Myer and David Jones look set to overhaul their range of brands as the two department stores fight to remain competitive in the increasingly challenging retail market. As part of its turnaround plan, Myer plans to "condense" its private label offer and introduce on-trend brands including Aje, Jack and Jones and Calvin Klein White Label, which better reflect the fashion aspirations of its customers. Myer's private label brands, including Piper, Basque, Regatta, Chloe and Lola, Trent Nathan, Wayne by Wayne Cooper, Charlie Brown, Howard Showers, Miss Shop and L Liso Ho, featured in the list of heavily discounted apparel and footwear brands. document.getElementById( "ak_js_11" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_12" ).setAttribute( "value", ( new Date() ).getTime() ); For further insight into how best to prepare your business, fill out the form below to book a complimentary 30-minute Strategy Call with myself, Grant Davidson. Hear our experts take on shares, the market & how to invest. Retailers have been out of favour with investors for a few years now, although that has changed recently. "The decision by Woolworths Holdings has allowed Myer to recalibrate its range to new and exclusive brands, which should support sales, while the focus on Myer exclusive brands achieving 20 per cent of sales should expand gross margins," JP Morgan analyst Shaun Cousins said in a report last week. Tags. 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. 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. 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 | Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The New Dailyasked both Myer and David Jones to confirm that the shift to house brands will mean other well-known brands will be dropped, but neither responded to this question. For more information please see our Financial Services Guide. Learn More. 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. This logo can still be seen at some locations. The brands have accessible price points, on-trend designs and frequently updated ranges, a representative from Myer told Retailbiz. Free Click & Collect. Myer also still stocks a handful of JAG accessories but has already cleared the shelves of Saba after APG&CO took the brand out of Myer earlier this year. The companys dividend continues to be suspended. 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. Couple of times a year (especially near . Add articles to your saved list and come back to them any time. The team are focused on mitigating the impact of delays to the planned delivery of merchandise, he said. 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. Myer chief executive John King says a 3.8 per cent reduction in sales to $1.6 billion can be explained by several factors including a continued focus on profitability, the departure of Apple and the Country Road Group brands, and issues with the womenswear department In a presentation to investors today, Myer CEO, Richard Umbers, detailed the retail group's 'New Myer' strategy, outlining four key pillars for turning the business around: Customer-led offers, wonderful experiences, omni-channel shopping and a productivity step change. Sep 13, 2019 - 10.00am. Myer Price/Pricing Strategy: Below is the pricing strategy in Myer marketing strategy: Myer stores offer products . Myer has announced the launch of a new digital destination, The Movement at Myer, focused on giving customers comprehensive information and product selections in the sporting category. Men's: Nicce London, Dr Denim, Reebok, Mr Simple. Myer struck an agreement to acquire the two brands from the administrator for an undisclosed sum on 12 April. In this video, the V Foundation presented a five-step framework it uses to build the transformational partnerships with for-profit brands that have generated more than $185 million to support cancer research. The company also has enhanced exclusive supplier arrangements with a number of other brands, such as Material World by Madonna. August 27, 2021 | document.getElementById( "ak_js_13" ).setAttribute( "value", ( new Date() ).getTime() ); Fill out the form below and click the 'Download Now' button to read the full report on 7 STRATEGIES BEHIND THE WORLD'S MOST SUCCESSFUL DESTINATION BRANDS. Subscribe for free to get the latest breaking news and analysis sent to your inbox. The danger, said Mr Mortimer, was that in an effort to boost own brands, DJs and particularly Myer could end up looking like a more expensive version of Target, while Zara and H&Ms ability to spot a trend and see it on shelves within weeks would also be hard to replicate. Mr King said the company would continue to push online sales as the coronavirus threatened to keep people at home. The platform will also feature gym . Nationwide News Pty Ltd 2023. Don't have an account? You might go to DJs for Superdry and head home with Studio W. The question is, will consumers care? Work will also commence at Myers Belconnen store in Canberra to reduce space, followed by a refurbishment. You cant touch cosmetics and not electronics either. 0. As a result, the company is planning to extend its private-label range to include footwear and accessories to . Department stores are in a battle for survival, and theres a risk the new trick up their sleeve could turn them into just an expensive Target. Past performance is not necessarily indicative of future returns. This set is valued at $1000* includes: Absolue Soft Cream 60ml. The company booked a net $15.2 million in first-half costs associated with brand exits, clearance floor closures, and redundancy payouts after the company cut 35 head office staff in January. Lisa Ho, which has suffered trading difficulties and recently entered voluntary administration, could be a sensible addition to Myers expanding portfolio of acquired brands. Sebastian Bowen, News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January. Myer is Australia's largest department store group, and a market leader in Australian retailing. Analyze your Baby Name DNA and find the names that match your unique style. "It's very similar to what David Jones went through and our brands in David Jones have had fantastic growth since then.". Myer doubles its outsourcing from China Business This was published 11 years ago Myer doubles its outsourcing from China Myer will nearly double its direct outsourcing of fashion, homewares and merchandise from China to $200 million. It has 67 stores in prime retail locations across Australia. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. I want a Samsung TV, not a Myer TV, said Mr Mortimer. "We see good growth for those brands in this market. Over time they had become tired, dated and had lost relevance with consumers. 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. Although sales have been the key objective, presentations by Myer show that improvements in the gross margin have been driven by a focus on increased sales of exclusive brands items. Other brands new to Myer. People are generally tight on spending but on Black Friday they do come out, Mr King said in an analyst call on Thursday. Mar 17, 2023 11:45am. 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. from Denmark and Rodebjer, that exemplify the "modern Scandinavian" trend that's dominating the fashion world. Our stores pride themselves on exciting visual merchandising displays, and a distinctive range of store within store concepts from big brands like Nespresso, KitchenAid, Dyson and more. Mr King said improvements in womenswear and exclusive brands were underway but would not flow through until FY21. Having exclusive and well-designed private-label brands reduces the need to discount products. For a lot of these new international brands it will be the first time that they are available in a physical retail store within Australia. To join the conversation, please Mr King also said the supply chain impact of the coronavirus was being managed by teams in Hong Kong and Shanghai. In David Jones, Studio W and Re: are brands owned by the firms ultimate owner, South Africas Woolworths Holdings. Dominic Lorrimer. Boy Names Ending in R. One Syllable Names for Boys. Focusing on private and exclusive labels is likely to help Myer and David Jones differentiate themselves from online stores, as consumers will only be able purchase certain brands from one store, said Ms Do. Advanced Search. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. Myer is Australia's largest department store group, and a market leader in Australian retailing. Our latest articles and strategies for the post-work life you want. Few people would see Country Road or Witchery as an own brand, yet they too are owned by Woolworths, and the company is ripping the names out of Myer so DJs can say its the only department store hosting the fashion names. 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 The department store will continue to grow and invest in the plus size space, the representative told Retailbiz. Learn about investing with our Investing Education hub. Peter Rae. SMARTER, HAPPIER, AND RICHER. Categories. Are you looking for. Many, but not all, are exclusive to Myer, something that has been a cornerstone of chief executive John King's strategy for reversing the company's fortunes since he took over in mid-2018. Not going to be 80: Michael J Foxs emotional admission, Related: Black Friday spending smashes retail takings, Treasury warns on full hit to economy from virus, bushfires. Copyright 2023 The New Daily. For apparel brands Basque, Urbane, Soho and Blaq we developed logos and visual languages to talk to niche consumers. Popular. 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. Phone: (03) 8592 4841 As part of the Myer turn-around strategy, Davidson worked closely with Managing Director, Dawn Roberts, to help rationalise and revitalise the entire house brand portfolio. View Myer's Tire Supply selection of tire repair supplies, tire valve and hardware, tire patches, tire changing tools, equipment and back shop supplies. The refurbishment of the Myer Cairns and Belconnen stores is due to be completed by November 2020 with an enhanced appearance, layout, adjacencies and introduction of new and exclusive 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. In Myer, own brands include Basque, Milkshake and Vue. ", Myer has just re-signed Elyse Knowles as ambassador, with more talent set to join.Credit: AAP. This work never ends, we need to reinvigorate our stores seasonally and will constantly chase new brands so we remain at the front line of fashion in Australia., How to integrate marketplaces into your e-commerce strategy. In short, Ms Hurley said the strategy is about staying agile in a fragmented retail sphere in the face of stagnant household incomes. Shop All Brands Clothing at Myer. If theres one thing upscale department stores are known for its big-name brands. 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. He was reluctant to offer a long-term outlook but said the virus was a potential cashflow opportunity in the short term. 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. It also helps drive foot traffic, which can boost cross sales., N O ONES GOING TO BUY A MYER-BRAND SUIT. Email: [emailprotected] Rhys Brock, It's been a volatile year so far for the Aussie nursery retailer. David Jones does not stipulate the total number of brands in 2011 apart from adding 90 brands for a "Home of Brands" strategy supported by the strategy to "offer the . Tweet. OFF. This includes Woolworths Country Road Group brands, she said. Chief executive John King said shoppers were already steering clear of the shops before virus fears emerged, with general footfall subdued for most retailers. An analysis by market researchers IBISWorld said revenue at department stores was likely to remain stagnant, which has turbocharged the push by David Jones and Myer into private label.

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