Advantages and disadvantages of private labels - Essay Example

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Advantages and disadvantages of private labels

A private label may be defined as a label that is unique to a specific retailer. According to Weitz's definition, "Private-label brands, also called store brands, are products developed by a retailer and available for sale only from that retailer (2004)." There are many categories of private labels such as, store brands, store sub-brands, umbrella branding, individual brands and exclusive brands.In order to fully discuss private labels, an original company, Macy's, has been used as an example in this essay. I would like to propose several ideas related to private labels that can help improve Macy's profitability.Macy's was founded by Mr. Rowland Hussey Macy in 1851 and established on Broadway in New York City. In 1896 the store was acquired by Mr. Isidor Strauss and underwent a large expansion during the 1920's and 30's http://en.wikipedia.org/wiki/Macy's).Today, it is perhaps as well known for its annual Thanksgiving Day Parade, as its chain of large American department stores. Its flagship store is located in New York City, and currently holds the record for largest department store building.R.H. Macy & Co. merged with Federated Department Stores on 19th December, 1994. Federated merged its Abraham & Straus/Jordan Marsh division with "Macy's East". Federated acquired Woodward & Lothrop/John Wannamaker in 1995. In 1996 Federated purchased and dissolved Broadway Stores and incorporated it into Macy's West. The year 2001 saw the acquisition of the Liberty House chain which had departments and stores in Hawaii and Guam. ...Show more

Summary

A private label may be defined as a label that is unique to a specific retailer. According to Weitz's definition, "Private-label brands, also called store brands, are products developed by a retailer and available for sale only from that retailer (2004)." …
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