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.