Myer

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Myer
Type of Company Department Store
Founded 1900
Headquarters Melbourne, Victoria
Industry Retail
Products Clothing, footwear, accessories, cosmetics, homewares, electrical, furniture, general merchandise
Slogan Myer is my store
Website http://www.myer.com.au/
Myer Emporium, Melbourne flagship store. Lonsdale Street facade
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Myer Emporium, Melbourne flagship store. Lonsdale Street facade
Myer Emporium. Bourke Street Mall facade
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Myer Emporium. Bourke Street Mall facade
Myer - Wagga Wagga store
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Myer - Wagga Wagga store
This article is about the department store. For other users, see Myer (disambiguation).

Myer is an Australian chain of department stores founded in 1900 by Sidney Myer, in the regional Victorian town of Bendigo. It is now Australia's largest department store brand, retailing a broad range of merchandise including women's, men's & children's clothing, footwear & accessories; cosmetics; homewares; electrical; furniture; toys; books & stationery; and travel goods. In 1985 the Myer Emporium merged with GJ Coles & Coy forming Australia's largest retailer - Coles Myer Limited, however Myer remained a distinct entity within the new corporate structure.

There are 60 Myer stores located in all States and territories of Australia (except the Northern Territory). The largest store (and largest department store in Australia) is located in Melbourne and comprises two connected buildings - one facing Bourke Street and the other Lonsdale Street. Other major locations include Pitt Street Mall, Sydney; Queen Street Mall, Brisbane; Murray Street, Perth; and Rundle Mall, Adelaide. There are numerous suburban locations throughout these cities as well as many regional stores scattered throughout Australia.

Myer has a loyalty/rewards program called "MyerOne" which was introduced when the shareholder discount card was revoked. It currently entitles members and cardholders to 1 point for every $1 they spend in a Myer store. This program is due to change on 13 November 2006 when all cardholders will become members, and all members will earn 2 points per $1 spent. This will coincide with the reintroduction of the Myer store card.

In February, 2004, the Grace Bros. brand in New South Wales was replaced by Myer, although since the late 1980s, the two brands were owned by the same company and operated in exactly the same manner.

On August 17, 2005, it was announced by parent company Coles Myer that the Myer chain would be demerged, divested in a trade sale or a decision made to retain the business within the next 12 months. Thirteen expressions of interest have been made for all or part of Myer. Reasons for this decision were based on a strategic five year plan to see how the brand would fit. The supermarket and liquor brands within the group focus largely on volume sales and value for customers through aggressive marketing strategies. Coles Myer Ltd is the only retailer in the world to have added a full line department store brand to its holdings.

In late 2005/early 2006, the Myer Emporium, Bourke Street Melbourne city store underwent an extensive redevelopment to the basement of both the Lonsdale and Bourke street buildings. This included opening up the basement, some of which was previously used for storage, underneath both stores as well as Little Bourke Street. 'The Basement', as its known, has been redeveloped with young people in mind, including an extensive list of major hip fashion designers and also some less known brands in a fun and quirky environment. The basement has an industrial atmosphere with modern music played throughout and casually dressed staff in line with the new design.

On Monday 13th of March, 2006, Coles Myer Limited announced it would sell Myer to a consortium including the Myer family, whom hold a 5% stake, which is largely controlled by US private equity group Newbridge Capital, part of the Texas Pacific group. The new owners, who have also secured the freehold on the flagship Bourke Street store, have indicated that they will not radically change the business, at least in the short term, and have no plans to redevelop the Bourke Street site as this would impact too heavily on profitability during the construction period. Texas Pacific also have interests in UK department store Debenhams and high-end US retailer Neiman Marcus. Management expertise from these retailers will be used to refine Myer's approach. This sale was completed on the 2nd of June 2006.

On Friday 31st of March, 2006, the Myer store located in Carlingford Court (NSW) closed and will be replaced with a Target store. [1]

On Friday 21st of July, 2006, it was announced that the Myer store located in Westfield Burwood will have it's lease taken over by retailer David Jones which will open it's doors for trade in April 2007. David Jones will pay Myer a $20 Millon AUD handover fee for the store. [2]

Contents

[edit] List of stores

[edit] New South Wales

[edit] Australian Capital Territory

[edit] Queensland

[edit] Victoria

[edit] South Australia

[edit] Western Australia

[edit] Departments

[edit] Womenswear

This is the most important department in Myer stores. It is usually prominently featured within each store and will often be the largest. Myer considers it to be so important because not only does it make a large percentage of sales it also has the most prestige. When considering the class status of a store, the fashion labels it carries is an oft used indicator. Since Myer carries various mid to high end designer labels in womenswear, it helps to increase the prestige of the Myer name. Some of the labels stocked in this department include:

  • International designers DKNY, D&G, Stella McCartney, Valentino, Marc Cain, Tara Jarmon, (cacharel)
  • Australian designers Leona Edmiston, Gorman, Camilla & Marc, Kate Sylvester
  • Lacoste, Fred Perry, Tommy Hilfiger, Jag
  • Country Road, Cue, Charlie Brown, Carla Zampatti, David Lawrence, Review, Sportscraft
  • Esprit, Levis, Seven for all Mankind, Juicy Couture, Cooper St, Wish

[edit] Cosmetics, Fragrances & Personal Care

Although womenswear is considered more prestigious, cosmetics generates the most of the company's revenue. However, it also has a higher expenditure on labour as each counter requires its own staff. This cost is subsidised by most major cosmetics companies, sometimes up to 100% of the cost during promotions. This department is usually positioned at the main entrance to the store as it has a good "impulse buy" rate, but such a position also greatly increases the theft. Myer stocks an extensive range of fine fragrances, and most cosmetic brands, including:

[edit] Menswear

Myer is considered to be "famous for" its menswear department as well. Usually located on a separate floor to womenswear, the labels carried lie much more in the mid range. Unlike womenswear, the department has areas devoted to Accessories, Business Shirts, Suits, Shoes and Underwear. The young men's department is attached to menswear but has different visual merchandising and fixtures. Labels include:

[edit] Fashion Accessories

Also known as ladies accessories, this department houses women's handbags, scarves, hats, belts, purses/wallets, jewellery, hosiery; women's & men's watches and sunglasses. It contains some very high end labels. These include:

[edit] Ladies Shoes

This is one of the busiest departments due to women trying on multiple pairs of shoes at a time, leading to large queues for service. Some stores have a large range but some stores only carry basics. Labels stocked include:

[edit] Homewares

Inludes kitchenware, tabletop (crockery), manchester, glassware, napery, frames & clocks. Usually extremely busy during sales, this department also contains the bridal registry. Brands include:

  • DKNY bedlinen and towels
  • Missoni towels and tabletop
  • Versace tabletop
  • Royal Doulton tabletop and glassware
  • Wedgwood tabletop and glassware
  • Swarovski tabletop and glassware
  • Country Road bedlinen, towels, tabletop and glassware
  • Vue kitchenware, tabletop, bedlinen, towels and glassware
  • Heritage bedlinen, towels and napery
  • Sheridan bedlinen and towels

[edit] See also

[edit] References

[edit] External links

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