Dive Brief:
- Nordstrom is reimagining its namesake brand with a new apparel collection of womenswear and menswear, according to a Monday news release.
- The line will feature blazers, tailored pants, cropped jackets, dresses and patterned sets, per the company. In addition to apparel, the brand will also feature footwear, jewelry and accessories, including hats, earrings, rings and belts.
- The new namesake collection is available as of March 18 at Nordstrom stores and through its ecommerce site. The brand revamp comes after the retailer’s full-line Nordstrom sales fell 3% in Q4.
Dive Insight:
Nordstrom is marketing this brand as one that balances “tailored classics with minimalist pieces for everyday wear.” Prices range from $29.50 to $179, and sizes range from XXS to XXL. Footwear in the collection ranges in size from 5 to 12, and prices start at $69.95.
“The Nordstrom brand is a culmination of the incredible fashion we're inspired by in our work every day along with customer feedback,” Nina Barjesteh, president of the Nordstrom product group, said in the release. “Our goal is to create an assortment of well-designed, style-led essentials and trend right must haves our customers expect from us.”
During its earnings report earlier this month, Nordstrom announced it was funneling more resources into its off-price Rack business, for which it plans to open 22 new stores this year. Rack sales grew 14.6% in Q4.
At the time of the results, GlobalData Managing Director Neil Saunders said that if Nordstrom is gaining momentum in off-price, it may be faltering in the full-line business, which is losing customers and market share.
“In our view, over the year ahead Nordstrom needs to commit itself to rebuilding its full price stores,” Saunders said in emailed comments about the earnings. “It must inject the energy and excitement that was once a hallmark of its shops. A failure to do this will likely result in Nordstrom entering a spiral of decline that is very hard to pull out of.”
For the 2024 fiscal year, the company said it plans to grow Nordstrom banner digital sales. It still anticipates between a 2% decline and a 1% rise in revenue for the fiscal year.
