Editors' pick: Originally published Jan. 7.
On Thursday, the Minneapolis-based discount retailer, which rose to fame in the mid-2000s by working with trendy designers to launch clothing lines at its stores, said it's teaming up with SoulCycle to debut a limited-time collection. SoulCycle will release a small collection of mostly unisex apparel in Target stores, including a sweatshirt ($49), sweatpants ($49), tank top ($29) and men's T-shirt ($29). The prices for the items in the Target collection are, in some cases, less than half the price those offered on SoulCycle's website.
The two companies have also joined forces to offer people free pop-up fitness cycling classes (usually $34) in ten cities -- Houston, Seattle, Washington D.C., Atlanta, Denver, Nashville, Miami, Chicago, Minneapolis and Los Angeles --between Jan. 22 and Feb. 14, in addition to pop-up shops hawking wellness products in the participating stores.
SoulCycle is the red-hot exercise studio known for its pricey cycling workouts ($34 a class) and expensive apparel offerings that fanatical class takers just can't seem to resist buying. In a given year, SoulCycle releases 14 to 15 apparel collections, and according to the company's S-1 filing in December ahead of a prospective initial public offering (IPO), those collections represent a "significant" source of revenue.
"SoulCycle apparel has become the uniform of choice both inside and outside the studios -- our silver retail bags can be seen in airports, on street corners and in households across the country," the company boasts in its filing. The company currently has 55 studios spanning nine states.
By collaborating with Target, SoulCycle is showing would-be investors the brand has the power to expand beyond gym studios and reap sizable sales as a result.