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NEW YORK - Duane Reade officially flipped the switch on its controlled label cosmetics strategy early last month at a Times Square store. Store managers in Duane Reade stores throughout New York launched the retailer's homegrown Apt. 5 cosmetics brand by lighting displays-illuminated by fluorescent bulbs-prominently positioned on endcaps adjacent to the beauty wall.
The launch plugs into a larger strategy announced by Duane Reade chairman, president and chief executive officer Anthony Cuti to ramp up the percentage of private label offerin,ggs in the mix.
"Our mission is to move heavily into private label to a greater degree than we have in the past. It is a huge margin opportunity that wane Reade has not pursued adequately," Cuti told a room full of industry analysts and investors at a conference in New York City in April.
The Apt. 5 debut follows similar launches of rivate label brands in both...