business and that's what is driving us to put these new brands into our business," he said. Under the terms of the deal, the ASX-listed department . It has 67 stores in prime retail locations across Australia. Department store chain Myer is set to take on twenty new and exclusive brands, including some never-before-seen international names, in the coming weeks. There was an error submitting the form. But QUT retail guru Gary Mortimer told news.com.au that while private label could be easy to spot in supermarkets just look for the Coles or Woolies brands in department stores it was far tricker. Sales of 'Myer Exclusive Brands' or private labels, however, declined 12 percent to 300.2 million Australian dollars, or $226 million. You can also tailor your product to fit the market.. The Movement at Myer concept will cover all aspects of sport for men, women and kid's lifestyle, fashion and footwear needs. More new brands set to feature nationwide are Paper London, Alice & Olivia, Torrance, Proenza Schouler White Label, Karl Largerfeld Paris, Rotate Birger Christensen, Aeryn and Fiorucci. If you are going to spend $400 on Ted Baker clothes, for instance, youre better off going to a Ted Baker store and getting excellent service and knowledge rather than a department store where the staff are selling lots of different brands.. Subscribe for free to get the latest breaking news and analysis sent to your inbox. WELCOME TO MYER PROPERTIES. Restructuring, redundancies and brand losses hit Myer. Boy Names Ending in -er . Rhys Brock, It's been a volatile year so far for the Aussie nursery retailer. Just 12 Marcs and David Lawrence stores will be operating after the sale of the embattled fashion retailers to Myer, its administrators have confirmed. Myer says its online sales are up 25 per cent, but it's not enough to see off a fall in profit. Apple products were taken off Myers shelves last May, while the company exited the Country Road brand in the first quarter of FY20. Until 1970, Myer did not use a proper logo. Myer has spent over $50 million purchasing a number of brands outright including Trent Nathan and Sass and Bide. Become a MYERone Member Today & Earn 2 credits for every $1 spent at Myer. No ones going to buy a Myer suit, but they might buy a Blaq suit which is the same thing, he said. Since the departure of former chief executive Richard Umbers in early 2018, the company has done extensive research to hone its core customer and, crucially, what they want. Country Road, Mimco and Politix are owned by David Jones' parent, Woolworths Holdings, and were pulled out of Myer last month in favour of an exclusive relationship with David Jones. The result, according to womenswear category manager ClareHurley, is the introduction of a suite of new brands, as well as greater ability to "rationalise" brands that are not performing to expectation. Don't have an account? Nationwide News Pty Ltd 2023. Myer added more than 50 new brands such as Jack & Jones, Vero Moda, Oasis, Warehouse, Jack London, Girls on Film, Lorna Jane, Radley, DKNY, Selected Femme and Twisted Tailor last year and another 40 new brands will launch before Christmas. You might go to DJs for Superdry and head home with Studio W. The question is, will consumers care? Australians are set to spend $925 million on mothers this year. Myer deputy chief executive Daniel Bracken is culling private label and national brands to clear floor space for new labels. These are brands owned by a separate company but only distributed in Australia through one of the big two. In an industry known for its transience, the Myer House Brands have proven to be long-lived and successful; with Vue growing to become one of Myers largest and most successful brands. Both department store chains have been struggling to grow topline sales but Myer managed to lift earnings by 3.1 per cent in 2019 mainly by slashing costs while David Jones' earnings plunged 42 per cent. Myer has spent over $50 million purchasing a number of brands outright including Trent Nathan and Sass and Bide. Mitchell Lawler, If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,, January 20, 2021 | Department giant Myer has reported a 37 per cent drop in first-half profit, weighed down by restructuring cost, redundancies and the exit of Apple products and Country Road Group brands. Gazal Corp chief executive Patrick Robinson welcomed Myer's new strategy, saying it represented a growth opportunity for some of the brands in Gazal's joint venture with PVH Inc, especially Calvin Klein White Label. Private label is a way to ensure shoppers have to walk through the door or head to your website to buy the product. Free Click & Collect. "We need to introduce newness at a scale our customer can see a meaningful change when she [or he] walks into our stores," Ms Hurley said. Brands | Featured Brands For Womenswear | MYER Women Top Brands Women's Top Brands All Top Brands Basque Miss Shop Piper Regatta Sunglass Hut Tokito Levi's Filter 4564 items Brand Price Sales & Offers Size Colour Product Category Product Type Bridge Fit Face Shape Lens Technology Pattern Range Tokito Double Breasted Check Blazer In Assorted $129.95 Creating a Framework for Win-Win Partnerships Between Nonprofits and Corporate America March 22, 2023. Rhys Brock, If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option, February 24, 2021 | Myer will stop discounting - getting rid of clearance floors by mid-2019 - reduce floor space, and focus on exclusive brands, as it fights to come back from a shocking near $500 million loss in the year to June 2018. . Add articles to your saved list and come back to them any time. Contact Details: The companys dividend continues to be suspended. Myer has just re-signed Elyse Knowles as ambassador, with more talent set to join. Follow the topics, people and companies that matter to you. Scope of rollout included brand positioning, identity design, packaging design, point of sale, signage, ticketing and labelling, and brand standards documentation. Theyre trying to minimise brands that are sold in both stores, and this is just so they dont cannibalise their own sales and lessen the competition between the two, Ms Do said. Sebastian Bowen, News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January. The company has foreshadowed another dip in sales to come in the future thanks to the exit of brands from the store. Find your type. David Jones has culled about 180 brands from its portfolio of more than 2500 brands over the past six months, including 80 in womenswear alone, clearing floor space for brands such as Seed, FCUK, Marcs, Country Road, Trenery and Witchery and private labels Studio W and Re:. Categories. Instead, the word "Myer" written in all-capital letters was sported on its locations. Mr King said improvements in womenswear and exclusive brands were underway but would not flow through until FY21. By clicking this button, you agree to our, 3 ASX stocks to buy now to get rich later, Why this fund manager is worried about the sustainability of bank dividends, Heres why I might buy these 2 beaten-up share bargains, Beat the banks with these high-dividend-paying stocks. Myer and David Jones really need to inject the fun back into retailing in their stores. Ms Hurley said improvements in the company's e-commerce systems mean Myer has also learnt which brands perform well in certain geographic zones, and can stock physical stores accordingly. But while fashion might be ripe for a department store own-brand takeover, there are several categories where brands reign supreme and likely will do for some time. Over time they had become tired, dated and had lost relevance with consumers. How Activating Brand Purpose Mobilizes Consumers and Galvanizes Teammates to Drive Positive Societal Change April 27, 2023. Mr King also said the supply chain impact of the coronavirus was being managed by teams in Hong Kong and Shanghai. Credit: Graham Denholm. Total sales of MEBs increased by 1.9% to $527.2 million, now representing 17.6% of total sales as a result of improved merchandise ' AA AM 2019 2019 2019. Myer is set to continue to review its fashion range in a bid to stay at the forefront of the worlds fashion trends, according to Mr Winstanley. Learn More. Other brands new to Myer. Walking into one of these stores today isnt a very exciting prospect for consumers today. Given these brands offer much better margins than national brands, or Myer's . Department stores' identity crisis. The keen interest, February 19, 2021 | Many of the brands being offered by department stores can just as easily be purchased from high street specialty stores, Dr Grimmer said, and thats a problem because the specialty stores offer a better customer experience. Having exclusive and well-designed private-label brands reduces the need to discount products. Discover legendary Absolue this Mother's Day in a profusion of joyful gold and an exclusive blend of Grand Rose extracts. Australian fashion designers are not the only losers in Myer's brand cull. IBISWorld predicts the nations department store sector will experience an annualised rate of growth of 1.1 per cent over the next five years an improvement on the past five years of declines, but still only a crawl. People are generally tight on spending but on Black Friday they do come out, Mr King said in an analyst call on Thursday. However, what is considered a private label is becoming a grey area. from Denmark and Rodebjer, that exemplify the "modern Scandinavian" trend that's dominating the fashion world. Equally, Sass and Bide has gone from upstart independent to wholly owned Myer brand. Sep 13, 2019 - 10.00am. Some of the Myer house brands include Blaq apparel and Vue homewares, while David Jones offers a range of products under its eponymous label, among others. [Its a chance to] de-stock and refocus on inventory and what we really need, he said. To make the world Smarter, Happier, And Richer. While Mr King pledged to end the . The store has said exclusive brands is one of its focus areas, and in 23 stores it has experimented with making the products more prominent with encouraging results on sales. If you look at these department stores, particularly David Jones, theyve struggled over the past few years with trying to position themselves and work out what it is theyre offering, and who theyre offering it to, she said.
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