Marshall Field’s New Lease on Life and Business
By George Anderson’
The department store retailer, Marshall Field’s, is seeking to revitalize its business by leasing space within its stores to designers and other merchants.
According to USA Today, the store plans to lease up to 10 percent of its floor space in its Chicago flagship store to 25 boutiques including Thomas Pink, Phillips Electronics, Barbara’s Bookstore and Creative Kidstuff.
Frank Castiglione, head of marketing for Field’s, says the retailer wants to “create a halo effect” by leasing space to prestigious designers and popular local merchants.
Mr. Castiglione said, “We are scouring the world for businesses that we know our guests would like and make the store the most impressive.”
Moderator’s Comment: Will Field’s decision to lease
space within its stores to other retailers strengthen or weaken its brand image
with Chicagoland consumers?
It’s hard for us to understand how leasing floor space
to Thomas Pink will give consumers a more favorable image of the brands of shirts
sold by Marshall Field’s. [George
Anderson – Moderator]