Target unveils three new private label apparel brands
US department store retailer Target Corp has revealed a first look at three new privatel label apparel brands that it hopes will resonate with customers in much the same way as its children's offering Cat & Jack.
Earlier this year, in the wake of tumbling fourth-quarter earnings, Target revealed a new financial model, promising an overhaul of stores, digital channels and supply chain, alongside the introduction of more than a dozen new brands.
The retailer's newest apparel brands are A New Day, Goodfellow & Co, and JoyLab. A New Day is a "versatile, mix-and-match women's brand" coming in September; men's apparel and footwear line Goodfellow & Co will also be available in September; while JoyLab, an "edgier" version of Target's C9 Champion activewear line, will launch in October.
The Minneapolis-based company hopes they will have the same level of success as its Cat & Jack children's line, which includes clothing for both children and babies and is Target's largest ever private label apparel brand. Prior to its launch Target said it expected the collection to generate more than US$1bn in sales in its first fiscal year alone.
"Our new brands are all about the changing face of our guests – what they need, what they're looking for from Target," explains Mark Tritton, Target's executive vice president and chief merchandising officer.
"When we took a close look at our existing assortment with this in mind, we saw a disconnect. We knew we'd need to refresh our offerings – and define new ones – so our guests continue to love what they're discovering at Target and want to keep coming back, again and again."
Since the new strategy was revealed earlier this year, Target has unveiled the first design elements of its store overhaul plans – including elevated, cross-merchandise apparel displays – as part of its strategy to create a smart network, with stores, digital channels and supply chain all working cohesively.