The Macy’s reorganization is all over the news, punch it in Google and you will literally get thousands of hits, most of them referencing this Business Wire story. Unfortunately cutting 7,000 jobs in this economy is just another story in a long list of job cuts. This cut will include 40% of its executive staff, its divisional structure and the New York-based Macy’s Home Store and Macy’s Corporate Marketing divisions.
The key Private Brand piece of news in this announcement was that Timothy Adams, the current chairman and chief executive officer of Macy’s Home Store, will become chief private brand officer. The New York-based Macy’s Merchandising Group will be refocused exclusively on the design, development and marketing of Macy’s portfolio of Private Brands.
According to the Macy’s website: Adams joined MCH as chairman in July 2005 after serving as chairman of the Macy’s Florida division since April 2001. For the previous five years, he was president of the former Bon Marché (now Macy’s West) division, based in Seattle, WA. Adams began his retail career at Macy’s in Atlanta in 1976.
“Chief Private Brand Officer”, I like the way it sounds, Macy’s commits backs up its commitment to Private Brand with an executive level position and the organization to back it up. Over the last year Walmart has made a similar effort to focus on Private Brand but they have not taken the step to commit senior staff. This type of commitment to Private Brand has the potential to redefine not just Private Brand but brand as a whole.