Target venderá William Rast a precios muy bajos Justin Timberlake
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Targeting the High-End Consumer
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Target has been hawking lower-priced lines from famed fashion collections like Mossimo, Liz Lange, Converse, as well as other pop-up offerings for years. Now the discount retailer is teaming up with luxe-for-less site Gilt Group for a weekend sale experiment starting Friday.
The initiative—which will feature Mulberry handbags and John Derian homewares—comes as Target tries bringing higher-priced clothing to its big box locations. Debuting in stores mid-December will be Justin Timberlake’s William Rast collection, featuring leather goods that cost $200.
«We wanted to make sure we could deliver that brand in a very authentic way. Prices in fabric have gone up in the past year. It’s the natural progression of pricing,» Trish Adams, senior vice president of merchandising at Target, told WWD.com.
Adds Marcella Lindeberg, designer for William Rast: «I’ve been doing this for 15 years and I was surprised by what Target could do within the price [constraints].»
But is now the right time for Target to diversify? Retail sales figures for July were disappointing, inducing fresh concern that the economy is headed for a double-dip recession. But then again sales in the summer are often slower with August being the month to watch as back-to-school sales gear up in earnest.
Target’s testing of the online waters with Gilt is an inexpensive way for the retailer to assess reaction to its new offerings, although the Gilt customer is fundamentally different. Sure, both sets are bargain hunters. But the shopper who goes to shop at the bullseye isn’t dropping $2,669 on a pair of Amrita Singh smoky quartz earrings that are currently on sale at Gilt. Granted, at a retail price of $7,500, they’re being sold at a deep discount, but that doesn’t compare to $9.99 sheets and $2.50 pillows shoppers routinely find at Target.
But with its new store open in Manhattan, the discounter is reaching out to those who previously might have looked down at its wares. For the luxury set, spending $50 on designer jeans is an absolute steal. And $200 for a leather jacket is by no means offensive. So as Target juggles the high-low ball, it will be interesting how buyers react. And whether brands like William Rast and Mulberry will earn more credibility or see their value slide, as a result of the trial run.
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Target is pushing the edge of the price barrier with the introduction of Justin Timberlake’s William Rast collections for men and women on Dec. 19 at most Target stores and target.com. The collections, which will be available through Jan. 22, feature several leather jacket designs for men and women, all priced at $200.
«If you think through all the Go International collections, many have had some leather pieces,» said Trish Adams, senior vice president of merchandising at Target Corp. «[William Rast] might be slightly higher. They were fantastic partners and we’re really pleased with the line and the quality of the leather and denim, which probes some prices we haven’t had up to this point. We wanted to make sure we could deliver that brand in a very authentic way. Prices in fabric have gone up in the past year. It’s the natural progression of pricing.»
Marcella Lindeberg, designer for William Rast, said, «I’ve been doing this for 15 years and I was surprised by what Target could do within the price [constraints]. It’s really going to get our brand out there. We’re opening stores — in Miami — and looking for locations in New York. We’re launching eyewear for Fashion’s Night Out and shoes for women in the fall and men in spring. Handbags are in the pipeline.»
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