Welcome to Top Store

Best Products at Best Prices


No products in the cart.

Macy’s ramping up private brand growth



Macy’s has big ambitions for four of its strongest exclusive brands.

As part of its newly announced three-year plan, the department store giant said it is committed to a more “focused approach” to its higher-margin private brands business, with plans to build four $1 billion in-house brands. At its investor meeting in New York City, Macy’s identified the four brands as Charter Club, Style & Co., International Concepts and Alfani. The company also said that it is on track for its private brands to make up 25% of sales by 2025.

Macy’s new push comes as other retailers, including Kohl’s, have been expanding their private-label offerings — and not just in apparel. On Wednesday, Target unveiled its latest offering, a “premium” luggage brand called Open Story. It features nearly 40 luggage and accessory items ranging from $19.99 to $179.99, with a lineup that includes backpacks, garment bags, packing cubes and sleek-looking luggage in such stylish colors as violet and cedar. 

In line with its plans, Macy’s said it is implementing a new private brand sourcing strategy that is expected to reduce costs and improve speed.


Source link