TK Maxx sells Ivanka Trump merchandise in Australia at cheaper prices
TK Maxx store has brought US first daughter Ivanka Trump’s clothing line to the country. The Melbourne shop was the first to open along the east coast, with more stores expected to launch by the end of May.
TK Maxx's Australian head of marketing, Tessa Buenen, said shoppers liked the product and have responded well so far. The store’s arrival came with an announcement by Amazon that it is setting up in the Down Under after long long-term speculation.
Aside from Trump’s clothing line, the store also reportedly offers other well-known brands such as Louis Vuitton, Diane von Furstenberg, Ted Baker, Guess and Ben Sherman for men. Buenen said TK Maxx acquired its stock through different channels, such as department stores that cancel orders and manufacturers making too much products. They also obtain items from brands that want to clear stock in huge numbers.
According to Sydney Morning Herald, TK Maxx store’s buying power allows shoppers to find designer labels at a fraction of the original prices. For instance, three restored Louis Vuitton vintage bags can be bought between $500 and $1000.
Treasure hunts starts
Buenen told SMH all items that arrive daily literally goes straight to the floor because the stores does not have a stock room. "That's the magic of TK Maxx, that it's constantly changing,” she said, adding it is a combination of brands, quality and value every day of the week.
She added what the British discount giant do is that it negotiated great value on products so customers can shop for popular brands at a cheaper price. TK Maxx has a “fast fashion” approach to retail, a strategy similar to other foreign retailers such as Zara, Uniqlo and H&M.
TK Maxx stores have also opened across Sydney. Shoppers can now visit its stores in Castle Hill, Chatswood, Fairfield, Hillsdale, Mount Druitt, Campbelltown and Penrith.
TJX, TK Maxx’s parent company, owns 3800 retail stores across the globe with worldwide sales of $US33.1 billion ($AU43.2 billion) in the past financial year, The Daily Telegraph reported in March. In 2015, 35 Trade Secret stores had revenue of $160 million. The news outlet noted that the company had plans to expand with additional 1800 stores in the long term.
TJX arrived in the Australian market in October 2015 under the Trade Secret brand. Since the Trade Secret stores were rebranded to TK Maxx, shoppers were expected to see a rapidly changing product selection on offer.
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