“People like Lego said, I'm going to give all the inventory that's short to Target, because they're the destination. They're my best partner.”
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Said on Afford Anything | Get Smarter With Money
Afford Anything | Get Smarter With Money · Steve Jobs Hated the Name “Genius Bar.” How He Came Around, with Ron Johnson
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At Target, shifted toy department strategy from broad assortment to curating the most wanted toys (e.g., Lego) to become a destination
“People like Lego said, I'm going to give all the inventory that's short to Target, because they're the destination. They're my best partner.”
“He's betting on the next day to value creation is IP to franchise conversions across toys, games, theme parks, and streaming.”
“We could offer twice as much assortment… after six months where customers had to adapt to what's going on at Target, the business was fabulous.”
“If we can't demonstrate value to a client we'll shake hands walk away… we do a minimum viable product… if we can't solve that problem… we take our toys and go home”
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