Reitmans? That’s where my mom buys her jeans. Or at least that’s what millennials think according to retail analyst Jean Rickli.
“It takes time to shake that image,” says Rickli, a senior advisor at J.C. Williams Group.
But this retail facelift may be underway as the company, that operates over 700 stores under six banner names including Reitmans and Addition Elle, reported a loss of nearly 25 million dollars in its latest report.
‘A more youthful look’
Rickli says he sees the company taking steps to rejuvenate its image.
“They brought in the Subban family, father and sons to give it more of a youthful look,” Rickli says.
The hockey family were brought in as brand ambassadors for the company’s youth-targeted RW&Co stores.
But the Subbans weren’t Reitmans only new faces.
The company also brought in headline grabbing models Tess Holliday and Ashley Graham as well as Suits actress Meghan Markle as design collaborators.
In a March 2016 letter to shareholders, the company’s chairman and CEO Jeremy Reitman said the 2016 fiscal year was challenging but that the company is repositioning itself.
“We plan to open 12 new stores, close 50 stores (including 23 Smart Set), remodel 64 stores and convert 6 remaining Smart Set stores at a capital cost of approximately $18 million,” the CEO’s letter reads.
The letter also states that the company will be redesigning its distribution centre due to the rise of online shopping.
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Social media
It takes more than clothing to draw in millennials Rickli says.
In store events, online shopping and social media all play an important role in appealing to shoppers who Rickli says are flooded with buying options.
“An Instagram presence, images, Facebook, Twitter. All of these things have to be tackled at the same time and in a coherent effort,” Rickli says.
Coffee and clothing
An emerging retail trend Rickli sees is to create a sense of community within a store.
Montreal retailer Frank and Oaks caught on to this trend when they saw a majority of their business coming from Austin, Texas.
After doing a bit of digging, the company realized Austin is a university town and young buyers there were seeking a sense of community.
Trying to cater to what its clients craved, the store made room for more than clothing. Along with men’s fashions, its stores have a coffee and barbershop.
“It creates that community, where customers will gather and just meet friends that are searching the same values,” says Rickli.
Halifax shoppers share their thoughts on Reitmans
Older brands repositioning
Reitmans isn’t the only Canadian retailer trying to keep up.
“You can see that trend as to how these older brands are having to reposition themselves,” says Rickli.
Montreal based clothing chain Le Château has been slower to make changes but Rickli says the company is starting to catch on.
The company recently purchased a new distribution centre to help grow its online business. Rickli says he also sees store locations beginning redesign.
As more of Reitmans’ Smart Set shops close their doors next week, Rickli says he believes the retailer will endure.
“They’ve been around, they’ve had strong brands before,” says Rickli. He believes the company will bounce back. “But it takes time.”