By continuing to use our site you are agreeing to our. Unusual. 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:. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. "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. 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. You might go to DJs for Superdry and head home with Studio W. The question is, will consumers care? 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 . Brands. We are an exclusive property management company for owners of vacation properties on the Beaches of South Walton, and Destin. Search. 6 OUR CUSTOMER FIRST PLAN ' ' 10 Nikhil Gangaram, Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. Shopping around for high yielding ASX shares? Subscribe for free to get the latest breaking news and analysis sent to your inbox. 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 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. 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. Sales of 'Myer Exclusive Brands' or private labels, however, declined 12 percent to 300.2 million Australian dollars, or $226 million. Rhys Brock, The Atomos (ASX: AMS) share price has surged 15% this week. ", Women's: Veronica Beard, Ba&sh, Paper London, Lorna Jane, Warehouse, Forever New Curve, Men's: Nicce London, Dr Denim, Reebok, Mr Simple. Shares in Myer are up 14.63 per cent to $0.47 per share at . Both chains have insisted big names will still play a critical role in their stores. The big changes coming to Myer and David Jones. Get Started Investing Amgen cuts 450 workers, cites drug pricing pressure and inflation. 0. 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. Names that Peaked in 1912. Past performance is not necessarily indicative of future returns. 15% everything else (Cosmetics, Apparel, Handbags, Homewares etc) 50% off Full Priced Black Apparel by Myer Exclusive Brands, to wear for work. 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. Retail outlets in Australia; Bendigo, Victoria; Victoria; Australia; 1900 . 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. 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. Free Click & Collect. We respectfully acknowledge the Wurundjeri people of the Kulin Nation, the Traditional Owners and Custodians of the Country on which Eastland resides. 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. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. You can do it. 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. This set is valued at $1000* includes: Absolue Soft Cream 60ml. Mr King said the company would continue to push online sales as the coronavirus threatened to keep people at home. Popular. Myer deputy chief executive Daniel Bracken is culling private label and national brands to clear floor space for new labels. 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 partnership will come as a major blow to Myer, as Sportscraft is one of the retailer's largest national brands, with more than 550 products across womenswear, menswear and accessories. Another brand owner, who did not wish to be named, also welcomed Myer's brand clean-out. 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. 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. Myer considering a purchase of high-fashion label Lisa Ho. The retailer owns or stocks 66 MEBs after buying several distressed brands, such as Trent Nathan and Charlie Brown, and developing in-house labels. Sebastian Bowen, News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January. The homewares brand Vue involved design, photography and artwork for over 300 SKUs across 30 product categories, produced in 12 countries. Women's: Veronica Beard, Ba&sh, Paper London, Lorna Jane, Warehouse, Forever New Curve. 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. This logo can still be seen at some locations. 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 did not have a sales mix target for private label and national brands, Mr Bracken said. "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. Get The New Daily free every morning and evening. Myer Mega Brand Sale: Women's clothing from top brands for 25-30% off. Men's: Nicce London, Dr Denim, Reebok, Mr Simple. "Theres always been areas and brands that have been slower performers. Add articles to your saved list and come back to them any time. Private label is set to play a far bigger role in the Myer and David Jones stores of the future. 10% off Electrical, Jewellery, Food and Furniture. Find out more about our policy and your choices, including how to opt-out. The keen interest, February 19, 2021 | Girls. 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. "We will invest to grow Myer exclusive brands, with broader assortments and extensions to additional categories. 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. All. TO MAKE THE WORLD "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. 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. What Aldi has demonstrated is that private label products can be as good as the national brand product theyve legitimised private label, said Mr Mortimer. Don't have an account? The companys dividend continues to be suspended. Eli Greenblat May 16, 2011 12.00am Save Share Normal text size Larger text size Very large text size 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. 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. We are also focused on growing brands where we have seen a strong response through spring. While greater differentiation and higher margins on house brands are positive steps for Myer and David Jones, both still face underlying fundamental challenges, Ms Do said. 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. . For apparel brands Basque, Urbane, Soho and Blaq we developed logos and visual languages to talk to niche consumers. 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. 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. However, what is considered a private label is becoming a grey area. Myer deputy chief executive Daniel Bracken is culling private label and national brands to clear floor space for new labels. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. 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. We are being more aggressive in terms of responding. It has 67 stores in prime retail locations across Australia. Sign Up for Take Stock 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. How Myer plans to reinvent its fashion business. The Motley Fool Australia operates under AFSL 400691. The chief executive of Australia Post has revealed the extreme challenges that lie ahead as the organisation struggles to turn a profit. 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. Learn More. Over time they had become tired, dated and had lost relevance with consumers. Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article. Walking into one of these stores today isnt a very exciting prospect for consumers today. If theres one thing upscale department stores are known for its big-name brands. But depending on how they roll out their new strategies, they could pull off a turnaround in five years.. These elements, coupled with a strong focus on customer service, provide an inspirational shopping destination for all ages. 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. Egg farmers play down threat from cane toad of salmonella. Australian fashion designers are not the only losers in Myer's brand cull. "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.". 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. 13 April, 2017 12:52. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. 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. Analyze your Baby Name DNA and find the names that match your unique style. Add articles to your saved list and come back to them any time. We will build destination categories such as accessories, and exit selected categories where Myer is less profitable," King . 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). Catalogs. Lisa Ho, which has suffered trading difficulties and recently entered voluntary administration, could be a sensible addition to Myers expanding portfolio of acquired brands. Listen to Our Podcast Myer has a range of house brands across homewares, women's apparel, men's apparel and children's apparel. 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. Apple products were taken off Myers shelves last May, while the company exited the Country Road brand in the first quarter of FY20. Myer has just re-signed Elyse Knowles as ambassador, with more talent set to join. 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. Over the next five years, Woolworths plans to continue boosting sales of private-label and exclusive brands to differentiate David Jones from Myer. If you are going to spend $400 on Ted Baker clothes, for instance, youre better off going to a Ted Baker store and getting excellent service and knowledge rather than a department store where the staff are selling lots of different brands.. 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. "It's very similar to what David Jones went through and our brands in David Jones have had fantastic growth since then.". In Myer, own brands include Basque, Milkshake and Vue. Hear our experts take on shares, the market & how to invest. 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. We will build destination categories, such as accessories and exit . Become a MYERone Member Today & Earn 2 credits for every $1 spent at Myer. Having exclusive and well-designed private-label brands reduces the need to discount products. 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. In Myer, own brands include Basque, Milkshake and Vue. But other categories, well, he wasnt so sure. There are about 40 new brands in womenswear, spread across categories including daywear, evening, active and curve, and about 30 in menswear. Lease extension and store upgrades have also been agreed for Myer Albury and Ballarat, while the refurbishment of Myer Karrinyup has commenced and is . There was an error submitting the form. 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 | Sep 13, 2019 - 10.00am. Myer has also shuttered its clearance floor concept and is targeting another 73,000 square metres of reduced floor space in coming years. from Denmark and Rodebjer, that exemplify the "modern Scandinavian" trend that's dominating the fashion world. 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. View Myer's Tire Supply selection of tire repair supplies, tire valve and hardware, tire patches, tire changing tools, equipment and back shop supplies. 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 has just re-signed Elyse Knowles as ambassador, with more talent set to join.Credit: AAP. Learn about investing with our Investing Education hub. Click here now to find out the names, stock symbols, and full research for our three favourite income ideas, all completely free! Our latest articles and strategies for the post-work life you want. 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. $10. 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. "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. It also helps drive foot traffic, which can boost cross sales., N O ONES GOING TO BUY A MYER-BRAND SUIT. While own brand is not new in department stores, they have taken longer to double down on private label compared with supermarkets. He was reluctant to offer a long-term outlook but said the virus was a potential cashflow opportunity in the short term. In David Jones, Studio W and Re: are brands owned by the firm's ultimate owner, South Africa's Woolworths Holdings. Copyright 2023 The New Daily. Name Generator. "They have a lot of brands in their stable that just don't resonate with their customers," he said. 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. "For us, it's about replacing it with more profitable products.". Australians are set to spend $925 million on mothers this year. Department store owner Myer (ASX: MYR) is reported to be running the ruler over a purchase of high-fashion womens wear label Lisa Ho. The companys womenswear segment was cited as a particular disappointing during the first half, especially in brands exclusively stocked by Myer. During the second half, a major upgrade of the Sydney City ground floor and atrium will begin. There are reports the business could be bought in a multi billions dollar deal after it first landed on Aussies shores back in 1977. Mar 17, 2023 11:45am. Were working to restore it. 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. 1 use today . The collection will also include a comprehensive addition to the plus sized collection, including ONLY Carmakoma, Tokito Curve, Rebel Wilson and Juna Rose. "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. 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. Help using this website - Accessibility statement, women's fashion floors following a $400 million refurbishment. Restructuring, redundancies and brand losses hit Myer. Copyright 2023 The New Daily. 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.
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