Macy's Signs Exclusive Deal for Ellen Tracy Sportswear
NEW YORK--(BUSINESS WIRE)-- Macy's, Inc. (NYSE: M) today announced it has signed a strategic alliance agreement with the Ellen Tracy owner, Brand Matter LLC, and its sportswear licensee, RVC Enterprises, under which Macy's will be the exclusive department store retailer of Ellen Tracy branded women's sportswear, beginning in spring 2010.
Under this agreement, Macy's will offer its customers an exclusive array of Ellen Tracy better sportswear focused on modern, related separates. This will include jackets, shirts, pants, sweaters, woven tops, knit tops and bottoms. Price points, for example, will be in the range of $99 to $149 for jackets and $50 to $99 for pants.
The exclusive sportswear will launch in more than 100 Macy's stores and online at macys.com in March 2010, with plans for additional rollout over time to additional stores. The launch will include new Ellen Tracy shops in Macy's largest flagship stores - Herald Square in New York, Union Square in San Francisco, State Street in Chicago and Dadeland in Miami. The two companies will work closely together on new ventures and brand extensions for the future.
"Ellen Tracy is a legendary brand that is well-known to our customers and backed by an outstanding design team. In particular, Ellen Tracy delivers exceptional value to women who expect quality and want a relevant look for today's world at work and on the town," said Jeff Gennette, Macy's chief merchandising officer. "And coming next year, Ellen Tracy will provide another powerful reason for customers to shop at Macy's. Ellen Tracy will join other exclusive brands at Macy's, including Tommy Hilfiger, Martha Stewart Collection, Rachel Rachel Roy and Donald Trump."
"My team and I are thrilled to bring the Ellen Tracy heritage and style to a more accessible pricepoint. We look forward to entering, building and eventually becoming one of the leading brands in the better department," said Mark Mendelson, president and CEO of the Ellen Tracy division of RVC.
Bill Sweedler, co-chairman and CEO of Brand Matter, added, "We are excited to form this long term tri-partnership with RVC and Macy's. Macy's is the preeminent national department store in the United States and we believe that the Ellen Tracy brand will add significant accretive sales to the better sportswear floor."
About Brand Matter
Brand Matter is a diversified brand management and operating company that specializes in the acquisition, development and licensing of consumer-branded intellectual property. Properties owned include Ellen Tracy, Company Ellen Tracy, Caribbean Joe, Havana Jack Cafe, CJ Breeze, La Cabana, and Jamaica Bay. We invest in Brands that maintain a positive emotional connection with consumers. Additionally, we offer strategic guidance in the full spectrum of brand building, marketing and licensing to such world-class brands as Field & Stream, Halston, Joe's, Haspel, The Bombay Company and Linens N Things. Guided by our expert team, Brand Matter serves as the catalyst to increase brand value through innovation, marketing, product extensions and licensing partnerships. We manage and market the licensing of our owned and affiliated brands with best-in-class manufacturers, wholesalers and retailers. See www.brand-matter.com for more information.
About Macy's, Inc.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2008 sales of $24.9 billion. The company operates more than 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and bloomingdales.com. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc.
All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.
(Note: additional information on Macy's, Inc., including past news releases, is available at www.macysinc.com/pressroom)
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Source: Macy's, Inc.
Released October 5, 2009