QVC WILL DISTRIBUTE DIAMONIQUE TO TARGET
Byline: David Moin
NEW YORK — In an unusual partnership, QVC will begin distributing its proprietary Diamonique fashion jewelry to all Target stores beginning in April.
The deal, disclosed to WWD on Friday, confirms a report in these columns March 14, that the West Chester, Pa.-based QVC was in a deal with the Minneapolis-based Target discount chain.
This is the first time QVC has wholesaled any of its fashion products and only the second time QVC has been involved in wholesaling at all. The company does license its Northern Nights luxury linen and comforter collection.
The deal links two companies operating through different channels of distribution, but that probably share many customers. It’s also a deal born out of strength, with both companies recently showing solid volume gains. If the arrangement proves successful, it could led to deeper ties.
QVC said that the 991-unit Target will initially sell 22 Diamonique stockkeeping units, and that Target will carry the Diamonique line in all jewelry display cases with the tag line: “Diamonique Exclusively from QVC.” Items will be priced from $20 to $200.
QVC will begin promoting Diamonique at Target during its April programming to coincide with the in-store launch, and Target will promote Diamonique jewelry in its national circulars and through in-store signs.
“Over 66 million people made a purchase from Target in the past six months,” said Darlene Daggett, QVC’s executive vice president of merchandising, in a joint statement. “That’s a lot of foot traffic and exposure for one of our most popular proprietary brands.” Jewelry is QVC’s biggest-selling category.
“We recognize that the power of QVC doesn’t just lie in its ability to sell goods, but to build demand for brands,” said Kim Maguire, senior vice president of Target Merchandising, in the statement. “With its reach into 77 million U.S. homes and its enormous credibility within the jewelry industry, we are looking at this initiative as an opportunity for two great retailers to fuel each other’s growth.”
QVC markets brand name products in home furnishings, licensed products, fashion, beauty, electronics and fine jewelry, and sells to the nation via the 24-hour QVC home shopping TV channel and qvc.com.