Christmas comes early with Neiman Marcus deal
The holiday hype has begun, and Target this week launched one of the first salvos, announcing an innovative partnership with 24 designers and the upscale department store chain Neiman Marcus.
Target has secured an unprecedented partnership with Neiman Marcus and 24 designers that solidifies Target’s uniquely differentiated positioning in the retail landscape and could help the company mitigate the effects of irrational Black Friday promotional activity. The two retailers, working with the 24 designers, plan to create a limited-edition collection of 60 holiday gift items called the Target + Neiman Marcus Holiday Collection. The products will become available in both retailers’ stores and on their websites beginning Dec. 1.
Target chairman, president and CEO Gregg Steinhafel, normally pretty low key when describing various company initiatives, even got carried away in his assessment of the partnership and its implications.
“Target and Neiman Marcus are known for charting new terrain, and by joining forces for the holiday season, we’ve set the stage for a redefining moment in retail,” Steinhafel said.
“This collaboration is unlike anything Target has done before, and we are confident our guests will be thrilled with this extraordinary collection that features some of America’s most preeminent designers.”
Indeed. The roster of designers includes some big names that even those with only a passing knowledge of the fashion industry would recognize, including; Alice + Olivia, Altuzarra, Band of Outsiders, Brian Atwood, Carolina Herrera, Derek Lam, Diane von Furstenberg, Eddie Borgo, Jason Wu, Judith Leiber, Lela Rose, Marchesa, Marc Jacobs, Oscar de la Renta, Philip Crangi, Prabal Gurung, Proenza Schouler, Rag & Bone, Robert Rodriguez, Rodarte, Skaist-Taylor, Thom Browne, Tory Burch and Tracy Reese.
Products are expected to range in price from $7.99 to $499.99. Most items will be priced at less than $60, which is an ideal price point for mass market gift givers to show someone they care without going crazy.
“Neiman Marcus and Target share a passion for great design and delighting customers in new and unexpected ways,” said Karen Katz, president and CEO of The Neiman Marcus Group. “We are thrilled to be collaborating to offer a spectacular and special collection of one-of-a-kind items for the holidays. These will be the ‘must-have’ gifts, whether you are a loyal Neiman Marcus customer, a devoted Target guest or a fan of American design.”
In connection with the partnership, the companies said they would donate a total of $1 million to theCouncil of Fashion Designers of America (CFDA). The retailers’ said the donation underscores their long-standing commitment to fostering design talent and recognizes the 24designers,all of whom are members of the CFDA.
More information about the, including details about the products created by each designer for this limited-edition engagement, will be available in the fall of 2012.
Kellogg earns diversity accolades
BATTLE CREEK, Mich. — Kellogg Company has once again been named one of the "40 Best Companies for Diversity" in 2012 by Black Enterprise magazine. The recognition reflects the company’s ongoing commitment to diversity and inclusion and marks the sixth time Kellogg has been named to the list.
Kellogg recently announced its 13th consecutive year of growth in its U.S. supplier diversity program, surpassing the $350 million mark, and has experienced a nearly 6-fold increase in spending in the last 10 years. The program also helps to support local communities by working with more than 200 companies owned by women, people of color and veterans with disabilities.
"We’re working to build a stronger Kellogg by fostering an inclusive culture that leverages diversity as a competitive advantage," said Mark King, chief diversity officer for Kellogg Company. "Along with our supplier diversity initiatives, we’ve also made significant strides in reaching that objective by embedding diversity and inclusion throughout all levels of our organization. We’re honored to be recognized by Black Enterprise once again for these efforts."
In case you missed it, Target shows its baby bump
A partnership between New York designer Liz Lange and Target has contributed to a transformation of the maternity wear market over the past decade, according to Target’s hometown newspaper the Star Tribune.
A recent article on the partnership and its success quoted Lange and even got SVP Trish Adams to hold still for a photo shoot at a downtown Minneapolis store.
“There has almost been a revolution in terms of our society in the past decade among pregnant women, and I’m thrilled to be leading that charge, or at least be a part of it," the Star Tribune quoted Lange as saying.
The designer recently celebrated the 10-year partnership with a party last month at the Glasshouses in New York City’s hip Chelsea neighborhood, according to the paper, and there were appearances by pregnant model/actress Molly Sims and celebrity designer and Target collaborator Nate Berkus.
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