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Off-price retailers sell products by popular brands, purchased directly from their trademark owners, distributors and manufacturers. Off-price retailers buy overproduced or unsold goods, showroom remnants of collections from their respective brand owners or brand stores and distributing networks under certain terms and conditions in order to offer them to their final consumer with the lowest possible markup. As a rule, off-price retailers purchase huge supplies consisting of various products from their respective brand owners, with no strict requirements to the depth of their lineup (having all sizes available in stock) and collection completeness, which enables them to get more profitable terms for deals. This model keeps off-price networks protected from goods of unknown origin, guarantees their quality and ensures competitive pricing when placed beside other points of sale.
As of 2018 the retailer has 38 “pop-ups” and 13 permanent off-price stores, and the company claims to be planning to increase its number of pop-ups – up to the total time of their working which makes 11 thousand days a year. Greg Petro. “TJX/Ross Vs. Nordstrom/Macy’s — Investing In Off-Price Vs. Specialty Retailers”. Jack G. Kaikati. “Don’t Discount Off-Price Retailers”. Sarah Leung. “Off-price Retailers: What Wholesalers Need to Know”.
In just three years the network expanded to 107 stores, and by the year 1996 it consisted of nearly 300 department stores with its annual revenue reaching 1,5 bln dollars. The then founder of the company, Remy Adrion, bought a huge supply of clothing directly from a factory on the brink of closure. The first continental store of the kind appeared in 1976 under the “Le Soldeur” trademark, opening in the town of Laval, Western France. In Europe the off-price format appeared only a few decades after showing up in the United States.
Anjee Solanki (2015-06-05). “Century 21: Legendary, Family-Owned Department Store Expands”. NOZ Corporate Website. “Notre Histoire”. Muhammad Aldalou (2016-10-31). “TK Maxx owner enjoys profit rise”. Jai Breitnauer (2018-10-17). “Why Red Rack’s off-price retail is a timely move for The Warehouse”. Thomas, Lauren (2020-09-10). “Discount retailer Century 21 files for Chapter 11 bankruptcy and is closing all of its 13 stores”. Aimee Shaw (2018-10-12). “Puma, Nike deals set to hit NZ as Warehouse and TK Maxx go head to head”. Galina Utesheva (2018-09-13). “Russian Fashion Market: For actual trends”. Walter Loeb (2018-05-03). “Macy’s Is Betting Big On Backstage, Its Off-Price Offshoot”.
