Theory House's new business efforts traveled to Minneapolis last week where we met with Target and Best Buy to catch up about their portfolio of private brands. We were traveling with Chris Durham of My Private Brand, a thought leader in the private brand space, as part of a strategic partnership. What struck me about Target's headquarters was the palpable sense of innovation filling the hallways. It's no wonder that they have some of the most successful retailer-owned brands. Journeying from the reception area to our appointment we passed through Target's great hall where hundreds of employees were engaged in creative collaboration. The entire headquarters seems designed to encourage creative discovery.
The photo above is of Target Plaza Commons across the street from the company's corporate headquarters. The commons area occupies more than 25,000 square feet and includes an outdoor area with more than 20,000 square feet includes a basketball court and game area on the lawn. Target executives said the goal was to provide dynamic and flexible meeting spaces, especially for employees' well-being. The space – with a modern industrial look – features a gaming and video area, movable furniture, ping pong, a life-size chess board and a semi-secluded patio and gas grill. There are also showers, locker rooms, towel service, basketball and bocce courts and inside storage for 125 bicycles.
It's been a tough few years for almost all retailers, but the investments Target is making in its people seem to be paying off.