Walt Disney (NYSE:DIS) and Target Corporation (NYSE:TGT) have made a joint statement regarding their business plans. The two business giants say the collaboration they struck on Sunday will be a progressive one.
The focus on opening up new stores
They are targeting opening up about25 Disney stores on a nationwide scale, and all of them will be inside the select Target locations. This will be happening starting October 4. If all moves according to plan, later in October the following year they will be setting up 490 more additional stores.
Disney sees the “shop-in-shop” as a great business strategy that will see them sell their wide range of leading products. They have in store about 450 different items they want to sell to their customers. The company says that the figure includes about 100 products it had been selling recently in most of its business locations.
An official working with Disney has revealed that they will be unveiling their products inside Target. This will be taking place in several major cities, including Chicago, Denver, and Philadelphia.
Disney prides itself for having a large number of stand-alone stores. However, it has decided to close down a significant number of its locations in Florida and West Virginia in this particular year.
Thoughts of the chief executive
Target made a separate announcement revealing that it would soon be opening up a new store. That will be at the Flamingo Crossings Town Center in the State of Florida.
Thechairman and chief executive officer at Target Brian Cornell opines, “We believe the combination of Disney’s unmatched entertainment and storytelling with our omni-channel retail platform will create inspiring and unique experiences for our guests.”
He went ahead to add that the new partnership is a real reflection of the value they seek to create for their guests. It is also the showcasing of the strength of their assets and platforms in spearheading their growth. The official thinks that it is time the two of them forget the traditional model and focus on new business strategies.
Target is performing better after it went through difficult times earlier own. Its profit margins had gone down in the past, and it had to re-think its business strategies. Currently, it has been reporting increased traffic in its stores and websites.