Forget Picasso paintings and Mickey Mantle rookie cards. Could the hottest new collectible be a Valentine’s Day-themed cup sold exclusively at Target
TGT
?
The “Galentine’s Collection” pink and red cups, made by Stanley, are priced from $20 to $45 at Target, depending on the size. But they’re now going for as much as $200 on eBay
EBAY.
“Hard to find…Will ship with extra care,” said one eBay seller, who was asking $190 for a pair.
The frenzy is such that shoppers have been standing in line outside Target
TGT
stores in the early hours of the day, then rushing inside when they open and grabbing whatever they can find, as evidenced by videos posted on social media. Still, it appears that Target placed a limit of two cups per customer, as evidenced by a scene captured in one TikTok video.
Another video, posted on X, showed a would-be cup buyer falling to the ground during the mad rush.
Target officials confirmed with MarketWatch that the Valentine’s Day items are indeed sold out at this point and will not be restocked. But the company said that new Stanley items will be available throughout 2024.
All this is good business not just for Target, but for Stanley, a brand, now part of the privately held HAVI company, that has been in business since 1913. (And is an entirely separate entity from the Stanley brand of tools, which is part of the Stanley Black & Decker
SWK
company.)
Stanley cups have become buzzworthy sensations in recent years. A CNBC report said annual sales have grown from $70 million to $750 million. Celebrities, including Adele, are said to be fans of the brand.
Officials with Stanley didn’t immediately respond to a MarketWatch request for comment.
This post was originally published on Market Watch
