This was a premeditated, purposeful vision we believed in,” Giannulli told WWD from his design studio here, an airy, open-trussed space chicly decorated with braided leather rugs and blacked-out Schwinn bicycles stacked like sculpture against a wall. But I pursued Target because I believe this model is the future. “There is this notion floating out there that I had no choice. Or that it came as a bailout for his troubled wholesale operation.
Though he wants to set the record straight on one issue: the irksome suggestion the Target deal, signed as a three-year exclusive license, was lucky. In his first year since licensing his namesake brand to Target, the gamble has raked in more than $700 million for the chain, according to industry sources. “It’s a home run in terms of the level of merchandise in the store, by the buzz in the industry and at the consumer level.” Giannulli was among the first to ditch capital intensive inventory, markdown hassles and global production nightmares in favor of direct-to-retail licensing. “Any specialty retail or department stores should be taking some serious notice of what Target is doing,” Wachovia Securities retail analyst Joseph Teklits noted of Target’s deal with the Mossimo brand. Industry analysts and observers hold up the deals the mega-retailer has made with Mossimo Giannulli, Michael Graves and recently Stephen Sprouse as models for the future of designers and apparel retailing. In the process, it’s becoming a designer haven.Ĭall Target the hassle-free way for designers to build huge volume.
is part of the mass market retail revolution.
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