Up market retailer David Jones has converted its title as Australia’s most desirable retail store into investor pleasing financial results.
CEO and managing director Paul Zahra has revealed a six per cent slide in full year profits, but the retailer’s plans for the future to become an ‘omni-channel retailer’ saw its share price continue its rise north. Today its share price was hovering around $3.00.
David Jones was ranked the 89th most desirable brand, while Myer dropped to 155th , in M&C Saatchi’s global marketing strategy agency Clear’s Brand Desire report, unveiled exclusively live on stage at MAD Week earlier this year.
Alan King, MD at Clear, lavished praise on David Jones at the time for turning the brand's fortunes around and regaining focus.
“Talking to guys at DJ, they’ve really tried to turn the brand around and refocus their strategy,” said King.
"They’ve changed their approach to advertising. They used to have Miranda Kerr wandering around New York or London, and I guess Australians didn’t really relate to that as much. Now, what they’ve purposely done is localise their advertising,” he said, adding that the models they use now in their advertising are now placed in recognisable Australian scenes.
"All our ad testing found that Australians relate to that more … it’s much more approachable," said King.