Originally introduced this summer, JoyLab is one of Target’s new in-house labels. The brand, which is set to debut in stores and online starting Oct. 1, provides consumers with stylish, yet functional pieces that can easily transition from the gym to other leisure activities.
Combining street style elements with fabric technology, JoyLab’s pieces include bodysuits, leggings, jackets, tops and sports bras. Each garment is designed to keep consumers comfortable and sweat free throughout the day. The line will feature advanced details, including mesh paneling, strappy-back detailing and ruched waistlines to booth boost style and performance. Available in sizes XS to 4X, JoyLab pieces will retail from $14.99 to $44.99.
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JoyLab’s debut is timely with Target’s apparel refresh and three-year investment plan.
In response to lagging sales and a changing retail environment, Target has already moved to replace a few of its timed-out apparel brands and introduce new options in multiple categories, including kid’s line Cat & Jack, print-focused womenswear line A New Day and modern classic men’s line Goodfellow & Co. The aim, with these new exclusive brands, is to provide consumers with relevant and versatile fashion at affordable prices. In February, Target said its new apparel brands will generate $10 billion from 2017 to 2019, potentially placing Target ahead of the pack when it comes to a diverse fashion lineup.
Although Target has its eye on improved sales and a stronger e-commerce presence, some analysts said the retailer will have to think more outside the box to compete with other major retailers, including Amazon and Walmart.
“Private labels are a good strategy but not enough,” Morningstar analyst John Brick told CNBC. “They should maybe continue on that path but also look for exterior angles.”
In addition to revamping its business strategy, Target is also improving its labor outlook. On Monday, the retailer announced that it will raise its minimum hourly wage for more than 100,000 team members to $11 next month, with a commitment to boost the minimum hourly wage to $15 by the end of 2020.
As reported by CBS News, the average wage for a cashier at a retailer with at least $500 million in sales is $9, while the federal minimum wage is $7.25. The move to $11 an hour makes Target the fifth highest paying retail employer behind Costco, which takes the lead at $13, according to the news source.
Target said it raised the minimum wage in response to employees’ economic and social needs.
“Target has always offered market competitive wages to our team members,” company CEO Brian Cornell said. “With this latest commitment, we’ll be providing even more meaningful pay, as well as the tools, training and support our team needs to build their skills, develop professionally and offer the service and expertise that set Target apart.”