Apparel Online Bangladesh Magazine September Issue 2018 | Page 64

RETAIL CURRENT HAVE YOUR SAY BREAKING NEWS Tell us your news by emailing at [email protected] To read the latest sustainability news, go to https://apparelresources.com/business-news/sustainability/  Target launches three new brands to tap millennials The expansion is followed by Target’s recent news of exiting its highest selling volume brands, Merona, Mossimo and the activewear brand C9 by Champion, with whom they had a contract since 2004. After launching 12 new brands in the last 18 months for menswear, womenswear, and home decor, Target is now upping its game to appeal the Gen Z with three new brands. These millennial-empowered brands include: Target’s first owned electronics brand, Heyday, which will offer a range of on-trend tech products such as quirky phone cases, headphones and speakers; Original Use, a menswear brand for streetwear-inspired clothing; and finally Wild Fable, a casual clothing brand for teens and young women. To explain their idea behind the three launches, Mark Tritton, Executive Vice President and Chief Merchandising Officer of Target, said, “Target is on a journey to reimagine our portfolio of owned and exclusive brands. We’re examining every aspect of our business to identify opportunities to better serve our guests. Through our research and in speaking with thousands of guests, we found that we could fill a white space in the market by bringing Gen Z and Millennial guests brands and experiences that are authentic to them, regardless of how they choose to shop. Wild Fable, Original Use and Heyday offer of-the- moment style and quality, two things that are important to these guests, as well as value.” Wild Fable aims to add value for money with its diverse size ranges, from 0 to 26W and prices under US $ 40. Its collection envelopes a punk-rock flair with plaid crop tops and matching pants in several colour choices, pink miniskirts and complementing tops, colour block and sleeveless denim jackets with stylised fraying, rolled up jeans and floral print dresses in blue. Original Use offers streetwear attires right from jeans with washes in versatile array of colours from ice blue to grey and black, to bomber jackets in camouflage print and simple button down shirts. Size ranges also cover Big and Tall variations and this merchandise is priced from US $ 10 to US $ 40. This expansion to target the Gen Z was the result of a recent National Retail Federation study that discovered that these groups want brands that represent their individuality and that around 98 per cent teens prefer shopping in bricks and mortar stores. A representative from Target said, “They see the shopping experience as a fun outing with friends or family. They appreciate the immediate feedback and like to explore without a commitment to buy. This audience also engages in online shopping for purchases and research such as size options and sharing with friends, which makes a seamless digital experience important.” Swedish label Odd Molly sets eyes on the US market Scandinavian brand Odd Molly is setting its eyes on the US market, the brand’s recent marketing and social media platform reforms along with retail expansion strategies, say so. to bikinis and tank tops. It also offers accessories like no-frills baseball caps, towels, shoes, lingerie, robes and sheets among the offerings. To start with, Odd Molly will first show at MAGIC, one of the most inclusive fashion marketplaces in the US. This will enable it to not only penetrate the specialty store market but also several popular department stores for Spring 2019 season, as per a spokesperson from the company. With four freestanding US stores in Colorado, specifically in Vail, Aspen, Denver and Boulder, it has showrooms and corporate offices in New York and Los Angeles each. The brand also plans to explore the Europe market and has recently made reformations in its corporate structure to adjust to these expansion strategies. Inspired by Los Angeles Skater Girl, the collection to be showcased features assortment of garments from ribbed sweaters and jackets Commenting about its expansion plans, Odd Molly’s CEO, Jennie Högstedt Björk, who shares the role with Sara Fernström, said network and create opportunities for international expansion in all channels. Sara has a large network of relationships and a solid experience in brand development and complex international restructures with an emphasis on e-commerce.” that, “Sara will readjust the business model for an increased digital focus and larger partner 64 Apparel Online Bangladesh | September 2018 | www.apparelresources.com Odd Molly is an omnichannel retailer that operates via 60 freestanding stores along with 600 wholesale accounts and distribution centres through 40 countries, all managed by their e-commerce website. Its style boasts of the Scandinavian roots as it is laced with bold colours and unexpected patterns in sportswear, accessories and bedding.