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Target Corp. will unveil three new ranges of lingerie and nightwear next month, defying Victoria's Secret as the long-time leader in the industry battles sales slumps and changing consumer tastes.
The retail giant will launch three brands: Auden for intimate friends, Colsie for casual wear and Stars Above for nightwear. Meanwhile, Target will eliminate its brands of nightwear and nightwear, Gilligan & O 'Malley.
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Target said the new lines would be affordable and of varying sizes, with bras selling for $ 22 or less. The company expects the three brands to exceed $ 1 billion in sales in their first year, the Wall Street Journal reported.
"In nightwear and nightwear, we know our customers want to be at their best and we believe that Target could offer even more to current and new customers," said Target Senior Vice President Jill Sando. A press release. "From new brands and experiences to a campaign celebrating women of all shapes and sizes, we want to create an ultimate destination for our customers – an inviting and inspiring destination that allows all women to feel at home. comfortable and confident. "
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| TGT | TARGET CORP. | 73.23 | 0.98 | + 1.36% |
| KG | THE BRANDS INC. | 27.37 | 0.31 | + 1.15% |
| AEO | AMERICAN EAGLE OUTFITTERS, INC. | 19.98 | 0.01 | + 0.08% |
Target said it had consulted "hundreds of real women of all ages, shapes and sizes" when designing new clothing lines.
An industry leader, Victoria's Secret's marketing campaigns have been criticized in recent months as more and more businesses embrace body positivity and inclusivity. Brands such as Aerie, owned by American Eagle, experienced rising sales after adopting casual styles and avoided airbrushes in commercials.
The high-end women's clothing company announced last August that it would close 20 stores due to weak sales. Brand president Jan Singer resigned last November, shortly after Victoria's Secret marketing director Ed Razek made controversial remarks about why the brand did not include transgender models. or plus size in his annual fashion show. Razek is then excused.
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Despite slowing sales and increasing competition, Victoria's Secret still holds four times the market share of the second largest women's underwear company in the United States, according to Euromonitor data cited by the Journal.
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