This is a juicy piece of news. Targets web site crashed yesterday due to the demand for the low-priced and novelty items made available by Missoni. A huge testament to the power of the BRAND.Target is without a doubt the most aggressive “low-priced” player in the big box field. I have to hand it to them they are brilliant, at a time when everyone is crying that the middle class is gone they decided to “give em what they want” DESIGNERS!…Design houses that before this were only for the couture crowd are succumbing to the lure of “Cheap Chic”.The internet continues to change everything. I can’t help but wonder how this will play out, Missoni has made a daring move into the world of mass appeal, a move that could only be made due to their couture reputation. Will retailers like Bergdorf Goodman still sell their designs for thousands? Will a woman who spent 8 grand for a Missoni Zig Zag sweater,still support the brand? and does Missoni care? probably not. Once a design house enters the world of mass appeal there is no turning back. As the demand increases the focus of the design house will invariably change as the couture customer moves on to more “exclusive” merchandise. I cannot condemn Missoni for the move, six thousand sales at forty bucks made by Target in an hour is real tempting as opposed to one or two eight thousand dollar sweaters in a month. Does this end couture? No, the only way to enter this realm is through the high-profile fame that the exclusive and unaffordable designers can lay claim to. The internet has opened Pandora’s box by providing immense access to potential customers,it will be very interesting to watch the residual events that will develop due to Targets recent success. How long before Ralph is in WalMart?
- Missoni madness: Where you can still buy items (cbsnews.com)
- MMMMmmm Missoni for Target! (radiotaylor.wordpress.com)
- Target’s Missoni launch: Empty racks, crashed website, furious eBay bidding (business.financialpost.com)
- The Target/Missoni Dilemma; 3 Ideas to Rebuild Loyalty (miriamgomberg.wordpress.com)