What’s the story?
- Target is undertaking a multi-year transformation of its home category to boost style and value.
- The company will streamline private label home brands, emphasizing the Threshold brand with a relaunch and expanded in-store presence.
- By June, 75% of decorative accessories will be overhauled, with significant changes planned for bedding, furniture, mattresses, and rugs.
MINNEAPOLIS – Target is already moving quickly to revamp its home assortment – but many more changes lie ahead.
In the quest to reclaim its style authority in home, the company is moving category by category to boost its style quotient and value proposition, according to Cara Sylvester, who was promoted to EVP and chief merchandising officer last month.
“Home is where our design ethos first became tangible – but it is also a space where we lost our way,” she told investors during the company’s annual financial community meeting this morning. “Transforming this category will be a multi-year journey.”
In a significant change, Target plans to streamline its private label home brands to put a major focus on Threshold, its most productive label in the segment. This summer, the company will relaunch the Threshold brand, giving it sharper curation and clearer storytelling. Target will also roll out a Threshold brand space in more than 200 stores.
In addition, work to refresh and reposition the classification home businesses is underway.
By June, Target will have overhauled 75% of its decorative accessories, which include everything from candles to throws. By fall, Target will have made significant changes to the bedding category.
“We’re leaning full in on furniture, mattresses and rugs,” said Sylvester, adding that the company is doing so with an eye to enhancing aesthetics while also balancing its inventory exposure.
Similar work is taking place in other key categories. In apparel, Target will intersperse its major seasonal capsule collections with a series of curated brand launches to create an urgency to shop and drive traffic.
The merchandising work across the store is a key pillar in the company’s strategy to transform Target stores into what CEO Michael Fiddelke describes as “the most delightful experience in retail.”
He added, “We’re playing to our strengths.” Home, he said, “is where we know we can win, and we’re reimagining it toward greater relevance and differentiation.”
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