It has remodeled stores and added new major brands and private-label clothing and home furnishings’ labels. So JCPenney is chasing these shoppers with an overhauled beauty strategy after a long partnership with Sephora ended.
He is trying to regain working-class customers. JCPenney CEO Marc Rosen took over last year. Roughly 30% of the retailer’s customers are Black, Indigenous and people of color, according to the company, a larger share than many competitors The typical customer at JCPenney has a median household income of between $50,000 to $75,000.
Rosen is staking his turnaround plan on appealing to “America’s diverse working families.”
“There was an opportunity to really take this brand and make it relevant again.” “I believe in taking on large scale transformation,” Rosen, 54, told CNN Business in a video interview this month. Marc Rosen didn’t flinch when he was offered the top job at JCPenney last year.Ī stalwart of twentieth-century retail for middle-class Americans seeking affordable clothing and home furnishings, JCPenney has struggled for more than a decade and fell into bankruptcy shortly after the Covid-19 pandemic in 2020.īut Rosen, a retail veteran who previously worked at Walmart and Levi’s, said he “did not have any personal hesitancy at all” about trying to revitalize the 120-year-old brand and protect JCPenney from extinction like Barney’s, Lord & Taylor, Century 21 and other shuttered retailers.
0 kommentar(er)
