These are brands owned by a separate company but only distributed in Australia through one of the big two. . "We see good growth for those brands in this market. Peter Rae. The majority of the brands will be international labels including Selected Femme, Selected Homme, Oasis, Warehouse and Twisted Tailor. The private label brands, or MEBs, have helped Myer differentiate its offer from David Jones and Target and have been a key driver of sales and margin growth over the past few years, with sales reaching $638 million, or 20 per cent of group sales, in 2014. How Activating Brand Purpose Mobilizes Consumers and Galvanizes Free Click & Collect. Learn about investing with our Investing Education hub. David Jones and Myer will be changing the brands on offer to customers over the next five years. The top 10 drugs losing US exclusivity in 2022 | Fierce Pharma 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. 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. But depending on how they roll out their new strategies, they could pull off a turnaround in five years.. There was an error submitting the form. Myer targets customers through digital and data in $600m - CMO 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. "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. In the future there will be less brands you know and more brands youve never heard of. Australia's Myer Lifts First Half Profit - WWD Myer Exclusive Brands (MEBs) mix as well as lower promotional markdowns and shrinkage. By continuing to use our site you are agreeing to our. 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. . All times AEST (GMT +10). 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. Lancme Absolue Soft Cream Collection 2023 | MYER 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. This logo can still be seen at some locations. In David Jones, Studio W and Re: are brands owned by the firm's ultimate owner, South Africa's Woolworths Holdings.
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