One of our favorite bottom-line-friendly department stores—Macy’s—has announced a deal with Tommy Hilfiger that will make them the exclusive department store retailer for the designer giant by the fall of 2008.
Hilfiger sportswear for men (and women) already retails at Macy’s, of course, but the new deal gives them exclusive rights, so current retailers like Dillard’s and Belk will be phasing out the designer’s lines.
What this means for Hilfiger: A chance to rebuild brand power in the US.
What this means for Macy’s: A brand coup like this is nothing more and nothing less than a smart way to grow the department store’s retail market with the power of name-recognition. It’s just good business.
Most importantly, what this means for us: It’s just further evidence of the power of our retail dollars in an increasingly competitive fashion market. Mid-level retailers like Macy’s continue to find ways to join forces with major brands and designers in order to attract fashion-savvy and budget-conscious shoppers. Like us.
photo from Forbes.com
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