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As Target reported earnings that increase more than 10 percent in the fourth quarter from a year ago, the company talked about its exclusive private label collections creating differentiation in the market.
“We’ll raise the bar in differentiation, providing our guests unique products and experiences at affordable prices,” Target CEO Gregg Steinhafel said on a conference call with analysts, according to transcripts from Seeking Alpha. “And … we will continue to partner with designers on unique collections that embody the ‘Expect More’ side of our brand promise and remind guests why Target is special.”
Target Executive Vice President of Merchandising Kathryn Tesija talked about the exclusive partnerships to the start the year, beginning with designer Prabal Gurung’s ready-to-wear, handbags, shoes and jewelry.
“Prabal is one of the most celebrated designers in the fashion industry, and this collection embodies his signature style and design aesthetic, all at affordable prices,” Tesija said, according to Seeking Alpha transcripts.
Tesija discussed the Kate Young collection of women’s apparel, accessories and shoes headed for Target stores April 14, as well as the additions to the Nate Berkus home collection that began its rollout in the fall.
“We’re also very pleased with the response to our partnership with Sports Illustrated and their swimsuit issue,” she said. “As you know, spring swimwear is already a signature business for Target. Through this collaboration, Sports Illustrated is creating its first style guide, which will feature original content from the publication’s esteemed editorial team, specifically geared towards their female readers. This partnership reinforces Target as a swimwear destination by allowing us to reach a unique audience with our on-trend, affordable offerings.”
Tesija wrapped the discussion with information about the rollout of its Threshold brand.
“(T)hroughout the spring, we’ll continue to roll out our threshold brand to replace Target Home,” she said. “Initial results from this brand launch have been favorable, as guests respond to this fully redesigned high-quality collection that’s inspiring guests to update their homes.”