Exclusive Missoni goods designed for discounter retailer Target flooded online marketplaces this week, proving that an appetite for bargain-priced luxury goods never seems to go out of style.
Target launched launched its limited edition line on Tuesday to a fervour typically seen on major shopping holidays such as Boxing Day or Black Friday. Eager consumers snatched up merchandise at U.S. store locations and on the company website, which crashed several times throughout the day.
Soon after the line's 6 a.m. launch, Target merchandise emblazoned with Missoni's trademark zig-zag design began flooding online marketplaces. As of Thursday afternoon, an eBay Canada search for "Missoni for Target" yielded 8,983 results.
"The response has been unprecedented," said Target Corp. spokesperson Joshua Thomas. "This is definitely the largest designer collection we've ever had."
Some web-savvy consumers hoping to turn a profit have been selling the goods for more than double the price found at Target stores. An out-of-stock Missoni travel tote that retailed for about $50 US at Target is currently selling for close to C$190 on eBay Canada's website.
Despite a global economic downturn still nagging retailers from a 2008 recession, Thomas said he isn't surprised by the buzz surrounding the designer partnership.
"Given their limited quantity, these items become somewhat like collectibles," he told CTVNews.ca.
On Tuesday, Missoni aficionados stampeded into Target stores across the U.S. eager to get their hands on the 400-piece collection by the Italian designer. Online shoppers crashed Target's website several times in their pursuit of the limited edition clothes, bikes, luggage and houseware.
Even celebrities who tried accessing the collection online were faced with outright disappointment.
Actress Mindy Kaling of "The Office" fame took to Twitter to voice her frustration at not being able to access Target's Missoni collection online.
She wrote "@target broke my heart today when I could not access their site once in 9 hours for Missoni."
Her first tweet was soon followed by a short admission of defeat: "@target is totally sold out of Missoni and the only way to get it is from extorting eBay trolls??"
Generating demand with an exclusive designer brand was a wise move for both Target and Missoni, said the director of a fashion consulting agency based in NYC.
"If a designer collaboration is done correctly, it really does benefit both parties," said Jed Wexler, managing director of Eight-Eighteen Strategies.
Wexler points to the success of high-end designer Issac Mizrahi's line for Target, noting that a limited partnership can drum up business for the designer and the discount retailer.
"The high-end designer gets greater exposure to a wider audience. It's also incredible marketing for the retailer, it gives them a cool factor," he told CTVNews.ca on the phone from New York City.
Though Wexler notes that designer-discounter collaborations may sully the prestige of a luxury brand, he said that Target was right to limit the availability of their line.
"The exclusivity is what increases the demand for these products," he said.
Target had planned to continue selling the line into October at all their 1,700 U.S. stores. Merchandise, however, is selling out quickly and Thomas says the company doesn't plan to restock it.
With files from The Associated Press
