After relaunching its women's fashion floors following a $400 million refurbishment of the Elizabeth Street store, David Jones is adding more than 65 exclusive new brands to its range including Toni Maticevski, Balmain, Roksanda, Johanna Ortiz, Tibi, Ganni and Carolina Herrera. You can also tailor your product to fit the market.. Under the terms of the deal, the ASX-listed department . Upgrades are also planned for the Albury and Ballarat stores. CEO Bernie Brooks and his team at Myer have put their primary focus on sales growth, which is a different strategy to CEO Paul Zahras over at competitor David Jones (ASX: DJS), who has focused first and foremost on gross profit margin. All rights reserved. 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. To join the conversation, please She has a broader choice in market And she's more diverse in what shes spending her [money] on," she said. The Motley Fool Australia operates under AFSL 400691. 1 use today . Myer has a range of house brands across homewares, women's apparel, men's apparel and children's apparel. 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. These elements, coupled with a strong focus on customer service, provide an inspirational shopping destination for all ages. document.getElementById( "ak_js_10" ).setAttribute( "value", ( new Date() ).getTime() ); Fill out the form below to book a complimentary session on building consumer trust with our strategy experts today! Myer Mega Brand Sale: Women's clothing from top brands for 25-30% off. "It's fair to say that our brand reduction is across all our product categories and across all our channels to market, whether they are wholesale, whether they be a hybrid concession, whether they be private label," Mr Bracken told Fairfax Media. Retailers have been out of favour with investors for a few years now, although that has changed recently. On the other hand, concession store sales fell by 5.7 percent. 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. ", Women's: Veronica Beard, Ba&sh, Paper London, Lorna Jane, Warehouse, Forever New Curve, Men's: Nicce London, Dr Denim, Reebok, Mr Simple. Over time they had become tired, dated and had lost relevance with consumers. The company has also warned the tough times will continue as the coronavirus outbreak exacerbates the pain of an already soft consumer environment. 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. . 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:. For more information please see our Financial Services Guide. 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. Myers first-half result follows on the heels of another poor interim showing by rival David Jones last month, where operating profit dropped nearly 60 per cent to $20 million on increased discounting and poor sales. More Lists containing Myer. Lease extension and store upgrades have also been agreed for Myer Albury and Ballarat, while the refurbishment of Myer Karrinyup has commenced and is . Unusual. During the second half, a major upgrade of the Sydney City ground floor and atrium will begin. . you'll receive an exclusive Myer birthday discount of $15-$30. How Activating Brand Purpose Mobilizes Consumers and Galvanizes Teammates to Drive Positive Societal Change April 27, 2023. Mr King said improvements in womenswear and exclusive brands were underway but would not flow through until FY21. But Mr Mortimer said David Jones was likely to need less own brand than Myer as it had a clearly-defined customer demographic at the top end of the market. TO MAKE THE WORLD Past performance is not necessarily indicative of future returns. Myer chief John King revealed last week the Country Road brands generated sales of between $50 million and $100 million a year in Myer and suggested the loss might be greater for Woolworths. Discover legendary Absolue this Mother's Day in a profusion of joyful gold and an exclusive blend of Grand Rose extracts. log in. Listen to Our Podcast Categories. 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. Girls. Stripping these costs out, net profit climbed 0.4 per cent to a still-underwhelming $41.5 million. Most will be exclusively available at Myer which provides a great point of difference for our offer and gives our customers exposure to a broader range of international fashion, he said. 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. The company has foreshadowed another dip in sales to come in the future thanks to the exit of brands from the store. While own brand is not new in department stores, they have taken longer to double down on private label compared with supermarkets. "It will be interesting to see the impact on their business we were a significant player, particularly with Mimco and Politix the brands were diminishing over time," he said. August 27, 2021 | Given these brands offer much better margins than national brands, or Myer's . The brands have accessible price points, on-trend designs and frequently updated ranges, a representative from Myer told Retailbiz. 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. We take a closer look, August 14, 2021 | document.getElementById( "ak_js_3" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_4" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_5" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_6" ).setAttribute( "value", ( new Date() ).getTime() ); Fill out the form below and click the 'Download Now' button to read the full report on MARKETING TO MILLENNIALS. Find your type. We offer an unrivalled choice in the latest national, international and exclusive to Myer brands across women's, men's, and children's fashion, as well as accessories, cosmetics, homeware, furniture, electrical goods and much more. For apparel brands Basque, Urbane, Soho and Blaq we developed logos and visual languages to talk to niche consumers. Over the next five years, both are expected to shift their focus to their own private label or house brands, owned, designed and produced for them, IBISWorld senior industry analyst Kim Do said. 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. 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. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. You can do it. Sign Up for Take Stock Myer Exclusive Brands (MEBs) mix as well as lower promotional markdowns and shrinkage. Add articles to your saved list and come back to them any time. 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. Men's: Nicce London, Dr Denim, Reebok, Mr Simple. Scope of rollout included brand positioning, identity design, packaging design, point of sale, signage, ticketing and labelling, and brand standards documentation. Chief executive John King said shoppers were already steering clear of the shops before virus fears emerged, with general footfall subdued for most retailers. The keen interest, February 19, 2021 | Its next results are due out in September. "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. 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. 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. 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. 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. Some of the local names set to feature in the range include Torrance, Nique, Kappa, Fila, Dr Denim and Jack London, while some of the youth brands include Girls on Film, Warehouse and Oasis out of the UK. In Myer, own brands include Basque, Milkshake and Vue. There are reports the business could be bought in a multi billions dollar deal after it first landed on Aussies shores back in 1977. The collection will also include a comprehensive addition to the plus sized collection, including ONLY Carmakoma, Tokito Curve, Rebel Wilson and Juna Rose. Myer struck an agreement to acquire the two brands from the administrator for an undisclosed sum on 12 April. Join our flagship membership service, Share Advisor. Join the conversation, you are commenting as. Dominic Lorrimer. Myer is Australia's largest department store group, and a market leader in Australian retailing. Allan Winstanley, chief merchandise officer at Myer said the collection will see a number of labels on show for the first time ever in Australia. We respectfully acknowledge the Wurundjeri people of the Kulin Nation, the Traditional Owners and Custodians of the Country on which Eastland resides. David Jones and Myer will be changing the brands on offer to customers over the next five years. 6 OUR CUSTOMER FIRST PLAN ' ' 10 Until 1970, Myer did not use a proper logo. The head-first dive into own brand is being steered by another factor the weakening control department stores have over big international names. 10% off Electrical, Jewellery, Food and Furniture. Brands. Copyright 2023 The New Daily. Ms Hurley explained that Mr King's "back to basics" mantra for improving Myer's fortunes didn't equate to "cheap, its not volume value. The Hornsby store closed in January while refurbishments have commenced at the Myer stores in Cairns and Karrinyup, underpinned by significant landlord contributions. Ms Do said the shift towards more exclusive brands will mean less overlap between the two and other retailers, giving each retailer its own clear product offering. This set is valued at $1000* includes: Absolue Soft Cream 60ml. More Myer exclusive brands are joining the department store including Selected Femme, Selected Homme, Twisted Tailor, Acqua di Parma, Girls on Film, and Jack London. $10. MYER IS AUSTRALIAS LARGEST DEPARTMENT STORE GROUP AND HAS BEEN SYNONYMOUS WITH STYLE AND FASHION FOR OVER 100 YEARS, VUE HAS GROWN TO BECOME ONE OF MYERS LARGEST AND MOST SUCCESSFUL BRANDS. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. 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. 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. The big changes coming to Myer and David Jones. Tweet. It also helps drive foot traffic, which can boost cross sales., N O ONES GOING TO BUY A MYER-BRAND SUIT. Work will also commence at Myers Belconnen store in Canberra to reduce space, followed by a refurbishment. "We'll focus on what is the right offer for our customers and how much real estate do they need and what productivity levels are needed to drive the right outcome for Myer.". Going forward, theyre expected to continue increasing their private label brands, which will also help with things like purchasing costs.. Don't have an account? Mr King also said the supply chain impact of the coronavirus was being managed by teams in Hong Kong and Shanghai. Shop All Brands Clothing at Myer. Please remember that investments can go up and down. In David Jones, Studio W and Re: are brands owned by the firm's ultimate owner, South Africa's Woolworths Holdings. Myers profit fell to $24.4 million in the six months to January 25 as total sales dropped 3.8 per cent to $1.6 billion. Sign In / Join. Let's look at what's ahead as the company build, February 8, 2021 | 0. A place loved by all and once you've . 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. Sales of 'Myer Exclusive Brands' or private labels, however, declined 12 percent to 300.2 million Australian dollars, or $226 million. Get 3 Stocks for the Great Dividend Boom in our special FREE report. Just 12 Marcs and David Lawrence stores will be operating after the sale of the embattled fashion retailers to Myer, its administrators have confirmed. View Myer's Tire Supply selection of tire repair supplies, tire valve and hardware, tire patches, tire changing tools, equipment and back shop supplies. Sep 13, 2019 - 10.00am. "The customer is more discerning, more savvy and more demanding than she has been before. Some of the best beaches and communities in Florida are found on the 28 mile stretch of Highway 30A, in South Walton and in the beaches west to Destin. Other brands new to Myer. If theres one thing upscale department stores are known for its big-name brands. The company also has enhanced exclusive supplier arrangements with a number of other brands, such as Material World by Madonna. In active we are expanding Jaggad, BOD by Rachel Finch and Adidas.All these brands are department store exclusives to Myer, the spokesperson said. 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. I want a Samsung TV, not a Myer TV, said Mr Mortimer. It means retail 101 and what that means is constantly introducing newness and looking at whats not working and improving the execution for customers. Please try again. Northwell Health, one of the nation's largest health systems and New York's largest employer, partnered with StrawberryFrog to launch the "Raise Health" Movement, a purpose-based platform to tackle the societal ills that drive our health care issues. University of Tasmania marketing lecturer Dr Louise Grimmer said its a good tactic as the two businesses have lost sight of their purpose in recent years. The majority of the brands will be international labels including Selected Femme, Selected Homme, Oasis, Warehouse and Twisted Tailor. "As part of the Customer First Plan, Myer is constantly reviewing every aspect of its brand and product mix to ensure we are adding new, exclusive, productive and in-demand brands to our stores and online," a Myer spokesman said. He said that like other retailers, Myer enjoyed a spending spike during major trading events such as Black Friday, but traffic was otherwise soft in the six months to January 25. "They have a lot of brands in their stable that just don't resonate with their customers," he said. But depending on how they roll out their new strategies, they could pull off a turnaround in five years.. Department stores' identity crisis. Please try again. The Myer brand also happens to have an online website that offers all the products available at an offline store. We respectfully acknowledge the Traditional Custodians of the land where we live and work and pay our respects to all Elders, past and present, of all Aboriginal and Torres Strait Islander nations. 13 April, 2017 12:52. Were sorry, this feature is currently unavailable. Myer is one of more than 70 Australian retailers, suppliers and vendors who are members of the RFID Coalition, formed almost three years ago by GS1 Australia to accelerate the take-up of the. "Myer's 2019 half-year results saw sales of Myer Exclusive Brands (MEBs) rise by 3.7 percent to $292.2 million, which also assisted the company's profit margins. 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. 4 Letter Boy Names. 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. Myer MD of merchandising and marketing, Daniel Bracken, then outlined a shopping list of priorities to investors to support its more targeted customer efforts.This included a better balance of premium third-party and Myer exclusive brands, cross-departmental selling, localisation of merchandise based on geographic location, experience-led in-store improvements. "We see good growth for those brands in this market. 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. Peter Rae. Get Deal . Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. Sebastian Bowen, News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January. We are also focused on growing brands where we have seen a strong response through spring. Myer chief executive and managing director John King put the improvement down partially to the businesss renewed focus on exclusive brands (private label and otherwise). 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. Egg farmers play down threat from cane toad of salmonella. Win at Retirement In with the new Myer is promising new brands and better service to reinvigorate its fashion business. 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.
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