The discount retailer will be opening permanent Disney shops in several locations.
Teaming up with The Walt Disney Co., Target, with their headquarters in Minneapolis, has revealed the opening of 25 stores in and around New York selling branded Disney products from October 4, 2019. By the time October 2020 comes around, there will be 40 additional locations with Disney-brand outlets included.
Target has also planned a Disney-themed online experience on its website and is working on a new store for 2021, which will be located close to the Walt Disney World Resort entrance.
Brian Cornell, the CEO of Target held a conference call with reporters to say that the collaboration between the 2 brands was "A great fit".
These plans have only just been officially disclosed and have come at a time when Target is hoping to develop its strong sales ethic. Just the other week, the discount store raised its annual profits forecast, following positive second-quarter sales and profits. They have been revamping their stores, integrating new displays and brands.
With around 300 stores across the world, Disney is searching for new ways to win over customers when faced with falls in traffic at shopping malls. Chairman of the brand's Parks, Experiences and Products, Bob Chapek, stated that the Target brand has a 90% overlap with customers shopping at Disney.
Disney also has outlets in 600 stores belonging to J.C. Penney. However, unlike Target’s Disney shops, these are not store-branded and lack the range of products and interactive features.
In a media statement, Chapek said that the agreement with J.C Penney would continue and that the shops were running well, despite concerns that Penny is struggling.
Target has been selling Disney products for a long time and hopes that the new outlets for this brand will be around 750 square feet or 70 square meters in size. Their positioning will be conveniently close to the children’s clothing and toy sections.
Each store will have more than 450 products, including over 100 that previously could only be purchased at the brand's own retail outlets. The new stores will have music, interactive displays, the opportunity to snap photos and an area where customers can sit down and watch clips of the brand's movies.
Finally, the financial details of the New York deal have not been revealed.
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