We respectfully acknowledge the Wurundjeri people of the Kulin Nation, the Traditional Owners and Custodians of the Country on which Eastland resides. Email: [emailprotected] But Dr Grimmer said the success of a shift to private labels will hinge on how well the retail titans can communicate the changes to their customers many of whom have already turned their backs on them. Add articles to your saved list and come back to them any time. 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. Brands. In the short term, theyre expected to still struggle a bit, she said. Categories. Sign Up for Take Stock Get Deal . "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. Phone: (03) 8592 4841 However, what is considered a private label is becoming a grey area. Shopping around for high yielding ASX shares? 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. Nonetheless, IBISWorlds Ms Do said since taking over DJs in 2014, Woolworths had moved away from the previous house of brands strategy. Egg farmers play down threat from cane toad of salmonella. 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. 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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. 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. Myer and David Jones really need to inject the fun back into retailing in their stores. Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article. "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. We are also focused on growing brands where we have seen a strong response through spring. Free Delivery Over $99* Order By May 3 For Mother's Day. Myer is at the forefront in the development of new retail concepts and experiences. Myer struck an agreement to acquire the two brands from the administrator for an undisclosed sum on 12 April. The staff discount applies to full price and discounted merchandise: 20% off any brand exclusive to Myer. Image: Wikimedia. 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. Over time they had become tired, dated and had lost relevance with consumers. Contact Details: All. View Myer's Tire Supply selection of tire repair supplies, tire valve and hardware, tire patches, tire changing tools, equipment and back shop supplies. Past performance is not necessarily indicative of future returns. Copyright 2023 The New Daily. 15% everything else (Cosmetics, Apparel, Handbags, Homewares etc) 50% off Full Priced Black Apparel by Myer Exclusive Brands, to wear for work. "We will invest to grow Myer exclusive brands, with broader assortments and extensions to additional categories. Myer has a range of house brands across homewares, women's apparel, men's apparel and children's apparel. It means retail 101 and what that means is constantly introducing newness and looking at whats not working and improving the execution for customers. 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 . Get 3 Stocks for the Great Dividend Boom in our special FREE report. 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. 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. and exclusive brands were underway but would . 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. 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. By continuing to use our site you are agreeing to our. Over the next five years, Woolworths plans to continue boosting sales of private-label and exclusive brands to differentiate David Jones from Myer. Myer considering a purchase of high-fashion label Lisa Ho. 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. Given these brands offer much better margins than national brands, or Myer's . 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. 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. Walking into one of these stores today isnt a very exciting prospect for consumers today. This includes Woolworths Country Road Group brands, she said. The company has also warned the tough times will continue as the coronavirus outbreak exacerbates the pain of an already soft consumer environment. Both chains have insisted big names will still play a critical role in their stores. Boy Names Ending in R. One Syllable Names for Boys. Please try again later. Get The New Daily free every morning and evening. Tweet. 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. The Movement at Myer concept will cover all aspects of sport for men, women and kid's lifestyle, fashion and footwear needs. Its the Aldi effect. Rhys Brock, The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July., January 29, 2021 | 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. 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. Myer deputy chief executive Daniel Bracken is culling private label and national brands to clear floor space for new labels. In short, Ms Hurley said the strategy is about staying agile in a fragmented retail sphere in the face of stagnant household incomes. 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. 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. The private label brands, or MEBs, have helped Myer differentiate its offer from David Jones and Target and have been a key driver of sales and margin growth over the past few years, with sales reaching $638 million, or 20 per cent of group sales, in 2014. You can do it. Until 1970, Myer did not use a proper logo. 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. We will build destination categories such as accessories, and exit selected categories where Myer is less profitable," King . The loss of the Sportscraft brand comes as Myer fills gaps in its range after losing Country Road and sister brands Mimco and Politix to David Jones. The staff discount applies to full price and discounted merchandise: 20% off any brand exclusive to Myer 10% off Electrical, Jewellery, Food and Furniture 15% everything else (Cosmetics, Apparel, Handbags, Homewares etc) 50% off Full Priced Black Apparel by Myer Exclusive Brands, to wear for work Couple of times a year (especially near Christmas), the big cosmetic brands (Dior, Estee Lauder . 0. Neutral Boys. Register, Join the conversation, you are commenting as Logout. Were working to restore it. . Australian fashion designers are not the only losers in Myer's brand cull. Peter Rae. Apple products were taken off Myers shelves last May, while the company exited the Country Road brand in the first quarter of FY20. Popular. In March, Myer reported a small underlying jump in profits to $41.2 million. Myer has spent over $50 million purchasing a number of brands outright including Trent Nathan and Sass and Bide. Sign In / Join. Myer has spent over $50 million purchasing a number of brands outright including Trent Nathan and Sass and Bide. The Myer brand also happens to have an online website that offers all the products available at an offline store. The brand is very customer centric and the stores offer exclusive brands and high quality services. 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. 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. "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. OFF. Please remember that investments can go up and down. No ones going to buy a Myer suit, but they might buy a Blaq suit which is the same thing, he said. Amgen cuts 450 workers, cites drug pricing pressure and inflation. 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. Brands the department stores either owned or controlled themselves could help stem the tide. Myers half-year result to the end of January showed private and exclusive labels accounted for $292.2 million worth of revenue, or around 17 per cent of sales. 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. The homewares brand Vue involved design, photography and artwork for over 300 SKUs across 30 product categories, produced in 12 countries. 10% off Electrical, Jewellery, Food and Furniture. 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. 4 Letter Boy Names. Girls. If theres one thing upscale department stores are known for its big-name brands. Subscribe for free to get the latest breaking news and analysis sent to your inbox. Myer is Australia's largest department store group, and a market leader in Australian retailing. 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:. Tags. The retailer owns or stocks 66 MEBs after buying several distressed brands, such as Trent Nathan and Charlie Brown, and developing in-house labels. 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. 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. 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. Join the conversation, you are commenting as. It has 67 stores in prime retail locations across Australia. Myer and David Jones are also busily signing up exclusive brands. Myer has a range of house brands across homewares, womens apparel, mens apparel and childrens apparel. you'll receive an exclusive Myer birthday discount of $15-$30. Myer did not have a sales mix target for private label and national brands, Mr Bracken said. Were working to restore it. 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 | Secondly, the department store is going to focus more heavily on its 'Only at Myer' branded category. Add articles to your saved list and come back to them any time. Find your type. Were sorry, this feature is currently unavailable. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. It also helps drive foot traffic, which can boost cross sales., N O ONES GOING TO BUY A MYER-BRAND SUIT. The majority of the brands will be international labels including Selected Femme, Selected Homme, Oasis, Warehouse and Twisted Tailor. Join the conversation with your fellow The New Daily readers and see their replies. Myer Price/Pricing Strategy: Below is the pricing strategy in Myer marketing strategy: Myer stores offer products . Sebastian Bowen, News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January. 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 chief executive and managing director John King put the improvement down partially to the businesss renewed focus on exclusive brands (private label and otherwise). 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. The loss of the Sportscraft brand comes as Myer fills gaps in its range after losing Country Road and sister brands Mimco and Politix to David Jones. Find out more about our policy and your choices, including how to opt-out. We are an exclusive property management company for owners of vacation properties on the Beaches of South Walton, and Destin. How Myer plans to reinvent its fashion business. More Lists containing Myer. 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. There was an error submitting the form. Couple of times a year (especially near . "They have a lot of brands in their stable that just don't resonate with their customers," he said. 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. Luxury brands, Department stores, and 5 more. Mar 17, 2023 11:45am. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Discover legendary Absolue this Mother's Day in a profusion of joyful gold and an exclusive blend of Grand Rose extracts. We take a closer look, August 14, 2021 | Get Started Investing Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Mr King said the company would continue to push online sales as the coronavirus threatened to keep people at home. You can also tailor your product to fit the market.. log in. Department stores' identity crisis. Shares in the company which were worth $3.05 in April 2015 before dropping 90 per cent over five years were up 1.45 per cent to 35 cents by 1020 AEDT on Thursday. I cant tell you what the future holds; were trying to drive online as hard as we can because if people are scared to come out, hey, they can shop at home, Mr King said. They are globally positioned, they have a great design team and great scale we think we're well positioned with those brands as we move forward," Mr Robinson said. 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. In with the new Myer is promising new brands and better service to reinvigorate its fashion business.Credit: Eddie Jim. The team are focused on mitigating the impact of delays to the planned delivery of merchandise, he said. Get The New Daily free every morning and evening. . "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. Australians are set to spend $925 million on mothers this year. 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. 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. In the future there will be less brands you know and more brands youve never heard of. SMARTER, HAPPIER, AND RICHER. "We will invest to grow Myer exclusive brands. 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.
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