- Target (NYSE:TGT) is teaming up with Shopify (TSX:SHOP) to offer a selection of its popular merchants and their products on Target Plus
- Target Plus is the retailer’s invitation-only, third-party online marketplace and select Shopify merchants will feature online and in Target stores nationwide
- The partnership is expected to bring growth opportunities for new brands and expand Target Plus’ assortment
- Shares of Shopify Inc. opened trading at C$89.55, and Target Corp. opened trading at C$201.56
Target (NYSE:TGT) is teaming up with Shopify (TSX:SHOP) to offer a selection of its popular merchants and their products on Target Plus.
Launched in 2019, Target Plus is the retailer’s invitation-only, third-party online marketplace and select Shopify merchants will feature online and in Target stores nationwide.
Target is the first mass retailer to work with Shopify to bring select merchants’ products into its physical stores in the coming months.
The partnership is expected to bring growth opportunities for new brands and expand Target Plus’ assortment.
“It’s table stakes for merchants to be everywhere customers are, and as the world’s leading retail operating system, we make it easier and more accessible for brands to sell directly to their customers on the best channels,” Harley Finkelstein, president of Shopify said in a news release. “Partnering with Target helps high-growth brands like Caden Lane and True Classic reach millions of new loyal customers and take their business to the next level.”
With headquarters in Ottawa, Shopify is a global commerce company that provides platforms and services that are engineered and deliver a shopping experience for consumers online and in-store.
Based out of Minneapolis, Target is a big box retailer that sells products through its nearly 2,000 brick-and-mortar stores and its digital channels.
Shares of Shopify Inc. (TSX:SHOP) opened trading at C$89.55, nearly 7 per cent higher than this time last year, while Target Corp. (NYSE:TGT) opened trading at C$201.56, more than 13 per cent higher than this time, last year.
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(Top image: Shopify)
