Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article. 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. 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. Apple products were taken off Myers shelves last May, while the company exited the Country Road brand in the first quarter of FY20. 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. 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. It also helps drive foot traffic, which can boost cross sales., N O ONES GOING TO BUY A MYER-BRAND SUIT. 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 | I want a Samsung TV, not a Myer TV, said Mr Mortimer. The majority of the brands will be international labels including Selected Femme, Selected Homme, Oasis, Warehouse and Twisted Tailor. "The customer is more discerning, more savvy and more demanding than she has been before. 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 | Some of the Myer house brands include Blaq apparel and Vue homewares, while David Jones offers a range of products under its eponymous label, among others. [Its a chance to] de-stock and refocus on inventory and what we really need, he said. Myer has spent over $50 million purchasing a number of brands outright including Trent Nathan and Sass and Bide. Myer has just re-signed Elyse Knowles as ambassador, with more talent set to join. 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. 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. Image: Wikimedia. 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. But if you walk into a Mecca or Scotch & Soda store youre feted and given attention, and dont feel like youre a hindrance.. Myer and David Jones really need to inject the fun back into retailing in their stores. Please try again. How Myer plans to reinvent its fashion business. David Jones and Myer will be changing the brands on offer to customers over the next five years. But other categories, well, he wasnt so sure. Join the conversation with your fellow The New Daily readers and see their replies. Search for product or brand Clear. 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 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. A place loved by all and once you've . 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. Private label is a way to ensure shoppers have to walk through the door or head to your website to buy the product. The homewares brand Vue involved design, photography and artwork for over 300 SKUs across 30 product categories, produced in 12 countries. 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. 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. The collection will also include a comprehensive addition to the plus sized collection, including ONLY Carmakoma, Tokito Curve, Rebel Wilson and Juna Rose. Follow the topics, people and companies that matter to you. Myer has also shuttered its clearance floor concept and is targeting another 73,000 square metres of reduced floor space in coming years. You can also tailor your product to fit the market.. Menswear, womenswear and particularly kidswear were ripe for private label, he said, as was Manchester. 1 use today . Were working to restore it. Please try again later. 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. A store like Mecca, for example, has an incredible loyalty program as well, and I think the department stores just cant match the atmosphere or the offering of those specialist stores, she said. 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. 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 respectfully acknowledge the Wurundjeri people of the Kulin Nation, the Traditional Owners and Custodians of the Country on which Eastland resides. He was reluctant to offer a long-term outlook but said the virus was a potential cashflow opportunity in the short term. All rights reserved. All times AEST (GMT +10). Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. David Jones has snared exclusive department store rights to the Sportscraft, Saba and JAG brands after signing a partnership agreement with Australian apparel group APG&CO. However, what is considered a private label is becoming a grey area. Going forward, theyre expected to continue increasing their private label brands, which will also help with things like purchasing costs.. 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. ", Myer has just re-signed Elyse Knowles as ambassador, with more talent set to join.Credit: AAP. 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. As OrotonGroup (ASX: ORL) and Premier Investments (ASX: PMV) via their Smiggle brand have learned, there are salivating profits to be made. 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. Please try again. We are an exclusive property management company for owners of vacation properties on the Beaches of South Walton, and Destin. 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. You can do it. 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. "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. 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 keen interest, February 19, 2021 | Luxury brands, Department stores, and 5 more. Rhys Brock, It's been a volatile year so far for the Aussie nursery retailer. 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The Motley Fool Australia operates under AFSL 400691. . Win at Retirement Categories. Instead, the word "Myer" written in all-capital letters was sported on its locations. Myer will stop discounting - getting rid of clearance floors by mid-2019 - reduce floor space, and focus on exclusive brands, as it fights to come back from a shocking near $500 million loss in the year to June 2018. . OFF. Names that Peaked in 1912. Our friendly customer service team will happily get back to you as soon as they can. There are reports the business could be bought in a multi billions dollar deal after it first landed on Aussies shores back in 1977. 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. The companys dividend continues to be suspended. Take a look at the top gifts she will love. Myer is attempting to counter the loss of these brands by introducing new national and international brands and lifting house brands from almost 18 per cent to 20 per cent of sales. 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 did not have a sales mix target for private label and national brands, Mr Bracken said. Theres just so much competition with discount department stores and other specialty retailers finding their niche, so theyll struggle. Get The New Daily free every morning and evening. During the second half, a major upgrade of the Sydney City ground floor and atrium will begin. 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:. from Denmark and Rodebjer, that exemplify the "modern Scandinavian" trend that's dominating the fashion world. 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. In Myer, own brands include Basque, Milkshake and Vue. Rhys Brock, How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:, February 4, 2021 | A retail analyst has said department stores are well and truly feeling the Aldi effect whereby consumers are demanding better quality and lower prices and are willing to trade in big-name brands for the privilege. In active we are expanding Jaggad, BOD by Rachel Finch and Adidas.All these brands are department store exclusives to Myer, the spokesperson said. The retailer owns or stocks 66 MEBs after buying several distressed brands, such as Trent Nathan and Charlie Brown, and developing in-house labels. SMARTER, HAPPIER, AND RICHER. Given these brands offer much better margins than national brands, or Myer's . 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. Were sorry, this feature is currently unavailable. This set is valued at $1000* includes: Absolue Soft Cream 60ml. 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. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. "We will invest to grow Myer exclusive brands, with broader assortments and extensions to additional categories. 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. 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. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Boy Names Ending in -er . Free Delivery Over $99* Order By May 3 For Mother's Day. "Were investing in the pieces that have a longer lifespan.". 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. 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. . 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. There was an error submitting the form. Australians are set to spend $925 million on mothers this year. 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. Shopping around for high yielding ASX shares? On the other hand, concession store sales fell by 5.7 percent. 10% off Electrical, Jewellery, Food and Furniture. While Myers private-label brands grew by 3.7 per cent, sales of its branded ranges fell by a similar amount. 4 Letter Boy Names. "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 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. "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. Neutral Boys. Eli Greenblat May 16, 2011 12.00am Save Share Normal text size Larger text size Very large text size Learn about investing with our Investing Education hub. For apparel brands Basque, Urbane, Soho and Blaq we developed logos and visual languages to talk to niche consumers. These elements, coupled with a strong focus on customer service, provide an inspirational shopping destination for all ages. All. Stripping these costs out, net profit climbed 0.4 per cent to a still-underwhelming $41.5 million. 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. Myer clears out private labels as part of brand cull. Email: [emailprotected] "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. 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. Total comparable store sales grew by 0.4 per cent when excluding Apple and Country Road Group sales. 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. The chief executive of Australia Post has revealed the extreme challenges that lie ahead as the organisation struggles to turn a profit. document.getElementById( "ak_js_16" ).setAttribute( "value", ( new Date() ).getTime() ). 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. In David Jones, Studio W and Re: are brands owned by the firm's ultimate owner, South Africa's Woolworths Holdings. This includes Woolworths Country Road Group brands, she said. 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. The companys online sales grew by 25.2 per cent to $168.2 million during the half but not enough to counter in-store declines. 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. Copyright 2023 The New Daily. By continuing to use our site you are agreeing to our. 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.

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