The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The big box retailer announced Monday a new collection of dresses featuring three designer labels, including the London-based Rixo; Alexis, a contemporary brand known for feminine dresses; and Christopher John Rogers, recipient of 2019 Council of Fashion Designers of America/Vogue Fashion Fund prize.
Products in the line will hit stores and online later this spring, Target said Monday, Apr. 19, and will range $40 to $60 in price. Sizes include XXS to 4X.
In 2019, apparel and accessories accounted for 19 percent of Target’s total sales, or about $14.6 billion. The retailer has likely gained even more share in the category in 2020 as specialty stores were forced to close during parts of the pandemic while Target was able to remain open as an essential retailer.
The category’s biggest brands by market capitalisation report results this week, and will need to show they have a plan to fend off fast-growing competition.
By investing in an elevated product and shopping experience, Spanish retailers Inditex and Mango are seeing tremendous growth despite fierce competition from the likes of Temu and a cash-strapped consumer.
The ByteDance-owned app’s e-commerce play has been met with mixed response from users. Still, sales seem to keep ticking up.
The fashion resale company finally became profitable last year, but it was at the cost of losing consignors who complain that reselling is no longer as lucrative as it once was on the platform.