Caleres Talks Brands
Famous Footwear parent Caleres, which says its top 15 brands accounted for 77 percent of its FY20 sales, will continue to offer a balanced assortment of athletic, sport and seasonal style as it moves forward with a number of key strategies this year. Among them: testing new aspirational brands, elevating its number of offerings in outdoor footwear, looking for new opportunities in the kids’ segment that comped positively in Q4 and exploring growth opportunities within its own portfolio of footwear brands, including Dr. Scholl’s for the Millennial set.
“We believe our Brand Portfolio is well positioned for a recovering and evolving footwear market,” commented Chairman and CEO Diane Sullivan. Caleres also sees its Sam Edelman, Vionic, Ryka and Blowfish Malibu as well positioned to gain sales and profitability momentum in the months ahead.
Caleres brand Vionic, for example, will target high-growth channels and leverage its comfort technology and new products this year as its aims to build additional ecommerce momentum and sales growth. Last year, the brand experienced more than 50 percent growth in digital sales and a 28 percent increase in its email list size.
During its fourth quarter, Famous Footwear experienced sales declines from its Allan Edmonds and Naturalizer labels that offset the strides the retailer made in brands focused on wellness, comfort and sport.
But Caleres isn’t giving up on AE. Instead, it’s supporting a pivot that will encompass a shift of half its assortment to casual and sport offerings this year as the brand announces new product collaborations and partnerships.