"Theres always been areas and brands that have been slower performers. 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. Restructuring, redundancies and brand losses hit Myer. Learn about investing with our Investing Education hub. 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. 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. Myer has spent over $50 million purchasing a number of brands outright including Trent Nathan and Sass and Bide. Myer takes stock control high-tech - Australian Financial Review Myer would be looking to snap the brand up out of administrators hands, however it is likely to face some stiff competition from trade buyers and also from private equity. David Jones, Myer: Department stores look to increase private label While Mr King pledged to end the era of perpetual discounting, Myer is taking some risk by launching "rapid-fashion" brand Misguided, which is known in the industry for being "fastest to market" with trends. While Myers private-label brands grew by 3.7 per cent, sales of its branded ranges fell by a similar amount. For apparel brands Basque, Urbane, Soho and Blaq we developed logos and visual languages to talk to niche consumers. 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 | 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. 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. 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. How Myer stopped the rot - Australian Financial Review 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. Free Delivery Over $99* Order By May 3 For Mother's Day. Updated: Myer acquires embattled fashion brands, Marcs and David - CMO Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Search for product or brand Clear. Instead, the word "Myer" written in all-capital letters was sported on its locations. Get Deal . 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. 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. In the future there will be less brands you know and more brands youve never heard of. Myer to expand exclusive brands - The Motley Fool Australia 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. We developed the positioning and brand name for the homewares house brand, Vue, along with a modern, elegant logo and a visual language. The brand is very customer centric and the stores offer exclusive brands and high quality services. All rights reserved. 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. Creating a Framework for Win-Win Partnerships Between Nonprofits and The Myer brand also happens to have an online website that offers all the products available at an offline store. 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. 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. 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. WELCOME TO MYER PROPERTIES. As a result, the company is planning to extend its private-label range to include footwear and accessories to . 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. Search. Nikhil Gangaram, Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. While they still face some headwinds, better days could lie ahead and their dividend yields offer added appeal. I want a Samsung TV, not a Myer TV, said Mr Mortimer. document.getElementById( "ak_js_9" ).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 FMCG. In short, Ms Hurley said the strategy is about staying agile in a fragmented retail sphere in the face of stagnant household incomes. We will build destination categories such as accessories, and exit selected categories where Myer is less profitable," King . 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. Having exclusive and well-designed private-label brands reduces the need to discount products. Dominic Lorrimer. The department store will continue to grow and invest in the plus size space, the representative told Retailbiz. While Mr King pledged to end the . Sales of 'Myer Exclusive Brands' or private labels, however, declined 12 percent to 300.2 million Australian dollars, or $226 million. Mothers Day 2023: 30 gift ideas to treat mum. You might go to DJs for Superdry and head home with Studio W. The question is, will consumers care? 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. Luxury brands, Department stores, and 5 more. 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. How Activating Brand Purpose Mobilizes Consumers and Galvanizes Teammates to Drive Positive Societal Change April 27, 2023. TO MAKE THE WORLD A place loved by all and once you've . Going forward, theyre expected to continue increasing their private label brands, which will also help with things like purchasing costs.. To join the conversation, please 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. 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. Myer, David Jones in Hot Water as Shoppers Move Online The keen interest, February 19, 2021 | 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. Subscribe for free to get the latest breaking news and analysis sent to your inbox. Learn More. 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. Myer | Eastland Please remember that investments can go up and down. 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. Join Our Premium Community Credit: Graham Denholm. The company also has enhanced exclusive supplier arrangements with a number of other brands, such as Material World by Madonna. Myer and David Jones are also busily signing up exclusive brands. Unusual. Comparing strategic approaches to see what strategy looks like: Myer 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). In a move that is set to shake up the discount retail sector, Gazal has agreed to sell its 35 Trade Secret stores to global off-price retail giant TJX Companies Inc for $80 million to focus on the PVH brands. 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. 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. "Its something you have to consider introducing a brand thats so fast to market, which can also mean its faster to markdown," Ms Hurley said. By continuing to use our site you are agreeing to our. The Motley Fool Australia operates under AFSL 400691. But depending on how they roll out their new strategies, they could pull off a turnaround in five years.. Brands | Featured Brands For Womenswear | MYER you'll receive an exclusive Myer birthday discount of $15-$30. Questions and Answers about Myer Benefits | Indeed.com Theres just so much competition with discount department stores and other specialty retailers finding their niche, so theyll struggle. Please try again. Discover legendary Absolue this Mother's Day in a profusion of joyful gold and an exclusive blend of Grand Rose extracts. 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. We are an exclusive property management company for owners of vacation properties on the Beaches of South Walton, and Destin. $10. Contact Details: 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. Please try again. Myer announces half-billion dollar loss - CMO Australia But if you walk into a Mecca or Scotch & Soda store youre feted and given attention, and dont feel like youre a hindrance.. In active we are expanding Jaggad, BOD by Rachel Finch and Adidas.All these brands are department store exclusives to Myer, the spokesperson said. 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. 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. More Lists containing Myer. 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. Myer doubles its outsourcing from China - smh.com.au Get The New Daily free every morning and evening. The big changes coming to Myer and David Jones. Find your type. document.getElementById( "ak_js_16" ).setAttribute( "value", ( new Date() ).getTime() ). 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. The company has foreshadowed another dip in sales to come in the future thanks to the exit of brands from the store. Given these brands offer much better margins than national brands, or Myer's . View the status of an order by entering your order number, email address, and phone number below, One-touch access to your Member Card and redeem Rewards directly from the App. Myer Discount Codes | 15% Off In April 2023 | Lifehacker Egg farmers play down threat from cane toad of salmonella. 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. 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. Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article. Copyright 2023 The New Daily. Add articles to your saved list and come back to them any time. Neutral Boys. 1 use today . Myer struck an agreement to acquire the two brands from the administrator for an undisclosed sum on 12 April. Myer is Australia's largest department store group, and a market leader in Australian retailing. Get Started Investing Lancme Absolue Soft Cream Collection 2023 | MYER Myer and David Jones really need to inject the fun back into retailing in their stores. 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. Mr King said the company would continue to push online sales as the coronavirus threatened to keep people at home. 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 Properties Vacation Rentals | Myer Properties Vacation Homes "There is a strong strategic alignment with David Jones and Sportscraft now joins both Saba and JAG, which are already exclusive to David Jones.. Private label is a way to ensure shoppers have to walk through the door or head to your website to buy the product. Men's: Nicce London, Dr Denim, Reebok, Mr Simple. How Myer plans to reinvent its fashion business. 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.