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The brand has faced a significant setback in the U.S. as retailer Target has ended a relationship that has spanned two decades, beginning in 2004. This decision has led to the brand laying off several employees.
Target stated, “We continually evolve our roster of external partners based on changing business and brand needs. At this time, we’ve decided to conclude our partnership with the brand. We’re grateful for all that has been accomplished throughout our collaboration.” The brand has not issued any comments on the matter.
Despite a recent sales decline, Target’s shares have risen due to higher earnings. Retailers across the U.S. have been grappling with supply chain challenges and the growth of online shopping, similar to trends seen in other markets.
According to Ad Age, the brand’s revenue increased to approximately $70 million in 2021, up from around $50 million in 2020.