Two of the most popular companies in the United States - Walt Disney Co and Target - are joining forces that will set the stage for the launching of 25 Disney shops inside Target sites nationwide on October 4.
In a statement, Walt Disney announced that the collaboration will create a "shop-in-shop" that will showcase a selection of over 450 items from Disney, including over a hundred products exclusively available at its locations.
Cities like Chicago, Denver, and Philadelphia where Target has branches will feature the Disney products.
Disney's stand-alone stores have recently closed in its Florida and West Virginia locations. In a separate announcement Sunday, Target disclosed it would open a shop at Walt Disney Resort in Florida in 2021.
In a media briefing, Disney Parks and Products chairman Bob Chapek, the company's customers are always telling them that "they want more Disney" and that they believe that "by extending our footprint to Target stores we are going give our customers that opportunity."
For Target chief executive officer Brian Cornell, they believe the merger of Disney's unparalleled entertainment retail platform "will create unique and inspiring experiences for our guests." The merger, Cornell said, reflects what the two companies can do to "create value" beyond the conventional retail framework.
The Disney stores will have an average of 750 square-foot of space and will be set up near Target children's wear and toy departments. Customers can choose and buy Disney specialty products from Star Wars, Pixar, and Marvel at select Target shops, Target said in a statement.
The Target announcement was made after it exceeded Wall Street analysts' predictions for earnings and hiked its full-year forecast, as the company's investments for same-day shipment and pickup services pushed traffic up to its shops and online stores.
Cornell said that there's a strong overlap between both Target and Disney followers and that the companies now look forward to reaching out to Disney customers "when and where they want to shop." This gives both companies to bring their brands together and delight their clients for years to come.
Being at the helm of Target since 2014, Cornell has steered the company from a slump that saw its margins decline, paving the way for a major rebranding that has Target restructure operations at hundreds of shops since then.
