In the past, Target Corporation has partnered with many already successful designers. Jason Wu, Missoni, Yves Saint Laurent, and Zac Posen are just a few examples of the designers chosen for these profitable partnerships. Target Corporation is known for partnering with popular designers to create items that are not only affordable but also quite innovative. Each time that Target releases a new partnership line, fashionists rush to their nearest Target store to get their hands on an item that has been touched by their favorite designer. Target has shown that this strategy can create a tremendous buzz. For our line extension, we have chosen to have out line sold at Target Corporations nationwide. Target has had much experience with collaborations, making this an easy extension. Our planned products would be sold best at a retailer, like Target, that attracts the multi-channel shopper. Because there are so many Target stores nationwide, we are confident that out product would be able to reach the masses.
Tory Burch is an iconic American designer known for her classic shapes and preppy style. Her desirable designs have made her a well-known figure throughout the American household. American movies and TV shows have included Tory Burch within their style repertoire helping to make Tory Burch a status brand. Her timeless designs have helped to create a brand that will forever feed the American woman from a young age to an old.
We see no better designer than Tory Burch to partner with the Target Corporation. Our plan is to create a line of shoes and accessories that will transfer the iconic preppy-chic vibe that Tory Burch has made so popular into the dearly loved Target Corporation. Our brand strategy will consist of creating an extension without a sub-brand. The line will be called Tory Burch for Target. Tory Burch will design several items that will then be manufactured and exclusively sold by Target Corporation.
Tory Burch is not a new designer entering the retail industry, however for the first time, the Tory Burch brand will become accessible to the mid-level income shopper. Because Tory Burch already creates handbags, accessories, and shoes, this partnership is not a category extension but a line extension. A line extension is a multi-product branding strategy whereby a firm markets one or more new products under an already established and well-known brand name (Online Business Dictionary). Tory Burch’s accessories are more sought after than her clothing, making the accessories become status pieces that will be favored by the Target shopper. For this reason, we have selected the accessory and footwear categories to implement into Target Stores.
Because the Tory Burch items will be highly desired, we plan on distributing our products through many different channels. Using multi-channel retailing will allow for any shopper to purchase Tory Burch for Target items at any time. Our first focus will be in-store. Inside the store we will set up a pop-up shop. This area will contain all of the Tory Burch items that Target offers. The main essentials of this small “shop” will be the signage and layout. The promotional signage will begin at the front of the store. As the customer enters the store, they will be able to look down and see printed Tory Burch sticky-feet that will lead them to the Tory Burch pop-up shop. Promotional signage will also be hung from the ceiling and will contain the words “Tory Burch for Target”. The signs will be navy and lime green with a splash of pink. Within the “shop” we will have point of sale signs that will be placed near each product. These signs will contain the prices, the place from which Tory Burch drew her inspiration, and Tory Burch’s tips on how to wear each item. The layout of the Tory Burch area will be very important in order to maintain an even traffic flow. We have chosen the free form layout to...