What: Australian department store Myer’s acquired Premier Investments’ Apparel Brands.

Why it is important: This investment appears to be the next step in executive chair Olivia Wirth’s plan for the department store’s loyalty program, Myer One.

Myer One currently has about 10.6 million members and this acquisition can provide a big opportunity in the loyalty space beyond the addition of stores and sales. Wirth believes the acquisition of Premier’s Apparel Brands will allow Myer to negotiate with landlords and suppliers more easily. Her omnichannel vision under the Myer One loyalty program provides Myer’s with a competitive edge. If the deal is approved by board members and shareholders, Myer will have 17,300 staff across Australia and New Zealand – as well as an estimated USD 4 billion in annual sales and USD 250 million in earnings. The department store has the potential to emerge from a challenging period of transformation and change to be one of Australia’s leading retailers.

What to make of Australian department store Myer’s latest acquisition