Monday, April 16, 2007

A friend of Field's?

I just want to do a little brain storming here...and in so doing, I only ask you to think of the possiblities here (and if what I have suggested is not right, could it possibly lead to something that might be?). Keep an open mind, if you would...

I think it is fairly safe to say that Federated wasn't thinking about Field's State Street store when it acquired the chain and other May Co. stores. It was thinking about territorial coverage throughout the Midwest.

I don't know how important any of the super sized locations (Hearld Square, State Street, Union Square, etc.) are to Macy's, compared to the hundreds and hundreds of normal size branches. I would imagine the branches are the real work horses of the chain.

So let's say, for the moment, that Field's on State is not esential to Macy's, that Macy's fully recognizes it will not be nearly as "fan friendly" on State as Field's was, that it probably can never capture the loyality of the orignal Mashall Field's.

Let's also realize that Macy's has options on what will be its Chicago flagship store...be it at Water Tower Place's Field's, a combination of Field's and L&T at WTP, or 900N's Bloomingdale's.

What if Federated were willing to unload the Marshall Field's property on State, knowing in doing so, it would gain good will at the other Chicagoland Macy's stores, knowing it would have a more managable sized downtown Chicago anchor? Would it do it?

So here's the proposal: with a considerable dose of public support and the prospect of being able to make $$$$, could a local retailer take on the Marshall Field's State Street store (as a one location institution) and, in doing so, bring it back to its glory days?

Which retailer? How about the Sears/K-Mart conglomerate or Crate&Barrel? Could they be persuaded to undertake a subsidiary that would have only one store, with the city and the public working with them to create something that really works?

Keep in mind the following and think of Harrod's in London: the State Street store is in the heart of a heavily populated, upscale area. It is an area frequented by other folks in the city, but suburbanites, and by tourists. Everybody's got the same credit cards, so it would be easy to shop here as any place else. Being a one-of-a-kind store, it would be able to be a trendsetter and to offer the type of merchandise you may not find at the typical department store. Outside venders would still be included as they are today on the lower level, perhaps in larger numbers, so more allure is added.

Such a store would be a destination like no other store because it would be able to project its own unique personality in the finest department sore building in the nation. It would also keep and enhance Marshall Field's in Chicago where it belongs: on State.

Give it some thought....could this be a win/win situation for Chicago, for Federated's increased good will, for the retailer bold enough to consider the idea?>

0 comments: