The company also has enhanced exclusive supplier arrangements with a number of other brands, such as Material World by Madonna. 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. Until 1970, Myer did not use a proper logo. 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. Were sorry, this feature is currently unavailable. Myer is Australias largest department store and has been synonymous with style and fashion for over 100 years. 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. In David Jones, Studio W and Re: are brands owned by the firm's ultimate owner, South Africa's Woolworths Holdings. 4 Letter Boy Names. 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. 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. 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. Join the conversation, you are commenting as. The keen interest, February 19, 2021 | 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. 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. 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 | It also helps drive foot traffic, which can boost cross sales., N O ONES GOING TO BUY A MYER-BRAND SUIT. Chief executive John King said shoppers were already steering clear of the shops before virus fears emerged, with general footfall subdued for most retailers. It has 67 stores in prime retail locations across Australia. In with the new Myer is promising new brands and better service to reinvigorate its fashion business. Myer Mega Brand Sale: Women's clothing from top brands for 25-30% off. And despite leaching several brands to its main competitor, David Jones, Myer has secured Australian labels including Hansen & Gretel, Atoir, Husk, and Pfeiffer. David Jones and Myer will be changing the brands on offer to customers over the next five years. While Myers private-label brands grew by 3.7 per cent, sales of its branded ranges fell by a similar amount. Given these brands offer much better margins than national brands, or Myer's . Mr King said the company would continue to push online sales as the coronavirus threatened to keep people at home. 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. Sign In / Join. Dominic Lorrimer. The retailer owns or stocks 66 MEBs after buying several distressed brands, such as Trent Nathan and Charlie Brown, and developing in-house labels. 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. "It's very similar to what David Jones went through and our brands in David Jones have had fantastic growth since then.". The company has also warned the tough times will continue as the coronavirus outbreak exacerbates the pain of an already soft consumer environment. Myer chief executive John King says a 3.8 per cent reduction in sales to $1.6 billion can be explained by several factors including a continued focus on profitability, the departure of Apple and the Country Road Group brands, and issues with the womenswear department Name Generator. Join the conversation with your fellow The New Daily readers and see their replies. I want a Samsung TV, not a Myer TV, said Mr Mortimer. 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. 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. Myer has a range of house brands across homewares, womens apparel, mens apparel and childrens apparel. 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. Get The New Daily free every morning and evening. Luxury brands, Department stores, and 5 more. All rights reserved. Were working to restore it. There was an error submitting the form. 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. 15% everything else (Cosmetics, Apparel, Handbags, Homewares etc) 50% off Full Priced Black Apparel by Myer Exclusive Brands, to wear for work. Sales of Myer Exclusive Brands rose 1.9 per cent to $527.2 million, and now represent 17.6 per cent of total sales. By continuing to use our site you are agreeing to our. IBISWorlds senior analyst Kim Do said the stores had fallen out of favour with shoppers opting for online, where prices are lower and choice almost limitless, and fast fashion giants Zara and H&M. Myer struck an agreement to acquire the two brands from the administrator for an undisclosed sum on 12 April. Categories. In with the new Myer is promising new brands and better service to reinvigorate its fashion business.Credit: Eddie Jim. Secondly, the department store is going to focus more heavily on its 'Only at Myer' branded category. Myer doubles its outsourcing from China - smh.com.au During the second half, a major upgrade of the Sydney City ground floor and atrium will begin. Mr King said improvements in womenswear and exclusive brands were underway but would not flow through until FY21. Menswear, womenswear and particularly kidswear were ripe for private label, he said, as was Manchester. 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! He said that like other retailers, Myer enjoyed a spending spike during major trading events such as Black Friday, but traffic was otherwise soft in the six months to January 25. Over time they had become tired, dated and had lost relevance with consumers. "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. The company has foreshadowed another dip in sales to come in the future thanks to the exit of brands from the store. 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. Familiar. Both chains have insisted big names will still play a critical role in their stores. 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 . from Denmark and Rodebjer, that exemplify the "modern Scandinavian" trend that's dominating the fashion world. All Brands Clothing | Shop Online | MYER 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. Nikhil Gangaram, Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. Myer - Baby Name Meaning, Origin, and Popularity | Nameberry Retailers have been out of favour with investors for a few years now, although that has changed recently. 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. 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. 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. Myer considering a purchase of high-fashion label Lisa Ho. Myer is also pledging to invest in customer service in areas requiring more individual attention, such as lingerie, denim and footwear, as well as working with a "diverse mix of ambassadors". Myer is at the forefront in the development of new retail concepts and experiences. 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. log in. 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. The collection will also include a comprehensive addition to the plus sized collection, including ONLY Carmakoma, Tokito Curve, Rebel Wilson and Juna Rose. Sign Up for Take Stock Just 12 Marcs and David Lawrence stores will be operating after the sale of the embattled fashion retailers to Myer, its administrators have confirmed. Myer | Eastland 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. Sales of 'Myer Exclusive Brands' or private labels, however, declined 12 percent to 300.2 million Australian dollars, or $226 million. Tags. How Activating Brand Purpose Mobilizes Consumers and Galvanizes Mothers Day 2023: 30 gift ideas to treat mum. This logo can still be seen at some locations. 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. "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. document.getElementById( "ak_js_15" ).setAttribute( "value", ( new Date() ).getTime() ); Download the full report to learn about the 12 strategies that will show you how you can prepare your business to survive and thrive through a recession. Credit: Graham Denholm. Myer and David Jones really need to inject the fun back into retailing in their stores. How Activating Brand Purpose Mobilizes Consumers and Galvanizes Teammates to Drive Positive Societal Change April 27, 2023. Retailbiz covers every aspect of Australias retail sector with a focus on the innovations and technologies that are driving the industry forward. 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 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. 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. However, what is considered a private label is becoming a grey area. Copyright 1999-2023 Myer Pty Ltd. GPO Box 2215, Melbourne VIC 3001. 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. The store has said exclusive brands is one of its focus areas, and in 23 stores it has experimented with making the products more prominent with encouraging results on sales. 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. Lease extension and store upgrades have also been agreed for Myer Albury and Ballarat, while the refurbishment of Myer Karrinyup has commenced and is . Myer is Australia's largest department store and has been synonymous with style and fashion for over 100 years.