Womenswear haul at Myer in bid to turn the tide

Myer Melbourne
Myer recently disclosed a stagnant sales period (Source: Bigstock)

Stagnant department store retailer Myer has “revitalised” its womenswear offering in an ongoing bid to change its fortunes.

Myer recently revealed a weak first half of the fiscal year to the ASX, one which it blamed on low consumer confidence. This earnings report included a small, 0.3 per cent lift in revenue over six months.

It was the latest update in a challenging period for Myer. The retailer is also battling a $48 million problem with its national distribution centre in Ravenhall, Victoria.

Investors have responded to these issues, with Myer’s stock price falling by nearly 55 per cent in the past 12 months.

But executive chair Olivia Wirth is continuing to push forward in the company’s efforts to revive itself. The new, 25-brand addition to its womenswear range is centring its focus on the younger consumer.

Four of these brands will join as exclusive to Myer, including Acler and Effie Kats. The remaining brands include Significant Other, Oroton, and Nude Lucy.

“We have completely revitalised our womenswear department, introducing a highly curated mix of sought-after Australian and international labels, alongside a comprehensive reset of our five signature Myer exclusive brands,” Myer chief merchandise officer, Belinda Slifkas, said. 

“This season, we’re delivering a dramatic step-change in premium, contemporary fashion while proudly remaining true to the heritage brands that our loyal customers love.”

The focus on premium labels follows Myer’s overhaul of its beauty offering, which began with the ending of its 17-year partnership with Mecca. This expansion has seen the retailer similarly announce a line-up of premium brands along with the construction of a flagship beauty hall in its Sydney department store.

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