Neiman Marcus is known for its high-priced designer goods and Target is known for carrying lower-end and lower-priced lines from many of those same designers, now the two company’s are partnering for a holiday sales bonanza.
Both Target and Neiman Marcus will sell the same 50-plus limited-edition items from big-time designers including Marc Jacobs and Diane von Furstenberg among others.
Items will included jewelry, clothing and even stationary that ranges in price from $7.99 all the way to $499.99. The average price per item will be just $60.
For Target the move makes sense, the company has long attempted to be the “cheap-chic” retailer of the 21st century. Target has made waves while offering designer items at rock bottom prices, often with sold out results that have angered desperate shoppers who have waited in line for hours.
As the Wall Street Journal notes, Target wouldn’t have likely been able to reel in 24 designers on its own but the Neiman name made the participation a no-brainer for many top designers.
For Neiman Marcus the store is hoping it can bring in customers that usually avoid its steep pricing. Many customers in my area refer to the company as “Needlessly Marked Up” because of its high-end goods.
The new design collection will launch on Dec. 1 and run for three weeks.
Who do you think is getting the better end of the deal, Target which relies on cheap high-end items or Neiman Marcus as it tries to bring in new customers to its overpriced retail locations?