Business Insider/Jessica Tyler
- David’s Bridal filed for Chapter 11 bankruptcy protection in November.
- It remerged from bankruptcy in January, having shrunk its debt load by $450 million.
- In a recent interview, company CEO Scott Key said that store is lowering prices, offering free personal stylists in store, and expanding its sample assortment in stores to woo millennial shoppers.
David’s Bridal has a comeback plan post bankruptcy.
After filing for Chapter 11 protection in November, the retailer remerged in January with $450 million less debt ready to woo the millennial bride.
In a recent interview with USA Today, company CEO Scott Key outlined the store’s strategies to do so. These include: lower priced dresses, free personal stylists in store, and more sizes.
Key acknowledged that the news of its recent bankruptcy may have prompted some people to think that the store was shutting down for good. But that’s not the case, he said. "We’ve come out the end a much stronger company." David’s did not close any of its 300 stores during its recent bankruptcy.
New brides can also expect to have more attention when they come into David’s stores as it will now offer a dedicated bridal stylist to help try on dresses and advise customers. This stylist is free of charge.
"In the past, in a busy, peak period … brides-to-be might find themselves in a situation where they’re sharing the attention of the associate with another bride. And that was a dissatisfier for our customers," Key said.
He continued: "[Now] brides have the attention of a dedicated bridal stylist."
Key said the company has also lowered the prices on certain dresses, especially those for bridesmaids, to make it more competitive in a market that is increasingly saturated with options.
Stores such as Anthropologie, H&M, Asos, and Reformation have all started selling bridesmaid and bridal in recent years and are offering lower prices on these items. This has put pressure on the more traditional chains such as David’s and Alfred Angelo, which abruptly shut its doors in July 2017.
"There are so many options for brides to shop now, and women have the option to shop for less," Anne Chertoff, a wedding-industry marketing consultant, told Business Insider in 2018. "The market is saturated, and it gets diffused."
To make sure it is serving all of its customers, Key said the store will offer a larger assortment of sample sizes in its stores.
"When a plus-sized woman would visit our store, she would likely be able to try on a dress in her size, which is different than the experience if she visited (a) boutique, but it might not be the dress she wanted," he said.
"Basically we are … supporting women of all sizes and giving them an opportunity to try on a dress in their size."
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Source: Business Insider