11:47 AM EDT, 06/24/2024 (MT Newswires) -- Target ( TGT ) will partner with Shopify ( SHOP ) to expand its curated online marketplace to the e-commerce platform's merchants and brands.

A selection of Shopify's ( SHOP ) merchants and their products will be available for consumers to buy on Target Plus, the department store chain's selection of goods that can be bought on its website. The financial details of the deal weren't disclosed in a statement from the companies on Monday. Shares of Target ( TGT ) were up 2.8% Monday, while Shopify ( SHOP ) was little changed.

Shopify ( SHOP ) merchants in the US will also be able to sell their products online on Target Plus through Marketplace Connect, an app that allows merchants to sell and manage orders on marketplaces. Target ( TGT ) also said it will work with Shopify ( SHOP ) to bring certain sellers' products into its physical stores in the coming months.

Target Plus, which was launched in 2019, is an invite-only online marketplace and has more than 1,200 partners, according to Target ( TGT ). During a fiscal first-quarter earnings call in May, Chief Growth Officer Christina Hennington told analysts that the retailer expects Target Plus to "play an outsized role in our growth" in future quarters. Target's ( TGT ) digital comparable sales rose 1.4% in the first quarter compared with a 3.4% drop a year ago, the company said.

"In the past year, we've more than doubled the number of partners and products hosted on Target Plus," Hennington said on last month's call, according to a Capital IQ transcript. "We are excited to expand offerings with current partners and introduce new brands to the platform in (the second quarter) and beyond."

In May, Shopify ( SHOP ) reported a 34% jump in its fiscal first-quarter subscription solutions revenue to $511 million, buoyed by price hikes on standard subscription plans as more merchants joined the platform. Merchant solutions advanced 20% to $1.35 billion while gross merchandise volume, or GMV, rose 23% to $60.86 billion, the company said at the time.

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