Outside of Terry J. Lundgren’s cavernous office 13 floors above the hustle and bustle of Macy’s Herald Square flagship is nailed a silver-framed plaque with the words “Chief Customer Officer.” What could come across as a little corny is actually a daily reminder for Lundgren—whose official title is chairman, chief executive officer and president of Macy’s Inc.—of his commitment to continually improving Macy’s shopping experience as well as its bottom line. It’s a broad-sweeping vision, but Lundgren is used to painting with bold strokes. In 2005, he acquired longtime competitor May Department Stores Co. for approximately $17.3 billion. Today, Macy’s is the solid number-one retailer in terms of U.S. prestige beauty sales, and Lundgren and his executives are hard at work at bringing the buzz (and a younger customer base) back to its stores. The team recently sat down with WWD Beauty Inc’s Pete Born and Molly Prior to reveal the multipronged strategy. Read about it in “Harnessing the Might of Macy’s” on page 26.
With estimated sales of over $1 billion (versus Macy’s $23 billion-plus), flash- sale Web sites are still but a tiny piece of the retail pie. Their growth over the last four years has been supersonic, however, attracting an affluent membership base and the brands that love them. The format—in which desirable goods are sold at a discount for a limited period of time, usually 36 to 48 hours—has proved problematic for beauty, a category in which discounts are akin to heresy. In “Instant Gratification?” on page 32, I spoke to the leading sites as well as myriad industry execs for insight on how the channel might evolve for beauty.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)