How Myer plans to reinvent its fashion business. "We will invest to grow Myer exclusive brands. Indeed, DJs fancy new shoe heaven floor at its Sydney CBD flagship store boasts Jimmy Choo, Louboutin and Balenciaga. You can head into Myer and David Jones and come out smelling of Chanel, tottering on Louboutins and piled high with Polo by Ralph Lauren. Brands the department stores either owned or controlled themselves could help stem the tide. 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. 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. 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. Mr King said improvements in womenswear and exclusive brands were underway but would not flow through until FY21. 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. Given these brands offer much better margins than national brands, or Myer's . Mr Mortimer said there was only upside for retailers with private label: By owning the intellectual property of the brand and not dealing with the manufacturer or distributor you can generate more margin or, alternatively, lower prices. Myer considering a purchase of high-fashion label Lisa Ho. This logo can still be seen at some locations. Theres just so much competition with discount department stores and other specialty retailers finding their niche, so theyll struggle. Other brands new to Myer. Myer flagged the addition of more than 20 Only at Myer Brands (which includes their private label and exclusive brands) in its March half-year report. The team are focused on mitigating the impact of delays to the planned delivery of merchandise, he said. This set is valued at $1000* includes: Absolue Soft Cream 60ml. Get Deal . Myer is undergoing the biggest pivot in four years by introducing new brands and honing its customer focus in a bid to resurrect its fashion business. 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. "For us, it's about replacing it with more profitable products.". Walking into one of these stores today isnt a very exciting prospect for consumers today. Work will also commence at Myers Belconnen store in Canberra to reduce space, followed by a refurbishment. Take a look at the top gifts she will love. 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 Our latest articles and strategies for the post-work life you want. The Hornsby store closed in January while refurbishments have commenced at the Myer stores in Cairns and Karrinyup, underpinned by significant landlord contributions. document.getElementById( "ak_js_8" ).setAttribute( "value", ( new Date() ).getTime() ); For further insight into how best to prepare your business, fill out the form below to book your free executive workshop and presentation. Were working to restore it. 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. 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. "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. Egg farmers play down threat from cane toad of salmonella. Girls. Our interactive flipbook versions work on mobile phones, tablets and PC's. 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. Please try again later. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show and premium investing services. When Aldi entered the market, supermarkets thought Aussie shoppers wouldnt accept private label because it was the cheap generic version of the real deal. 0. A series of roving runways were part of a party for 1500 customers and VIPs to celebrate the relaunch of the womenswear floors at David Jones' Sydney flagship. Unusual. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. 4 Letter Boy Names. The keen interest, February 19, 2021 | As OrotonGroup (ASX: ORL) and Premier Investments (ASX: PMV) via their Smiggle brand have learned, there are salivating profits to be made. ", Myer has just re-signed Elyse Knowles as ambassador, with more talent set to join.Credit: AAP. The staff discount applies to full price and discounted merchandise: 20% off any brand exclusive to Myer. "We see good growth for those brands in this market. Myer has already started to see an uptick, posting a $38.4 million half-year profit in March after announcing an annual loss of $486 million in the preceding September. Upgrades are also planned for the Albury and Ballarat stores. 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. Copyright 1999-2023 Myer Pty Ltd. GPO Box 2215, Melbourne VIC 3001. 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:. "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. Department giant Myer has reported a 37 per cent drop in first-half profit on higher costs and the exit of Apple products and Country Road brands. All times AEST (GMT +10). Private label is a way to ensure shoppers have to walk through the door or head to your website to buy the product. 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 . In March, Myer reported a small underlying jump in profits to $41.2 million. OFF. Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article. Private label is set to play a far bigger role in the Myer and David Jones stores of the future. Myer is Australia's largest department store group, and a market leader in Australian retailing. We pay our respects to Elders past, present and emerging and acknowledge the continuing connection to land, water and community. "It's very similar to what David Jones went through and our brands in David Jones have had fantastic growth since then.". The head-first dive into own brand is being steered by another factor the weakening control department stores have over big international names. 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. After several years focusing on the high end, there is a discernable shift towards well-priced brands such as Chichi London, which Hurley said offers "value, commercial, accessible dresses" for less than $160 and it expected to perform strongly for the crucial pre-spring racing period. 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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. 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. But with growth in department stores basically non-existent, margins and profits shrinking and wary consumers closing their wallets, the two venerable companies are taking drastic action. On the other hand, concession store sales fell by 5.7 percent. Add articles to your saved list and come back to them any time. Contact Details: But if you walk into a Mecca or Scotch & Soda store youre feted and given attention, and dont feel like youre a hindrance.. The company also has enhanced exclusive supplier arrangements with a number of other brands, such as Material World by Madonna. 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. Learn More. 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. Both chains have insisted big names will still play a critical role in their stores. Join the conversation, you are commenting as. Learn about investing with our Investing Education hub. In with the new Myer is promising new brands and better service to reinvigorate its fashion business. After revealing on Tuesday that it had deleted about 100 domestic and international brands from its 67 stores, Australia's largest department store chain started a "massive spring clean sale" on Wednesday, less than a week after wrapping up its mid-year clearance sale. 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. Sebastian Bowen, News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January. Sales of Myer Exclusive Brands rose 1.9 per cent to $527.2 million, and now represent 17.6 per cent of total sales. Rhys Brock, It's been a volatile year so far for the Aussie nursery retailer. Name Generator. 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. The companys dividend continues to be suspended. . We are being more aggressive in terms of responding. 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. Department store owner Myer (ASX: MYR) is reported to be running the ruler over a purchase of high-fashion womens wear label Lisa Ho. They take the number of womenswear designer brands in David Jones to 200, most of which are exclusive to David Jones and not sold in Myer or specialty stores. 6 OUR CUSTOMER FIRST PLAN ' ' 10 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. Become a MYERone Member Today & Earn 2 credits for every $1 spent at Myer. Copyright 2023 The New Daily. "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.". Myer is at the forefront in the development of new retail concepts and experiences. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Myer has spent over $50 million purchasing a number of brands outright including Trent Nathan and Sass and Bide. Sportscraft is an iconic and loved Australian brand and we are excited to partner with David Jones exclusively," APG&CO chairman Peter Halkett said on Friday. You can do it. Myer has a range of house brands across homewares, womens apparel, mens apparel and childrens apparel. Rhys Brock, How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:, February 4, 2021 | In the short term, theyre expected to still struggle a bit, she said. There was an error submitting the form. Sign Up for Take Stock Equally, Sass and Bide has gone from upstart independent to wholly owned Myer brand. WELCOME TO MYER PROPERTIES. This includes Woolworths Country Road Group brands, she said. SMARTER, HAPPIER, AND RICHER. Categories. Follow the topics, people and companies that matter to you. The companys womenswear segment was cited as a particular disappointing during the first half, especially in brands exclusively stocked by Myer. However, Myer's new chief executive Richard Umbers and deputy chief executive and chief merchandise and marketing officer Daniel Bracken believe the private label range has grown too fast and occupies too much space in Myer's stores. 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. Retailers have been out of favour with investors for a few years now, although that has changed recently. The store recently re-signed 27-year-old model and The Block winner Elyse Knowles, and is set to announce another new face in coming weeks. "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. On Thursday, the value of David Jones dropped by $437 million to $985 million due to a "retail recession", according to its owner, South African company Woolworths Holdings. Having exclusive and well-designed private-label brands reduces the need to discount products. Department stores' identity crisis. Until 1970, Myer did not use a proper logo. 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. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. Nationwide News Pty Ltd 2023. It would appear a clever move for Myer to expand its ownership and exclusive rights to high-end fashion brands such as Lisa Ho, given the higher margins which can be achieved. While Myers private-label brands grew by 3.7 per cent, sales of its branded ranges fell by a similar amount. 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. Visibly revitalise your skin with the ultimate golden Soft Cream collection, to boost skin luminosity and radiance, lift and firm, and target signs of ageing. "The customer is more discerning, more savvy and more demanding than she has been before. Join the conversation with your fellow The New Daily readers and see their replies. log in. Luxury brands, Department stores, and 5 more. Australia; Newsletters 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. Were sorry, this feature is currently unavailable. Men's: Nicce London, Dr Denim, Reebok, Mr Simple. 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. The company has foreshadowed another dip in sales to come in the future thanks to the exit of brands from the store. The homewares brand Vue involved design, photography and artwork for over 300 SKUs across 30 product categories, produced in 12 countries. By continuing to use our site you are agreeing to our. Myer did not have a sales mix target for private label and national brands, Mr Bracken said. 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. We will build destination categories such as accessories, and exit selected categories where Myer is less profitable," King . Neutral Boys. In short, Ms Hurley said the strategy is about staying agile in a fragmented retail sphere in the face of stagnant household incomes. from Denmark and Rodebjer, that exemplify the "modern Scandinavian" trend that's dominating the fashion world. We take a closer look, August 14, 2021 | Lease extension and store upgrades have also been agreed for Myer Albury and Ballarat, while the refurbishment of Myer Karrinyup has commenced and is . For apparel brands Basque, Urbane, Soho and Blaq we developed logos and visual languages to talk to niche consumers. Tweet. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Fill out the form below and click the 'Download Now' button to read the full report. Its next results are due out in September. 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. 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. "We will invest to grow Myer exclusive brands, with broader assortments and extensions to additional categories. Free Click & Collect. 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. 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. and exclusive brands were underway but would . Retail outlets in Australia; Bendigo, Victoria; Victoria; Australia; 1900 . In with the new Myer is promising new brands and better service to reinvigorate its fashion business.Credit: Eddie Jim. Mr King also said the supply chain impact of the coronavirus was being managed by teams in Hong Kong and Shanghai. However, what is considered a private label is becoming a grey area. We developed the positioning and brand name for the homewares house brand, Vue, along with a modern, elegant logo and a visual language. Myer is clearing private label brands such as Piper, Regatta and Basque to make room for new labels in a reversal of the retailer's profit growth strategy over the past few years. Myer clears out private labels as part of brand cull. document.getElementById( "ak_js_7" ).setAttribute( "value", ( new Date() ).getTime() ); Fill out the form below and click the 'Download Now' button to read the full report on THE FUTURE OF HEALTHY FOOD. Brands. In active we are expanding Jaggad, BOD by Rachel Finch and Adidas.All these brands are department store exclusives to Myer, the spokesperson said. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. Find your type. Our friendly customer service team will happily get back to you as soon as they can.
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