Out with the old, in with the new — Target is making over its fashion departments with major changes that include axing two of its most recognizable brands, Mossimo and Merona, for more than 12 new exclusive labels.
The retailer announced the phaseout strategy will take place over two years and introduce niche lines in décor and fashion categories, according to The Wall Street Journal.
For fall, four new only-at-Target labels will debut, including A New Day, Goodfellow & Co., JoyLab and Project 62.
A New Day is a mix-and-match women’s brand that offers “a modern take on a classic aesthetic and incredible prints and patterns,” according to a statement. A teaser image of the line showcases a pointed-toe velvet slip-on shoe among trousers, dresses, jackets and purses.
Meanwhile Goodfellow & Co. is described as a “modern-meets-classic line of men’s clothing, accessories and shoes” that will debut in September. A brown lace-up boot is included among jeans, cardigans, khakis and jackets in a preview photo.
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“Our new brands are all about the changing face of our guests — what they need, what they’re looking for from Target,” said Mark Tritton, 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.”
Target tested waters last year when it launched Cat & Jack as its exclusive children’s fashion line. “We’ve seen phenomenal results — not just in sales, but in loyalty, basket size and overall preference for Target,” Tritton added. “Cat & Jack is now one of our biggest owned brands and is a leader in the U.S. kids’ apparel industry.”
Target’s approach comes as other retailers strategize amid shifting consumer behavior and preferences. In fact, Target competitor Walmart has made a play for more influence in footwear and fashion categories with the acquisition of several brands as a way to take on e-giant Amazon.
On the heels of Walmart’s aggressive moves, Target has been under immense pressure to step up its business strategy and spur new growth. The addition of the new brands — as well as the axing of poor-performing ones — is likely a step in that direction.