Levi Expands Target Partnership With First Home-Goods Collection
(Bloomberg) -- Levi Strauss & Co. is expanding its partnership with retailer Target Corp. well beyond blue jeans.
The agreement will mark Levi’s first home-goods partnership, with new products including tableware and pillows, the companies said Tuesday in a statement. The tie-up will also broaden its Red Tab brand within Target stores, with in-store displays planned at more than 500 locations by fall.
Levi has been mapping out a future that depends less on discount sellers such as TJ Maxx and Sears. The San Francisco-based company, which already sold clothes through Target, has started offering higher-end lines at Nordstrom Inc. and opened in-store shops at Macy’s.
The denim maker’s shares jumped on the Target announcement, reversing losses and rising as much as 4.3% before paring the gains. Target fell 1.3% at 2:42 p.m. in New York.
Denim labels have been gravitating toward home goods lately. On Monday, rival Wrangler jeans, owned by Kontoor Brands Inc., said it’s linking up with Pottery Barn Teen to start selling home products like denim quilts and rugs.
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