Garland Pollard

Macy's Should Monetize Its Former Brands

KPO: I think your idea of a single State Street store is totally valid. This idea could also work for some of the other downtown locations of Macy's. The reality is that for decades and decades, a department store was not a chain. Instead, it was one store that was more of a real estate play. Department stores were filled with leased departments; they were "malls" before there were malls. The local community in Richmond, Virginia, where I am from called the old Thalhimers the "tall mall" in downtown Richmond. Individual fashion brands like Ralph Lauren and even some of the cosmetics and jewelry vendors also operated their own boutiques inside the store. Thalhimers even leased space to a stamps and coins shop and accepted City of Richmond utility bills, for a fee. A chain as big as Macy's cannot do this sort of thing even if they wanted too; it is far too complex and requires local leadership who can do things like sign a lease with a local coin dealer.

Macy's Should Monetize Its Former Brands

Good points,Tired of Propaganda, but the two goals of a national brand, and using any equity in a former name, are not mutually exclusive. The Wanamaker example is NOT preposterous. Macy's has spent inordinate amounts to restore the Wanamaker organ, and has been VERY generous with cultural organizations in the restoration and involvement with these groups. The Friends of the Wanamaker Organ, the light show....But Macy's is missing the boat by not capitalizing more on the Wanamaker name. The store is obviously Macy's, but to most Philadelphians (and to the National Register of Historic Places and the history books) it is Wanamakers, and if it is going to spend the extra money to keep these retail palaces going, it needs to reconcile these two conflicting ideas. Again, the two are not mutually exclusive.

It is the same situation at Marshall Field's. Even though it is a Macy's, Marshall Field's is on plaques, and part of its identity and history. If you are going to have the expense of operating that store, you need to continue to make Macy's a national brand, yet incorporate enough references to what was so that it makes sense to consumers. It doesn't now.

Bon-Ton is not a good example. So many of the mid-market stores have been run like commodities and the only reason they have been able to hang on is the old identity.