Thursday, November 3, 2011
Mad over Missoni
Over the past few months, Target has been marketing a limited edition line of Missoni For Target brand items. The line consisted of furniture, home accessories, clothing, shoes, and glassware. Missoni was trying to market a variety of items compared to their usual designer line of clothes, shoes, and small accessories. On the launch date of the new line, as early as 7 a.m. lines were forming outside of Target stores, many women wanted to get ahold of the usually $600+ dresses and clothes for a twefth of the price. The demand for these lesser quality, mass produced Missoni items was through the roof, the launch crashed the Target website within an house, and shelves were empty in some store in as little as 20 minutes after opening. Some consumers wonder, how was this a good business call for Missoni? the highly sought after designer brand lost many avid supporters from before the Target days who believe that brand lost its luxury after releasing this line. However the Missoni owner, Margherita Missoni, is planning on launching another lower price scale line after seeing how in demand her cheaper price range products are. The madness didn't end with the Target stores even, a secondary market was created. Over 44,000 Missoni for Target items were on eBay the day of the launch selling at prices two to three times higher than their original price. Perhaps the oweners of Missoni should look into upping their prices on their lower quality goods to help find equilibrium because obviously, consumers are willing to pay big bucks for their new line just to own the coloful zigzags and other bright geometric prints.