Target, Neiman Marcus Partner on Limited Holiday Collection
Target Corporation and Neiman Marcus are on two opposite ends of the retail spectrum when it comes to cost—but the companies announced Tuesday that they’re joining forces to offer a limited holiday collection.
Beginning December 1, more than 50 products from 24 designers will be available at both Target and Neiman Marcus stores and on both retailers’ websites. Product prices range from $7.99 to $499.99, and most cost less than $60.
The collection’s designers include many well-known names. Among them: Diane von Furstenberg, Jason Wu, Marc Jacobs, and Oscar de la Renta.
Minneapolis-based Target and Dallas-based Neiman Marcus are being tight-lipped about the product details but did say they’ll range from apparel and home dÃ©cor to pet products and sporting goods. The companies also told the Star Tribune that some of the items feature leather, hand-done beadwork and hand-blown glass. More information about the items will be released this fall.
Target has offered designer merchandise at affordable prices for more than a decade, starting with Michael Graves home goods in 1999—and its partnerships with designers have helped it earn its “cheap chic” reputation. Many rivals have since followed suit and launched their own exclusive designer lines.
Neiman Marcus, meanwhile, is known for expensive fashion, with many accessories costing in the thousands of dollars. It has 42 stores, including one in downtown Minneapolis, and Target has 1,763.
“We definitely have our differences,” Kathee Tesija, Target’s executive vice president of merchandising, told the Star Tribune. “They’re high end, and we’re mass appeal. But we both love design.”
In a prepared statement, Target Chairman, President, and CEO Gregg Steinhafel acknowledged that this new collaboration is “unlike anything Target has done before . . .”
According to Target’s blog, the two retailers partnered with the Council of Fashion Designers of America to enlist designers to create the collection—and the partnership has been in the works for “quite some time.”
According to the Star Tribune, the holiday collection will have its own area in each store, but the areas won’t look the same for Target and Neiman Marcus. The newspaper also reported that a joint television, print, and social media campaign will debut in November.
Target has launched several innovative partnerships within the past year.
Last fall, the retailer debuted a highly anticipated exclusive line from high-fashion brand Missoni. Products quickly sold out of stores, and the high demand prompted Target’s website to crash.
Then in May, Target opened small boutiques within its stores under a concept called “The Shops at Target.” The boutiques offer affordable, limited-edition merchandise made exclusively for the discount retailer.
Target is Minnesota’s second-largest public company based on revenue, which totaled $68.5 billion for the fiscal year that ended in January.