Target Plans To Shed It's Discount Products To Become More Luxe
There will be 80 job cuts in the process.
In breaking news, Target has announced it will make 80 roles redundant to prepare for its new strategy of better quality clothing, fashion and home furnishings.
The Australian reports staff at Target were informed about the restructure this morning and that the changes will include management roles in buying, sourcing and marketing in the head office.
The decision was made so that Target can ‘rebrand’ itself away from the discount department store sector.
Speaking to the publication Kmart managing director Ian Bailey says:
"It is really about the acceleration of the transformation of Target, to do that we know we need to make ongoing improvements to the offer both in terms of the product, the stores and online, and so what we have done is reorganise our teams to go after that."
The aim is for Target to sell better quality products at a good price whilst standing apart from Kmart, Big W and Best & Less.
"So when you are looking at who we would benchmark ourselves against I think the benchmark is less about Kmart and Big W it is much more about the specialty retailers and others who are out there who sell similar products at a higher price."
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