This doesn’t sound like much of a shakeup, considering that Macy’s is replacing one longtime executive with another, who has been trained in retail by Macy’s itself.
But Ongman’s exit further dismantles the team that developed Macy’s “Polaris” strategy, presented a year ago before the pandemic roiled those plans. In October, the retailer replaced its CFO with a business consultant. In presenting the Polaris merchandising strategy, Ongman said the focus would be on overhauling private label brands, especially in women’s apparel.
The goal then was to extract 25% of sales from four major women’s private labels, INC International Concepts, Alfani, Style & Coand Charter Club women’s apparel — which were each “well on their way” to becoming a $1 billion brand, Ongman said at the time.Retail Dive