Target’s exercise clothes brand, All in Motion, amassed $1 billion in its first year of operation, according to a company statement. The brand’s success can be largely attributed to the COVID-19 pandemic which started shortly after the brand was launched. As a result of the pandemic, many people were forced to stay home, increasing the need for exercise and workout clothes.
Another factor that helped the brand grow is the company’s same-day delivery and all-inclusive workout clothes for people of all sizes. The All in Motion brand is not the only exclusive brand of Target; the retailer has a variety of exclusive brands across all of its products. About 10 of these brands have amassed over $1 billion in sales. One of the retailer’s top executives, Jill Sando, described how reliant she and her colleagues have been on the activewear brand products.
“It’s an internal joke now that we don’t just wear the clothes for exercises, they have been our regular work outfit,” she stated.
The line offers products ranging from sports bras to tights and mats. The retailer has proven itself distinct with the range of products it offers, as well as starting over 30 exclusive clothes, gadgets, and food brands. In 2020, four of Target’s brands amassed over $2 billion in sales. As a result of the huge sales in the brands, Target recorded $6 billion in sales in the first, second, and third quarters of 2020, Star Tribune reports.
Target’s clothing brands, which include lines for women, kids, and men, have been the company’s most successful brands. In apparel sales, Target had an increase of 10% in sales when compared to the sales from the same period in 2019. Currently, Target is valued at over $94.58 billion, and its shares have increased by more than 60% in just a year.
As the vaccination roll-out continues, many in the business world are waiting to see if Target’s sales will keep climbing or plummet. But it is certain that the company will not suffer a great loss, especially not its All in Motion brand which has products that are mostly cheaper than $30. Sando said the price of the brand’s products is over 70% lower than what brands of competitors offer.
Sando also explained that Target is assured of a steady winning streak in increased sales as it would ensure that its products remain exclusive, affordable, and of great quality. The company also pledges to keep making products that can be used by people of different sizes.
Paul Lejuez of Citigroup said that the fact that Target was able to keep its stores open during the lockdown has worked well for it, unlike some of its competitors that had to close their stores. He added that many retailers will be closing down some of their stores permanently giving more growth opportunities for off-mall retailers such as Target.
Source: cnbc.com
