Chinalco and Rio Tinto Acquire Controlling Stake in Brazil’s CBA for $903 Million 
Britain has almost 1 million young people not in work or education – here’s what evidence shows can change that 
Glastonbury is as popular than ever, but complaints about the lineup reveal its generational challenge 
Federal Judge Signals Possible Dismissal of xAI Lawsuit Against OpenAI 
Panama Supreme Court Voids Hong Kong Firm’s Panama Canal Port Contracts Over Constitutional Violations 
Apple Faces Margin Pressure as Memory Chip Prices Surge Amid AI Boom 
Why financial hardship is more likely if you’re disabled or sick 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
What’s the difference between baking powder and baking soda? It’s subtle, but significant 
Nvidia’s $100 Billion OpenAI Investment Faces Internal Doubts, Report Says 
SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz 
Saks Global to End Saks on Amazon Partnership Amid Bankruptcy Restructuring 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
U.S. Dollar Slides for Second Week as Tariff Threats and Iran Tensions Shake Markets 
South Korea Industry Minister Heads to Washington Amid U.S. Tariff Hike Concerns 
Office design isn’t keeping up with post-COVID work styles - here’s what workers really want 
Indonesia Stocks Face Fragile Sentiment After MSCI Warning and Market Rout 
Macy's has unveiled On 34th, its inaugural private label brand, as part of an ambitious strategy to revitalize its private-label offerings. With an agenda to introduce three more brands by 2025, the department store seeks to redefine customer-centricity in retail, following extensive consumer research. Named after its NYC flagship store, On 34th caters to modern women with diverse wardrobe staples available in stores, online, and on the Macy's app from August 17.
With the introduction of On 34th and the upcoming brands, Macy's aims to create a more customer-centric private label offering. The company conducted extensive research, including 100,000 online surveys, 35 days of digital community engagement, and in-store fit research, to develop a brand that resonates with modern women.
The On 34th collection includes wardrobe staples and unique pieces like a sequin skirt. It will be available in stores, online, and through the Macy's app starting August 17, 2023. The collection will also feature shoes, set to be launched in spring 2024. With over 750 SKUs, the prices for the On 34th collection range from $18.50 to $299.50, catering to sizes from XXS to 4X.
Nata Dvir, Chief Merchandising Officer at Macy's, stated, "We have spent the last two years listening to customers and creating a brand that reflects how women want to dress for modern life." The company aims to deliver on its promise of quality, style, and value through its reimagined private brand portfolio, one of Macy's five growth vectors.
While Macy's faces challenging times, having reduced its full-year outlook due to reduced consumer spending in the first half of the year, the introduction of On 34th marks an opportunity for the company. Macy's private brand portfolio is expected to account for approximately 16% of brand sales this year, with long-term plans to reach a level similar to its historical high of 20%. In addition to the new brands, Macy's plans to refresh or replace other brands in its portfolio within the next two years.
Emily Erusha-Hilleque, SVP of Private Brands at Macy's, emphasized the development of unique and relevant product designs that align with brand DNA and incorporate multiple points of inspiration, data, and the intuition of a talented team. Macy's private label reimagining is a pivotal moment for the company as it strives to adapt to evolving customer preferences while maintaining its legacy as a leading retailer in the industry.
Photo: Ash Cook/Unsplash
