Macy's targets millenials with new brands
NEW YORK — Macy's is hoping to entice the coveted 13- to 30-year-old market with the launch of its millenial initiative.
The initiative involves the rollout or expansion of more than 20 brands for its Macy’s mstylelab (primarily serving customers ages 13 to 22) and Impulse (primarily serving customers ages 19 to 30) departments.
According to Macy's, the millenial generation, which is the largest and most diverse in America, is expected to spend an estimated $65 billion this year.
“We have identified Millennials as a priority customer for Macy’s, and we know that growing our relevance for this customer will start with product,” said Jeffrey Gennette, Macy’s chief merchandising officer. “Over this season and spring 2013, we will be introducing 13 new brands targeted to a cross-section of lifestyles, as well as growing those within our current portfolio that are already passion brands for this customer. This product investment and repositioning is the first phase of our millennial strategy and will help strengthen Macy’s credentials and credibility with this customer by offering them newness, fashion and innovation across product categories and lifestyles.”
Among the new brands launching at Macy's are:
Marilyn Monroe, launching March 2013 for mstylelab, featuring classic sportswear and screen tees, priced from $29 to $89;
Made Fashion Week, launching March 2013 for Impulse, feauturing dresses, knits and jackets for an average of $65 each;
Keds, launching spring 2013 for mstylelab, featuring clothing priced from $28 to $89; and
Blossom and Clover launching February 2013 for Impulse, featuring dresses, shorts, denim and jackets piced from $38 to $88.