Target Australia is about to undergo a radical transformation.
Parent group Wesfarmers has presented a strategy update to analysts outlining a renewed focus on product pricing, brand marketing and corporate structure.
The document revealed that 48 out of Target's 50 business leaders are either new to the business this year or about to start.
Target managing director Stuart Machin, who joined a year ago from Coles, is leading a 'make Target great again' strategy.
The strategy aims to address inconsistent pricing and promotions, off-trend product ranges and poor customer experience.
Target reported a 4.8 per cent fall in sales in its third quarter update in April and is taking steps to reverse its downward trend.
Marketing manager Phil Wade, who joined in December, is helming a relaunch of the Target brand and its Designers for Target fashion ranges.
The range revival will be revealed soon with Target on the hunt for a creative agency to assist with the task.
Target has also vowed to invest $120 million in improving service over the next four years, develop new store formats and and refresh stores and point of sale.
It will also have an integrated bricks and clicks model in place by 2018.
Target will reduce its product range SKUs by 40 per cent in the next two years, focusing on those with the highest margins.
Currently 80 per cent of sales come from its top 200 SKUs.
Marketing will focus on stronger messaging on product fashion, style, quality and price and stronger awareness messaging.