With a year of higher-than-expected growth under its belt, Kohl’s has added another brand to its collection, partnering with Authentic Brands Group (ABG) to bring Nine West to its stores.
Nine West, a key brand within ABG, specializes in footwear and handbags and has a particular pull with young, millennial women—a market Kohl’s has struggled to appeal to.
“We’re excited to bring Nine West, a brand synonymous with fashion and sophistication, to Kohl’s customers nationwide,” Kohl’s chief merchandising officer Doug Howe, said. “We admire the role Nine West has played in shaping the footwear industry and its success in becoming one of the most recognized and desired brands among female consumers, particularly millennial customers. The addition of the Nine West brand to our women’s portfolio further illustrates our commitment to delivering relevant, sought-after brands that will continue to drive new customers to Kohl’s.”
The Nine West collection will be available in Kohl’s department stores starting in July 2019, featuring mainstays including shoes, handbags and outerwear. Kohl’s will also be offering exclusive Nine West apparel in all of its stores and online.
Nine West joins other leading brands at Kohl’s including Vera Wang, POPSUGAR, Nike, Under Armour, Adidas.
“We are excited to collaborate with Kohl’s on a Nine West collection of apparel and accessories and introduce Nine West to Kohl’s customers,” said Nick Woodhouse, president and CMO of ABG, owner of Nine West. “Nine West strives to offer women a head to toe wardrobe that makes a statement about who she is and what she aspires to be, and we are confident that Kohl’s is the right destination to deliver on the Nine West brand promise.”
In its most recent quarter ended Aug. 4, Kohl’s reported same-store sales up 3.1%, coming in ahead of analysts expectations. Revenue for the quarter was $4.3 billion, which was also higher than projections.
While Kohl’s stock had advanced 45 percent this year through yesterday’s close, the retailer now joins department-store peer Macy’s Inc. in watching its shares decline in spite of a largely positive quarterly result. Last week, Macy’s, which had also advanced sharply this year, plunged 16 percent after earnings.
Same-store sales rose 3.1 percent in the quarter ended Aug. 4. Analysts had expected an increase of 2.6 percent, according to Consensus Metrix. Excluding some items, profit per share also topped estimates in the period, while revenue of $4.3 billion was slightly higher than projections.