Target is putting a lot of sweat into getting back that old “Tar-zhay” magic.
The beleaguered big box brand announced today that it’s collaborating with SoulCycle, the high-flying (er, spinning?) fitness company with a line of dual-branded clothing, wellness shops within some of its stores and free spinning classes in 10 cities.
Target has a history of partnering with designers and coveted brands, but it’s the first time it’s hooking up with a fitness company. The retailer told Well and Good that it hopes this collaboration echoes the “same level of excitement” that’s triggered when it partners with other brands, like the website-crashing and shelf-clearing ways of Missoni clothes, for example.
The clothing collection consists, obviously, of athleisure wear. Online, it’s selling a women’s muscle tank for $29 or a men’s t-shirt for $29 — all designed with both the Target and SoulCycle logos to shore up that cultish status. There’s also wellness items from other brands in the store, like a Fitbit.
As for the classes, Target is offering normal SoulCycle classes for free for three days at pop-up shops in 10 cities, like Los Angeles, Houston and Seattle in late January through mid-February. The classes, which normally cost $35 a session, will have sign-ups online and will likely go fast. Each pop-up shop will have six classes a day.
Target could use some of SoulCycle’s mojo. The ever-expanding spinning brand has a devoted following and announced last summer that it’s filing for an IPO. While it’s unclear when SoulCycle will start trading or how much each share will cost, it’s planning to raise another $100 million with $151 million in revenue (a jump of 20 percent since July).
Contrast that to Target’s rough two years, when it closed several stores and reported weak earnings. It’s third quarter earnings from November signaled it’s experiencing a turn around, fueled by new digital initiatives, but a transformation doesn’t happen overnight, which SoulCycle riders can attest to.