Discount store operator Target Corp. (TGT) said Friday that it will partner directly with U.S. specialty stores and boutiques to offer limited-edition collections for its customers through a new design program known as "The Shops at Target". The move is expected to bolster the company's selection of unique merchandise and is seen as part of the company's efforts to better compete with rivals, including Wal-Mart Stores Inc. (WMT).
The first flight of "Shops at Target" will debut on May 6 at all Target stores and Target.com, featuring exclusive collections from five different specialty stores across five different product categories.
Target will partner with the Candy Store, Cos Bar, Polka Dog Bakery, Privet House and The Webster to offer the limited-edition collections. The company noted that the collections will reflect each shop owner's unique perspective, offering Target's guests the opportunity to experience each shop's distinct aesthetic by visiting their local Target store or Target.com.
Brian Robinson, director of fashion and design partnerships, Target said, "With The Shops at Target, we're building on that sense of discovery by offering our guests a chance to experience one-of-a-kind specialty stores and boutiques through collections that have been specifically tailored to their wants and needs."
While The Candy Shop is a premier candy boutique based in San Francisco, Cos Bar is a perfumery with collection of body care products, bath accessories, beauty tools, manicure essentials and cosmetic bags.
Polka Dog Bakery is a treat boutique for dogs , specializing in baked goods and accessories, while Privet House is a seller of antique and vintage furniture, artwork and mirrors for the home and garden. Webster is a multi-brand boutique devoted to luxury fashion boutique.
Target said that the five collections total nearly 400 exclusive products, with prices ranging from $1 for a nail file to $159.99 for an online-only pouf for the home.
Target introduced its first design partnership in 1999, through an ongoing collaboration with renowned architect Michael Graves. To date, the retailer has worked with more than 80 design partners. Target said that in addition to "Shops at Target", it will continue to offer affordable design through its long-standing design collaborations and stand-alone, limited-edition designer collections, including the Jason Wu for Target, launching on February 5.
TGT closed Thursday's trading at $49.81, up $0.78 on a volume of 7.09 million shares.
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