David Jones has announced that exclusive labels Louis Vuitton, Chanel and Gucci would open in-store boutiques at its flagship Elizabeth Store in Sydney as part of its $200 million redevelopments.
The 180-year-old department store chain is bringing in luxury brands in an effort to counter the falling sales due to weak spending and consumers shifting to speciality retailers and online shopping.
Chief executive David Thomas has based the strategy on luxury brands, better customer service and a product that brings “the best of the world together in one place.” Department stores could still be relevant to consumers, he said, but had to play to their strength of being a “mall without the shopfronts” by offering a wide range of the best products, and customer service to match.
The Elizabeth store is undergoing renovation floor-by-floor, which is expected to be completed around late 2019. The $200 million redevelopments, funded by the $360 million sale of the chain’s Market Street store in 2016, will see it expanding from eight to twelve floors. The seventh and eighth floors will be converted into a champagne and dining room that will overlook a luxury shoe department. Louis Vuitton and Gucci will also open stores selling leather goods, ready-to-wear clothing and accessories on a ground floor luxury area. The two lowest levels will be converted to a combined homewares, food and dining area, based on the food concept rolled out at the company’s nearby Bondi Junction store.
Image and article source: https://www.smh.com.au/business/companies/chanel-and-champagne-david-jones-bets-luxury-will-revive-its-fortunes-20180620-p4zmn5.html
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