At Sears, You Can Now Buy a Rolex With That Washing Machine

×
Getty Images
By Kate Rogers

Sears just got a little more fancy.

The department store chain, known for its affordable clothing and home appliance offerings, is now peddling high-end designer duds from major labels including, Chanel, Rolex and Zac Posen.

The designer goods will be sold on The Sears Marketplace through third-party vendors. The move may seem counterintuitive, but a Sears spokesperson says it takes the department store back to its roots, which once included selling cars.

"We've grown Sears Marketplace to include more than 85 million items in just more than three years, so while it does include designer items, it also includes literally millions of other items across nearly every imaginable product category at a wide variety of price ranges. We're focused on serving, delighting and engaging our members while they shop their way," said Imran Jooma, executive vice president and president, marketing, online and financial services, Sears Holdings (SHLD) in a statement to FOX Business.

However, luxury marketing expert Pam Danziger, says the move is misguided and will confuse shoppers looking for a bargain.

"It just seems totally nuts to me," Danziger, who is president of Unity Marketing says. "Sears, KMart and luxury don't go together."

Shares of Sears were up 12 cents to $44.50 on Monday.

Sears Marketplace faces stiff competition in the e-commerce world that is currently dominated by eBay (EBAY) and Amazon.com (AMZN), which are more widely known and established. Luxury consumers will likely have trouble making the switch to trusting Sears in making big-ticketed purchases, says Danziger.

"eBay has had success, but that is a function of their longevity and through their ratings system, they have given [shoppers] more confidence. I don't know how Sears can match the length of time eBay has been at this business to compete with them," Danziger says.

Offering more upscale items can help a company's bottom line, Danziger says, calling KMart's move to sell Martha Stewart (MSO) products a smart decision. But Sear's move might be too far of a jump.

"Affluent [consumers] only make up about 20 percent of American households, but are 40 percent of consumer spending. But Sears is wasting time on this. They should be doing a better job of attracting more affluent customers back into their store, with good merchandise and good service," she says. "Affluent shoppers buy from all classes of stores-from dollar stores up to Neiman Marcus and Bergdorf Goodman."

But Sears seems confident the move was a smart one, and will enable it to better serve its customers with more selection.

"When you combine the capabilities of our stores with the broad assortment we have available online, it will help bring an endless aisle of products from our Marketplace to our members and start to blur the four walls of our stores. If our members can't find the items they need in a store, they can order through the terminals or tablets in store and have them delivered to their homes," Jooma says in a statement.


More From FoxBusiness


Increase your money and finance knowledge from home

Socially Responsible Investing

Invest in companies with a conscience.

View Course »

Managing your Portfolio

Keeping your portfolio and financial life fit!

View Course »

Add a Comment

*0 / 3000 Character Maximum

24 Comments

Filter by:
goodgrief61945

Heck, Sears used to sell HOUSES!

July 24 2013 at 9:34 AM Report abuse rate up rate down Reply
1 reply to goodgrief61945's comment
allanfz

....Also Thompson sub-machine guns....for 200 bucks in 1921 !!!

July 24 2013 at 10:28 PM Report abuse rate up rate down Reply
eyedocandynj48

MY GIRLFRIEND IS AN ESCORT AND I GAVE HER 1 OF THE ROLEXS I BOUGHT THERE TO KEEP TIME OF HER CLIENTS

July 24 2013 at 8:54 AM Report abuse -1 rate up rate down Reply
eyedocandynj48

I BOUGHT 2 ROLEXS AT SEARS AT A PRICE NO JEWELRY STOR CAN MATCH

July 24 2013 at 8:52 AM Report abuse -1 rate up rate down Reply
emdjrd66

You can also buy fashions(?) from the kartrashians. You know, the ones that make porno movies!
But you can't buy a Paula Deen cookbook. How sad. No wonder they are headed for the shithouse!

July 24 2013 at 8:22 AM Report abuse +2 rate up rate down Reply
dentiom03

I shop at Sears and Kmart all the time . I have no complaints and I like the cash back program with every purchase.

July 24 2013 at 4:26 AM Report abuse -2 rate up rate down Reply
cslinz62

Owning a Rolex is nothing anymore. It's just a glorified Bulova.

July 24 2013 at 1:40 AM Report abuse -1 rate up rate down Reply
bill griffis

if i ned a item now why i going wait to it deliver to the store or my house i sure some other store will have what i need

July 23 2013 at 10:34 PM Report abuse rate up rate down Reply
nf1stinks

Didn't K-Mart buy Sears many years ago?

July 23 2013 at 9:56 PM Report abuse rate up rate down Reply
jtendler2001

Sears WAS a great company. After Greedy Wall Street types attacked Sears ..what was left was bought out by the group that bought out the Bankrupt Kmart. They Took the Sears Name.
Its is no longer the Sears we remember growing up with. At one time it was a one stop for Retail Goods of every type. Coldwell Banker Real Estate , Allstate Insurance ,Dean Whitter Wall Street Brokers, Banking ( Credit Card Business was Sears owned too ) with alot of some very valuable Real Estate all over the place. Those companies were spun off years ago. Made some folks on Wall Street Rich but distroyed Sears as we knew it. I wouldnt even go there anymore unless its for a Kenmore Major Appliance if I and when I need one. I would give them a shot at it Because they were good .......once upon a time...far far away

July 23 2013 at 9:19 PM Report abuse rate up rate down Reply
procras48

The way Sears treats it's customers is horrible! I will not buy at, or recommend this store.
After 40 plus years as a customer, they contacted me and raised my interest rate to a rediculous amount and gave me a $250 credit limit. We make over $100k a year with a very good credit score. They would not back down.
I try to charge one red box movie a month to the card and pay the bill by check.
I even worked for them part time when I was in the Army. Sad. Sad company.

July 23 2013 at 7:17 PM Report abuse +1 rate up rate down Reply