Missoni for Target: When Your Biggest Problem is Selling Too Much ProductPosted: September 19, 2011
It’s a nice problem to have, and it demonstrates that even in tough economic times good products with a strong following will do well. This past Tuesday Target launched its Missoni for Target to a fervour usually seen on major shopping holidays such as Boxing Day or Black Friday. Shoppers snatched up merchandise at U.S. stores and on the company website, which crashed several times throughout the day. The line included women’s, men’s and children’s clothing; kitchen accessories; travel items; bedding etc. If you want to look at the stuff you cannot buy (it’s all sold out and it was a limited issue) you can surf to this site: http://www.target.com/c/Missoni/-/N-5ouwb
“The response has been unprecedented,” said Target Corp. spokesperson Joshua Thomas. “This is definitely the largest designer collection we’ve ever had.”
Some folks hoping to turn a profit have been selling the goods for more than double the price found at Target stores. An out-of-stock Missoni travel tote that retailed for about $50 US at Target is currently selling for close to C$190 on eBay Canada’s website.
Missoni aficionados stampeded into Target stores across the U.S. to get their hands on the 400-piece collection by the Italian designer. Even celebrities who tried accessing the collection online were faced with disappointment.
Generating demand with an exclusive designer brand was a wise move for both Target and Missoni, said the director of a fashion consulting agency based in NYC. “If a designer collaboration is done correctly, it really does benefit both parties,” said Jed Wexler, managing director of Eight-Eighteen Strategies.
Though Wexler notes that designer-discounter collaborations may sully the prestige of a luxury brand, he said that Target was right to limit the availability of their line.
“The exclusivity is what increases the demand for these products,” he said.
Target had planned to continue selling the line into October at all their 1,700 U.S. stores. Merchandise, however, is selling out quickly and Thomas says the company doesn’t plan to restock it.