The brand is the most powerful strategic tool. What happens when two brands form a partnership?
It can work marvelously well or fail terribly and even hurt the brand. In the case of Target and Missioni, it proved quite effective. What made it work? The strategy was implemented correctly.
Partnership:
Missoni: Is an Italian fashion house known for it's patterns of stripes, geometrics, and abstract florals in a kaleidoscope of colors.
Target: An American retailing company, the 2nd largest discounted retailer
Strategy:
Target partnered with Missoni to offer exclusivity on a mass scale. Items included apparel, home accessories, and sporting goods (yes, a bike)-- all Missoni.
On the day of the launch for the collection, items were sold out before noon, and Target's website crashed due to the high volume of traffic generated by the e-commerce.
With limited access and supply to the collection, people were taking about it non stop. Actually, they still are! That's the success of the limited edition. Missoni most likely wanted to expand it's presence and exposure to the American market. It created a frenzy, supplied a limited amount to the huge demand and thus obtained new consumers of the brand.
Although, realistically in this economy, the bracket of the market that can purchase haute couture fashion is small. We will probably begin to see more and more initiatives such as the one Missoni rolled out with Target. For example, Karl Lagerfeld launched a product for Macy's Impluse department in August. The next designer to partner up with Macy's will be Giambattista Valli , launch expected in October.
What are you thoughts on branding and fashion for the future?
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| via Target |
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| via Target |
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| via Target |
Very insightful!
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