The company continues to develop licensed department partnerships with selected best-in-class retailers to add new merchandise categories and associated service support to Macy’s stores in a manner that attracts customers, enhances their shopping experience and increases sales productivity, both in-store and online.
Licensing is a strategy that has proven highly successful for Macy’s in recent years with retailers such as Sunglass Hut, Finish Line and Destination Maternity.
In 2015, we added several new examples that will unfold in 2016 and the years ahead:
- The company announced an agreement to bring the LensCrafters optical retail experience to as many as 500 Macy’s stores over the next three years. Using a model proven successful with its sister Sunglass Hut, LensCrafters will now be the exclusive optical retailer of Macy’s and the first optical retail brand to expand nationally in a major department store. Macy’s will be the exclusive department store host of LensCrafters shops. LensCrafters opened its first new Macy’s location in April 2016, with the goal of opening approximately 100 locations by the end of the year. The stores feature a new design concept created specifically for Macy’s customers, offering top fashion and luxury eyewear from brands including Ray-Ban, Oakley, Prada and Armani. Each department will be staffed by a LensCrafters-affiliated optometrist, offer the industry’s most advanced eye care equipment and leverage the brand’s existing lab network to ensure the highest level of service.
- Macy’s signed an agreement with Men’s Wearhouse to open licensed tuxedo rental shops within 300 Macy’s stores nationwide, with the first pilot locations opened in fall 2015. These Macy’s-branded shops will be operated by Men’s Wearhouse and staffed by its trained formalwear professionals in dedicated space located in or near the men’s department in Macy’s stores. They will be fully integrated in Macy’s storewide wedding experience, and support Millennial merchandising strategies related to proms and other special occasions.
- Macy’s began testing Best Buy licensed consumer electronics departments of about 300 square feet in 10 of its stores in late October 2015. The space is staffed by Best Buy employees and features Samsung smartphones, tablets and smart watches, as well as audio components (including Bluetooth speakers and headphones) and accessories (including cases, chargers and other peripherals) from Samsung and other brands.