Can Target save itself by becoming more expensive?
Two decades ago, the retailer was flying high with big collaborations. Now it is being beaten by Kmart, its sister brand. The plan is to go (slightly) upmarket.
The lambskin leather jackets, $99, are flying off the rack. So are the European linen pants and shirt sets, $90. Where can shoppers find these products? Target, but not its sister brand Kmart.
And that’s the point, according to Carrie Kirkman, Target’s merchandising boss, who is hoping to resurrect the big red circle as the go-to for moderately priced fashion and soft home furnishings.
Carrie LaFrenzSenior reporterCarrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
