Walgreens, the nation's largest drugstore chain, is reaching well beyond traditional drug store products with the addition of fashion jewelry, apparel and other lifestyle products. Wall Street analysts see this as an initiative that places Walgreens into closer competition with Target and Wal-Mart.
"We've always been a strong destination for health and beauty, and now we're layering on the fashion, jewelry, accessories and apparel angle to even further meet shoppers' lifestyle needs," says a spokeswoman for the company, based in Deerfield, IL.
This fall, the company rolled out a new fashion jewelry line, "The Pure Allure Crystal Collection," which is made with Swarovski crystal. It was developed exclusively for Walgreens by the Robertson Schwartz Agency, a company based in Los Angeles that specializes in developing and creating lifestyle brands.
The line includes 36 classic styles of earrings, birthstone necklaces, pendants, pins and hair accessories. Units in the initial collection are priced from $5.99 to $14.99. Every six weeks new groupings of product will be introduced, and prices will range from $14.99 to $39.99.
"This line taps into the evolving needs of today's female shopper," says Cheryl Schultz, Walgreens' divisional merchandise manager for fashion.
In describing this shopper, Schultz says, "She is both fashion and price savvy. She wants to look like a million bucks while spending considerably less. With the introduction of the Pure Allure line exclusively at Walgreens, elegance, glamour and prestige are more accessible and attainable than ever before."
Walgreens operates 5,461 stores in 47 states and Puerto Rico. It's fiscal 2006 sales reached $47.4 billion.
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