David Jones, Myer: Department stores look to increase private label Eli Greenblat May 16, 2011 12.00am Save Share Normal text size Larger text size Very large text size 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. Total comparable store sales grew by 0.4 per cent when excluding Apple and Country Road Group sales. 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. He was reluctant to offer a long-term outlook but said the virus was a potential cashflow opportunity in the short term. 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. Its next results are due out in September. We respectfully acknowledge the Traditional Custodians of the land where we live and work and pay our respects to all Elders, past and present, of all Aboriginal and Torres Strait Islander nations. Search for product or brand Clear. While Myers private-label brands grew by 3.7 per cent, sales of its branded ranges fell by a similar amount. Find your type. 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. Peter Rae. Catalogs | Myers Tire Supply Sales of 'Myer Exclusive Brands' or private labels, however, declined 12 percent to 300.2 million Australian dollars, or $226 million. . Until 1970, Myer did not use a proper logo. Australia; Newsletters 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. Mar 17, 2023 11:45am. . While own brand is not new in department stores, they have taken longer to double down on private label compared with supermarkets. Join our flagship membership service, Share Advisor. "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. Myer - Baby Name Meaning, Origin, and Popularity | Nameberry Mothers Day 2023: 30 gift ideas to treat mum. Become a MYERone Member Today & Earn 2 credits for every $1 spent at Myer. Please try again later. 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. Rhys Brock, The Atomos (ASX: AMS) share price has surged 15% this week. Discover legendary Absolue this Mother's Day in a profusion of joyful gold and an exclusive blend of Grand Rose extracts. 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 . In March, Myer reported a small underlying jump in profits to $41.2 million. But other categories, well, he wasnt so sure. There are reports the business could be bought in a multi billions dollar deal after it first landed on Aussies shores back in 1977. You can also tailor your product to fit the market.. WELCOME TO MYER PROPERTIES. 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. Myer | Logopedia | Fandom To join the conversation, please 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 | There was an error submitting the form. 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. 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. 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. Sportscraft is an iconic and loved Australian brand and we are excited to partner with David Jones exclusively," APG&CO chairman Peter Halkett said on Friday. Indeed, DJs fancy new shoe heaven floor at its Sydney CBD flagship store boasts Jimmy Choo, Louboutin and Balenciaga. Upgrades are also planned for the Albury and Ballarat stores. The Motley Fool Australia operates under AFSL 400691. log in. Subscribe for free to get the latest breaking news and analysis sent to your inbox. 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. Familiar. 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 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. Rhys Brock, It's been a volatile year so far for the Aussie nursery retailer. Join Our Premium Community 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. The companys dividend continues to be suspended. PDF Annual Report 2019 "Piper is a good private label brand but we may have extended it into too many sub-categories [and] the same could be said of Basque.". In David Jones, Studio W and Re: are brands owned by the firms ultimate owner, South Africas Woolworths Holdings. Myer Careers and Employment | Indeed.com Myer reveals new sport-focused, "department store first" concept Both chains have insisted big names will still play a critical role in their stores. A place loved by all and once you've . Department stores' identity crisis. We are being more aggressive in terms of responding. The brand is very customer centric and the stores offer exclusive brands and high quality services. Take a look at the top gifts she will love. By continuing to use our site you are agreeing to our. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. Walking into one of these stores today isnt a very exciting prospect for consumers today. 4 Letter Boy Names. you'll receive an exclusive Myer birthday discount of $15-$30. 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. Join the conversation with your fellow The New Daily readers and see their replies. Please remember that investments can go up and down. OFF. 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. All. 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. Over the next five years, Woolworths plans to continue boosting sales of private-label and exclusive brands to differentiate David Jones from Myer. The staff discount applies to full price and discounted merchandise: 20% off any brand exclusive to Myer.