New York -- The retail industry is buzzing as a discounter giant and a luxury stalwart form an unprecedented partnership.
Target Corp. and Neiman Marcus Group announced Tuesday they have joined to market a joint holiday 2012 limited collection that ranges from fashion to sporting goods.
More than 50 products will be available at both stores and on their websites starting Dec. 1 until they sell out. The pair feels the partnership makes more sense than people might think.
“We definitely have our differences,” said Kathee Tesija, executive VP merchandising, Target. “[Neiman Marcus] is high end, and we're mass appeal. But we both love designs.”
Neiman Marcus Group senior VP and CMO Wanda Gierhart added: “Customers love innovation, and they want a surprising shopping experience.”
Gierhart described the partnership as a modern approach to cross-shopping, and said that the two have been trying to find a way to partner for a couple of years. Neiman’s suggested the holiday collection, and it was ultimately developed by 50 executives from both companies.
The collection will have its own area in each store, but will vary by retailer. A joint TV, print and social media campaign is slated to launch in November.