Nordstrom Cuts Prices And Increases Demography
Nordstrom is making an effort to reach out to its 20- and 30-something demographic by changing things up in their “Savvy” clothing departments. The new “Savvy” department is geared towards having more moderately priced clothing to better suit the budgets and spending habits of this target group. This change follows the move that Nordstrom made “last year to sell edgy, cheaper clothes from British chain Topshop, signaling a desire to go down-market to accommodate smaller budgets.”
The department is getting rid of some their high-end labels and replacing them with newcomers such as MinkPink, which is a label also found at Urban Outfitters. Labels like Haute Hippie and Robert Rodriguez have been moved to other locations. This takes the average price of the “Savvy” department from $150 to $50.
L Brands is now the new temporary name for Limited Brands. L Brands, also the parent of chains such as Bath & Body Works and Victoria’s Secret, is expected to announce a permanent name in a few months.
The retailer, in a filing with the Securities and Exchange Commission, said that the change of name is a part of a “planned transition process” that was required after its original chain of stores, The Limited, was sold to Sun Capital Partners. The sale which began in 2007 was completed in 2010.
This name change doesn’t affect shareholders.
A|X Lauches Neon Accessories
Although some areas are still fighting the winter cold and don’t believe spring will ever come let alone summer, A|X Armani Exchange is already prepping for long summer days.
The launch of Color Flash watch and sunglass collection are the perfect pops of color for summer. Watches will retail for $100 and sunglasses will go for $95. This collection will feature five matching neon colors and will launch in May. They’ll be sold online, in select department and specialty stores and at A|X stores. “To help drum up interest in the products, the company will host its fourth annual A|X Armani Exchange Neon Carnival during the Coachella music festival in California on April 13.”
– Jamie Wilson
Sources: The Seattle Times, The Columbus Dispatch, WWD; Image: The Seattle Times
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