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. Our friendly customer service team will happily get back to you as soon as they can. 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. Going forward, theyre expected to continue increasing their private label brands, which will also help with things like purchasing costs.. 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. Contact Details: Join the conversation, you are commenting as. 13 April, 2017 12:52. In with the new Myer is promising new brands and better service to reinvigorate its fashion business. Total comparable store sales grew by 0.4 per cent when excluding Apple and Country Road Group sales. We respectfully acknowledge the Wurundjeri people of the Kulin Nation, the Traditional Owners and Custodians of the Country on which Eastland resides. Theres just so much competition with discount department stores and other specialty retailers finding their niche, so theyll struggle. Amgen cuts 450 workers, cites drug pricing pressure and inflation. 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. Names that Peaked in 1912. 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. Follow the topics, people and companies that matter to you. Sebastian Bowen, News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January. 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. Over time they had become tired, dated and had lost relevance with consumers. Help using this website - Accessibility statement, women's fashion floors following a $400 million refurbishment. In with the new Myer is promising new brands and better service to reinvigorate its fashion business.Credit: Eddie Jim. The chief executive of Australia Post has revealed the extreme challenges that lie ahead as the organisation struggles to turn a profit. "For us, it's about replacing it with more profitable products.". . 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. How Myer plans to reinvent its fashion business. Retail outlets in Australia; Bendigo, Victoria; Victoria; Australia; 1900 . Name Generator. 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. Ms Do said the shift towards more exclusive brands will mean less overlap between the two and other retailers, giving each retailer its own clear product offering. 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. You can also tailor your product to fit the market.. But other categories, well, he wasnt so sure. Boy Names Ending in -er . Subscribe for free to get the latest breaking news and analysis sent to your inbox. 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. Mr King said the company would continue to push online sales as the coronavirus threatened to keep people at home. For a lot of these new international brands it will be the first time that they are available in a physical retail store within Australia. Myer and David Jones are also busily signing up exclusive brands. Add articles to your saved list and come back to them any time. But depending on how they roll out their new strategies, they could pull off a turnaround in five years.. Having exclusive and well-designed private-label brands reduces the need to discount products. All rights reserved. View Myer's Tire Supply selection of tire repair supplies, tire valve and hardware, tire patches, tire changing tools, equipment and back shop supplies. I want a Samsung TV, not a Myer TV, said Mr Mortimer. Find out more about our policy and your choices, including how to opt-out. Email: [emailprotected] The Hornsby store closed in January while refurbishments have commenced at the Myer stores in Cairns and Karrinyup, underpinned by significant landlord contributions. Our interactive flipbook versions work on mobile phones, tablets and PC's. Chief executive John King said shoppers were already steering clear of the shops before virus fears emerged, with general footfall subdued for most retailers. Please try again later. For apparel brands Basque, Urbane, Soho and Blaq we developed logos and visual languages to talk to niche consumers. Rhys Brock, It's been a volatile year so far for the Aussie nursery retailer. Stripping these costs out, net profit climbed 0.4 per cent to a still-underwhelming $41.5 million. 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 you'll receive an exclusive Myer birthday discount of $15-$30. "As part of the Customer First Plan, Myer is constantly reviewing every aspect of its brand and product mix to ensure we are adding new, exclusive, productive and in-demand brands to our stores and online," a Myer spokesman 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. Myer is undergoing the biggest pivot in four years by introducing new brands and honing its customer focus in a bid to resurrect its fashion business. and exclusive brands were underway but would . Both chains have insisted big names will still play a critical role in their stores. Become a MYERone Member Today & Earn 2 credits for every $1 spent at Myer. $10. 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 flagship membership service, Share Advisor. Nationwide News Pty Ltd 2023. 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. Eli Greenblat May 16, 2011 12.00am Save Share Normal text size Larger text size Very large text size WELCOME TO MYER PROPERTIES. 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. 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. Private label is a way to ensure shoppers have to walk through the door or head to your website to buy the product. It means retail 101 and what that means is constantly introducing newness and looking at whats not working and improving the execution for customers. 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. A place loved by all and once you've . Learn about investing with our Investing Education hub. 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. Were sorry, this feature is currently unavailable. Mr King also said the supply chain impact of the coronavirus was being managed by teams in Hong Kong and Shanghai. Egg farmers play down threat from cane toad of salmonella. 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. from Denmark and Rodebjer, that exemplify the "modern Scandinavian" trend that's dominating the fashion world. And despite leaching several brands to its main competitor, David Jones, Myer has secured Australian labels including Hansen & Gretel, Atoir, Husk, and Pfeiffer. Tweet. document.getElementById( "ak_js_11" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_12" ).setAttribute( "value", ( new Date() ).getTime() ); For further insight into how best to prepare your business, fill out the form below to book a complimentary 30-minute Strategy Call with myself, Grant Davidson. During the second half, a major upgrade of the Sydney City ground floor and atrium will begin. But if you walk into a Mecca or Scotch & Soda store youre feted and given attention, and dont feel like youre a hindrance.. 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. Myer Price/Pricing Strategy: Below is the pricing strategy in Myer marketing strategy: Myer stores offer products . Copyright 2023 The New Daily. Our latest articles and strategies for the post-work life you want. Sales of 'Myer Exclusive Brands' or private labels, however, declined 12 percent to 300.2 million Australian dollars, or $226 million. You cant touch cosmetics and not electronics either. TO MAKE THE WORLD Investment news, stock ideas, and more, straight to your inbox. It has 67 stores in prime retail locations across Australia. Were sorry, this feature is currently unavailable. As a result, the company is planning to extend its private-label range to include footwear and accessories to . However, what is considered a private label is becoming a grey area. 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'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. 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. "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. document.getElementById( "ak_js_14" ).setAttribute( "value", ( new Date() ).getTime() ); Fill out the form below and click the 'Download Now' button to read the full report on RETAIL OF THE FUTURE. 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. He was reluctant to offer a long-term outlook but said the virus was a potential cashflow opportunity in the short term. . Private label is set to play a far bigger role in the Myer and David Jones stores of the future. 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. "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. Sign Up for Take Stock log in. Are you looking for. Please try again. Join Our Premium Community 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. Neutral Boys. Get Deal . "We will invest to grow Myer exclusive brands, with broader assortments and extensions to additional categories. 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. Secondly, the department store is going to focus more heavily on its 'Only at Myer' branded category. 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. 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. Take a look at the top gifts she will love. Free Delivery Over $99* Order By May 3 For Mother's Day. We also have a tradition of providing customer entertainment through vibrant in-store theatre from glamorous fashion parades, to appearances by much-loved children's characters, celebrities and sporting personalities. There are reports the business could be bought in a multi billions dollar deal after it first landed on Aussies shores back in 1977. 0. 6 OUR CUSTOMER FIRST PLAN ' ' 10 The brand is very customer centric and the stores offer exclusive brands and high quality services. 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. Brands. Retailers have been out of favour with investors for a few years now, although that has changed recently. 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. The head-first dive into own brand is being steered by another factor the weakening control department stores have over big international names. In a presentation to investors today, Myer CEO, Richard Umbers, detailed the retail group's 'New Myer' strategy, outlining four key pillars for turning the business around: Customer-led offers, wonderful experiences, omni-channel shopping and a productivity step change. 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. In Myer, own brands include Basque, Milkshake and Vue. The retailer owns or stocks 66 MEBs after buying several distressed brands, such as Trent Nathan and Charlie Brown, and developing in-house labels. The Movement at Myer concept will cover all aspects of sport for men, women and kid's lifestyle, fashion and footwear needs. Myer did not have a sales mix target for private label and national brands, Mr Bracken said. Sign In / Join. Myer has also shuttered its clearance floor concept and is targeting another 73,000 square metres of reduced floor space in coming years. "It's very similar to what David Jones went through and our brands in David Jones have had fantastic growth since then.". 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. How Activating Brand Purpose Mobilizes Consumers and Galvanizes Teammates to Drive Positive Societal Change April 27, 2023. 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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. 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. We are also focused on growing brands where we have seen a strong response through spring. 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 . Categories. It also helps drive foot traffic, which can boost cross sales., N O ONES GOING TO BUY A MYER-BRAND SUIT. Women's: Veronica Beard, Ba&sh, Paper London, Lorna Jane, Warehouse, Forever New Curve. Under the terms of the deal, the ASX-listed department . As OrotonGroup (ASX: ORL) and Premier Investments (ASX: PMV) via their Smiggle brand have learned, there are salivating profits to be made. Girls. The platform will also feature gym . 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. 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. 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. It has 67 stores in prime retail locations across Australia. 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. 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. "We see good growth for those brands in this market. 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. The majority of the brands will be international labels including Selected Femme, Selected Homme, Oasis, Warehouse and Twisted Tailor. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. 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). We are being more aggressive in terms of responding. This includes Woolworths Country Road Group brands, she said. Luxury brands, Department stores, and 5 more. The companys womenswear segment was cited as a particular disappointing during the first half, especially in brands exclusively stocked by Myer. The collection will also include a comprehensive addition to the plus sized collection, including ONLY Carmakoma, Tokito Curve, Rebel Wilson and Juna Rose. 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. "We will invest to grow Myer exclusive brands. Department giant Myer has reported a 37 per cent drop in first-half profit, weighed down by restructuring cost, redundancies and the exit of Apple products and Country Road Group brands. 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 . Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. Join the conversation with your fellow The New Daily readers and see their replies. 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. While they still face some headwinds, better days could lie ahead and their dividend yields offer added appeal. The Motley Fool Australia operates under AFSL 400691. Indeed, DJs fancy new shoe heaven floor at its Sydney CBD flagship store boasts Jimmy Choo, Louboutin and Balenciaga. The majority of the brands will be international labels including Selected Femme, Selected Homme, Oasis, Warehouse and Twisted Tailor. These are brands owned by a separate company but only distributed in Australia through one of the big two. Myer has just re-signed Elyse Knowles as ambassador, with more talent set to join. 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. Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article. The staff discount applies to full price and discounted merchandise: 20% off any brand exclusive to Myer. Please remember that investments can go up and down. 1 use today . Myer is Australia's largest department store group, and a market leader in Australian retailing. Myer is clearing private label brands such as Piper, Regatta and Basque to make room for new labels in a reversal of the retailer's profit growth strategy over the past few years. Myer is Australia's largest department store group, and a market leader in Australian retailing. Get The New Daily free every morning and evening. "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.". Dominic Lorrimer. Image: Wikimedia. In Myer, own brands include Basque, Milkshake and Vue. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. Myer is Australias largest department store and has been synonymous with style and fashion for over 100 years. All rights reserved. Let's look at what's ahead as the company build, February 8, 2021 | Please try again later. The homewares brand Vue involved design, photography and artwork for over 300 SKUs across 30 product categories, produced in 12 countries. Upgrades are also planned for the Albury and Ballarat 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 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. Register, Join the conversation, you are commenting as Logout. Popular. Myer Mega Brand Sale: Women's clothing from top brands for 25-30% off. "They have a lot of brands in their stable that just don't resonate with their customers," he said. 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. We take a closer look, August 14, 2021 | 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 While Mr King pledged to end the . Learn More. 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. This set is valued at $1000* includes: Absolue Soft Cream 60ml. 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. We will build destination categories such as accessories, and exit selected categories where Myer is less profitable," King . We pay our respects to Elders past, present and emerging and acknowledge the continuing connection to land, water and community. There was an error submitting the form. Free Click & Collect. 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. 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 . 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 | 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. 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. . 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. [Its a chance to] de-stock and refocus on inventory and what we really need, he said. 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.. Subscribe for free to get the latest breaking news and analysis sent to your inbox. Australian fashion designers are not the only losers in Myer's brand cull. 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. 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. Hear our experts take on shares, the market & how to invest. 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. You can do it. People are generally tight on spending but on Black Friday they do come out, Mr King said in an analyst call on Thursday. "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. 10% off Electrical, Jewellery, Food and Furniture. Myer struck an agreement to acquire the two brands from the administrator for an undisclosed sum on 12 April. 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 Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. David Jones and Myer will be changing the brands on offer to customers over the next five years.

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