The New Target store in SoHo New York showcases fashion

In one of New York City’s hippest neighborhoods, Target unveils its latest efforts to keep up with trends and lead the way in fashion.

The Minneapolis-based retailer, which is in the middle of a turnaround effort and on the cusp of a CEO change, has given its large SoHo store at 600 Broadway a makeover.

The one-of-a-kind store, which opens Tuesday, will feature rotating merchandise, curated offers chosen by celebrities and influencers and other types of special programming, said Cara Sylvester, chief guest experience officer.

The SoHo store is part of a broader push by new CEO Michael Fedelke to restore Target’s reputation for style and sharp merchandise. When he was named Target’s next leader in August, he said it would be one of his top three priorities, along with improving the customer experience and deploying technology to make Target faster and more efficient. He is scheduled to begin his role in February, succeeding long-serving CEO Brian Cornell.

Target is trying to return to growth after nearly four years of stagnant annual sales due to self-inflicted challenges and a tougher economic backdrop. Store traffic and sales declined as shoppers responded to unsettled stores, out-of-stock and closed items and the company’s decision to roll back key diversity, equity and inclusion programs. Consumers across the country have also become more selective about purchasing discretionary goods, which has long been a sweet spot for Target, as they pay more for necessities like groceries, electricity and housing.

At a store preview event Monday night, Fedelke described the SoHo location as a “punctuation point” for Target’s sense of style and its plans for the future.

In an interview with CNBC, Sylvester said the store’s merchandise has completely changed. The site, which opened about seven years ago, attracted many shoppers and had strong sales, but mostly sold items found in drug and convenience stores, she said. She said she did not carry any Target clothing or home decor, which seemed out of the neighborhood and like a missed opportunity for Target.

“We said: This is style and fashion capital. We have to be able to showcase the best,” she said, recalling the inspiration for the project.

Sylvester said the store’s redesign took four months from start to finish as the company rushed to complete the project before the holidays. She added that she has remodeled the first floor of the store and plans to remodel the basement next year.

The SoHo store is reopening as holiday shoppers and tourists flock to the prime shopping district for holiday gifts and party clothes — and as Target chases sales across the country during the critical shopping season. It’s one of 42 stores the retailer has in New York City and nearly 2,000 in the U.S.

“The world is looking to New York to see what is new and what is next,” Sylvester said in statements during the launch event. “And we want them to look at Target when they see what’s new and what’s next.”

When customers enter Target’s SoHo store, they will enter a long red doorway that resembles the inside of Target’s Bullseye logo. The store area is called “The Drop” and Target will display curated merchandise there on topics that seem relevant to this time of year, Sylvester said.

Like most stores, the rotating area will be replaced about every four to six weeks, she added.

With the store opening, “The Drop” is themed around the holidays — including clothing and items a shopper might need for going out, relaxing at home or giving a gift to the party host. The store’s offerings range across categories, mixing apparel, home decor, cosmetics and more. For example, “The Drop” currently includes a table of products a shopper might want if they were hosting a night at home with friends, such as card games, espresso martini mixes and attractive glassware for cocktails.

The company’s dealers are already working on the next two themes for “The Drop,” which will focus on wellness in January, the season of New Year’s resolutions, and Valentine’s Day in February, Sylvester said.

Customers can enter Target’s “Broadway Beauty Bar,” which is designed for selfies and social media posts. It will have a variety of Target’s beauty products, including fragrance brands like Target-exclusive Fine’ry, trendy mini versions of its face wash and lip gloss and more from national brands.

At the launch, Target is featuring items hand-picked by celebrity makeup artist Katie Jane Hughes.

Besides the “Beauty Bar,” the store sells items typically found in big box retailers, including bulk shampoo, body wash, and cotton balls.

Near the beauty area, shoppers can also press a button and take a black and white selfie.

Although the store’s design is new, it has similarities to some other Target locations in New York City — some items are locked behind eyeglass cases that an employee needs to open.

At the back of the store’s first floor, Target will have a “Curated By” rotating display of items from across the retailer’s beauty, fashion and home categories, hand-picked by celebrities and other creatives known for their sense of style. Shoppers can browse and purchase that person’s favorites or scan a QR code to see a list of them.

Target’s first “Curated By” movie features favorites from Megan Stalter, the actress and comedian of the HBO series “Hacks.” Some of her picks include a throw pillow, a pair of hot pink slippers, mineral water bottles, and Universal’s “Wicked: For Good”-themed apparel.

Also in the store, shoppers can find Target’s “Gifting Gondola,” featuring merchandise exclusive to Target.

The offer currently includes holiday-themed penguins, plush bears and other products from Target’s toy brand, Gigglescape. It also includes some giftable items themed around the retailer’s Bull Terrier, Bullseye, including a special edition Haribo gummy candy and a Bullseye Pez dispenser.

Over time, Sylvester said Target may offer some items that are unique to the SoHo store and can only be purchased there.