Adding new brands is the "first phase" of a long-term "millennial… (Frank Franklin II / Associated…)
Department store chain Macy's Inc. is aggressively going after the millennial shopper.
The retailer plans to add 13 brands to its lineup and expand 10 others in the next year to court those between the ages of 13 and 30. Apparently these young consumers control some $65 billion a year in spending power.
The new brands -- which include Marilyn Monroe, Keds apparel and G-Star Raw -- will go into either Macy's mstylelab for 13-to-22-year-olds, or the Impulse section for those 19 to 30.
Macy's Chief Executive Terry J. Lundgren already emphasized earlier this year that attracting young shoppers of the Twitter, Facebook and Pinterest generation is a key focus.
"This is going to be the single biggest purchasing group, bigger than the baby boomers," he told the Global Retailing Conference in April. "We must be the place of choice for this consumer."
Adding new brands is the "first phase" of a long-term "millennial strategy," Jeffrey Gennette, Macy's chief merchandising officer, said in a statement.
Other efforts include in-store shops for Made, a rotating collection that highlights up-and-coming designers in the Impulse Department. It started in 2009 with a collaboration at New York Fashion Week and includes capsule collections of runway inspired pieces at an average price of $65.
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