Target recently announced it will introduce four new Private Label brands replacing some of its existing brands. These are part of their goal of launching 12+ new Private Label brands.
The Wall St Journal reported that half its apparel and accessories will be overhauled in the next two years, and more than a third of its home offerings. Brands become a great differentiator, according to CEO Brian Cornell.
The new Private Label brands to be introduced this Fall are
A New Day, a line of women’s fashion classics which will replace the Merona line
Goodfellow & Co., a modern-meets-classic line of men’s clothing, accessories and shoes. This brand will replace its Mossimo line
Project 62, a modern home brand designed for everyday life and
JoyLab, a fitness-meets-fashion-and-function women’s line. The C9 activewear line will remain.
The WSJ article also noted that in addition to the launches, Target is making changes that it says reflect how customers want to shop today. Rampant discounts and promotions, which Target says have diminished customers’ trust in retailers, will be kept to a minimum with the new brands.
Target’s A Bullseye View including an interview with Mark Tritton, Target’s executive vice president and chief merchandising officer