Guy Russo will be known to readers as the executive who inspired
the K-Mart recovery and he has recently been placed in charge of Wesfarmers
ailing Target brand in Australia.
Russo has given a stern
warning to the likes of H&M and Uniqlo that he intended making life very
difficult for them. “They know how to do volume, they know to do fashion; they
do it with their own brand which I love,” said Russo at a recent conference.
But he indicated their weakness was price and he intended using supply chain
changes to sell high quality fashion at lower prices.
Target have recently abandoned their mid-year toysale, scrapped
the new store format introduced just 9 months ago, and converted two of their
Target stores into K-Marts. Russo said he is confident there is room for the
two brands in Australia’s marketplace.