Dive Brief:
- Adding another private-label product category, Target debuted its first kitchen brand, Figmint, on Tuesday. The 250-item line will go on sale on Sept. 24, according to a company press release.
- The brand will feature products such as mixing bowls, a cast iron Dutch oven, kitchen utensils, food storage, a cutting board, pots and pans. Pricing for products starts at $3.
- Target did not use plastic in over 95% of Figmint’s product packaging. The retailer worked with occupational therapists to make easy-to-open packaging and exposed grips and handles, enabling consumers to easily lift and carry the goods while shopping, according to the announcement.
Dive Insight:
Target developed its cookware brand to serve customers who were tired of the preparation and cleaning needed for at-home cooking. In line with its strategy to sell more affordable items, more than half of the kitchen items are priced below $10.
“What I love about Figmint is that this brand meets so many different guest needs. It’s beautiful design at amazing prices,” Jill Sando, executive vice president and chief merchandising officer at Target, said in a statement. “From product to packaging, the collection makes the kitchen more accessible to every home cook.”
Though this is the retailer’s first venture into kitchen items, Target has had a track record of creating and growing private-label brands in other product categories. With the addition of Figmint, Target now has 49 owned labels including Cat & Jack, Mondo Llama, Threshold and Universal Thread. In 2021, the retailer said that its activewear brand, All in Motion, generated $1 billion in revenue in its first year.
Following its previous success, Target is continuing to add more private-label brands to its product assortment. Last month, the retailer launched its Good & Gather private-label food brand for toddlers and infants.
A Numerator report released last year found that Aldi and Target’s food brand Favorite Day were the top fastest-growing private label brands based on household penetration in Q2 2022 compared to the previous year.
