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July 30, 2009
Saks Fifth Ave Embraces House Brand Naming (But Doesn't Want to Admit It)
Saks Fifth Avenue is embracing the house brand concept with a new line of menswear called The Men's Collection. This means that House Brands have moved from the fluorescent universe of 7-11 and Walmart to the well-heeled world.
But Saks is avoiding the term "house brand" because it is "too lowbrow" according to the Wall Street Journal's Christina Binkley.
However, house brands are good enough for Macy's and Nordstrom's, in addition to many top UK brands.
The new Saks line will compete with brands that have become exorbitantly expensive in recent years and have also found the audacity to open competing stores (that's you, Gucci).
Bloomingdale's is also following suit by offering "Bloomingdales: The Men's Store," with labels priced at 30% or even 40% less than designer labels. This makes them interesting bargains for those who can't live without Saks and Bloomies, but can't afford their more expensive price tags.
Saks has had private label brands before and discontinued them, but this move is clearly meant to retain customers who are strapped for cash, but still desire that Saks cache.
Although this move makes great sense for today's economy and for future business. In fact, Circuit City's own house brand, firedog, may be worth $14 million more than the Circuit City brand itself.
It seems that the low prices and comparable quality of house brands, has given them a unique place in today's current economic climate.
Technorati Tags: House Brand Naming, Saks The Men's Collection, Private Label Names, Circuit City Firedog
Posted by William Lozito at July 30, 2009 10:36 AM
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Apparel
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Brand Naming
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Branding
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Fashion
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Industry
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Marketing
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Naming
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Retail
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