J C Penney Corporation Inc. (JCP) introduces Ambrielle, a private label line of intimate apparel products that should be in the stores by spring 2007. The company has shown, with its store brand labels of Arizona and St. John's Bay, that a billion dollar industry can be created without overpriced national brands.
The new line,which will modernize their current line, Delicates, which proved a dissapointment, will lead to an extensive redesign of lingerie department in more than 1,000 stores. They are setting their cap after the three competitors that currently sell more than they do-Target Corp. (TGT), Wal-Mart Stores Inc. (WMT) and Victoria's Secret.
According to this NYTimes.com article the intimate apparel business is booming and becoming on of the retail industry's most crowded. Chico's FAS Inc. (CHS) is creating a new standa-alone store called Soma, American Eagle Outfitters Inc. (AEOS) is opening their own chain named Aerie and Bloomingdales's is also redoing their lingerie departments.
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