Target (NYSE: TGT) launched its “All in Motion” workout clothing line just a year ago, two months later the Covid-19 pandemic struck and people turned to athleisure wear amid lockdown. The line which includes everything from sports bras to hand weights and yoga mats, is now “a billion-dollar brand.”
“We like to joke about this internally that it’s become our guests’ favorite work wear, not just workout wear,” said Jill Sando, Target’s chief merchandising officer for style and owned brands. “Our owned brands are truly a differentiator for Target, and in its first year, All in Motion stood out in the marketplace.”
In a press release, Target said that the brand became popular as families started spending more time at home than ever before.” All in Motion is one of 10 Target brands that brought in USD1 Billion plus in sales during fiscal 2020.
Target has launched more than 30 private-label brands for clothing, home and other areas as a means of standing out from the competition and increasing profitability. Four of the brands reached USD2 Billion in sales last year including: kids clothing line Cat & Jack; Good & Gather, a food and beverage line; Up & Up, a personal care and household essentials brand; and home decor brand Threshold.
The success of the private labels aided the company in achieving USD6 Billion in market share within the first three quarters of 2020.
Target shares rose 63% in the last year, as of Friday’s close. The company’s market value is USD94.58 Billion.