Sears Canada's reinvention goes off-price
Department store operator Sears Canada Inc’s reinvention is in full swing and has taken a surprising turn. Following the launch of a new brand image in late 2016 including a new logo and catalogue, the struggling retailer is rolling out an all new Sears private label product line up and off-price offering, baptized The Cut @ Sears. “We started on our reinvention path last year when we focused on a dramatic refinement to our product selection, to achieve a simple value proposition for consumers – high quality at a low price, and our Sears label essentials and The Cut @ Sears achieves this in a big way,” explained Brandon G. Stranzl, Sears Canada’s Executive Chairman, in a news statement. The new product offering makes Sears Canada the only nationwide retailer to offer both retail strategies - off-price business and a mono-brand - all in one store.
The Cut @ Sears offers fashion finds and home décor for 30 to 60 per cent off the regular ticket price. Featuring men's, women's and children's apparel, home décor and housewares, new products hit stores weekly and are sourced by buying teams based in Toronto, Montreal and New York. Online, shoppers can find designer brands such as Catherine Catherine Malandrino, Guess, Tom Ford, BCBG and more. The product line-up is being tested in all Sears Canada stores and online at sears.ca, as well as at a Pop-Up Shop in Toronto's trendy Queen West neighbourhood. "This Pop-up shop shows the savvy, fashionable and cost-conscious urban Toronto shopper that we are a hot NEW destination with great-quality merchandise and amazing prices,” added Stranzl. The Sears Canada Pop-Up, located at 322 ½ Queen Street West, reflects the company's new Sears concept stores, which launched at select Ontario locations this past fall. Branded with the slogan #weveCHANGED, the pop-up seeks to engage Canadians and challenge any pre-conceptions they may have about the retailer. Stranzl said that the line has been in stores for a few months as part of a soft launch and that the results have been encouraging. "Off-price retail is a hot trend across Canada," Stranzl said. "It allows us to extend our mandate to provide customers some of the best known designer brands in the world at the most affordable prices […] This is a pivotal move for the Sears Canada business." Sears has been in Canada since 1953. Despite years of financial pressure, the retailer has been driving strategic initiatives to reinvigorate the brand across all lines of business and has remained committed to its reinvention.