J.C. Penney Co. has launched the Growth Brands, a division that will pursue high-potential opportunities in the retail sector. Growth Brands' initiatives will be separate from J.C. Penney's core brand. Growth Brands, however, will leverage J.C. Penney's merchandising, marketing, product development, sourcing, IT, planning and allocation, and consumer-research capabilities to create new retail businesses and drive sales growth.
Growth Brands' first two initiatives are CLAD and Gifting Grace. Growth Brands will launch them the in summer of 2011. They are both strategic collaborations with Hearst Magazines. Anne Sutherland Fuchs, a brand and digital executive, has joined Growth Brands as group president, Digital Ventures.
CLAD is a complete online modern menswear resource aimed at individuals 25 to 54 years old. CLAD will provide a full assortment of well-curated designer brands in a savvy digital environment. Will Swillie will head CLAD. Swillie joined Growth Brands from Retail Convergence, where he was brand manager. While there, he launched Retail Convergence's men's business.
Gifting Grace targets women ages 30 to 54. Giftinggrace.com will be a comprehensive online gifting resource. It will offer an extensive assortment of unique and memorable gift items, compelling content and convenient tools for the year-round gift-giver. Mary Drolet, a retail industry veteran and founder of Club Libby Lu, will join the Growth Brands December 6 to lead Gifting Grace.
