👉 Background: Myer is a department store that has been selling men's and women's clothing since 1900. While Myer and David Jones were both pretty invincible back in the day, the last 15 years haven’t been as kind. In fact, Myer listed on the ASX at a valuation of $2.2 billion in 2009 but has dropped by 66% since then.

👉 What happened: Myer is working hard to claw back its glory days and announced that it will merge with parts of the Premier Investments business — meaning it will now own brands like Just Jeans, Jay Jays and Dotti, Portman’s and Jacqui E.

👉 What else: In exchange, Myer will give Premier investors roughly 30% of Myer’s shares plus $82 million in cash. Off the back of this news, Premier Investments saw its share price jumped more than 12%. And while Myer's share price dropped slightly, they see a big opportunity to add Myer One loyalty program onto these new brands too.

What's the key learning?

💡One company’s trash may be another company’s treasure. While brands like Just Jeans and Jay Jays may lack glamour, they still raked in close to $800 million in revenue last financial year.

💡After leaving Qantas, Myer’s new CEO had plan to improve Myer's loyalty program. This deal means that Myer can now offer its Myer One loyalty program to millions more Australians — on top of its current Myer One's 10 million members.

💡But she ain't stopping there. Myer's CEO, Olivia Wirth, has already poached two execs from Qantas’ loyalty program over to Myer. So investors are hoping Myer can revitalise its loyalty program and drive more revenue too.