Question
Yes, there are several examples of successful strategic partnerships. One such example is the partnership between Kohl's and Amazon in 2020. This partnership allowed for hassle-free Amazon returns at Kohl's department stores. As a result, Kohl's gained 2 million new customers over the course of the year, with sales exceeding analysts' estimates. Other successful partnerships include Apple Pay and Mastercard, and Starbucks and Barnes & Noble. These partnerships were integrated so seamlessly that they have become a day-to-day norm for customers.
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The right strategic partnerships are used by top brands to increase growth into new markets, cover weaknesses, or reinvent themselves. Kohl's partnered with Amazon in 2020 to provide hassle-free Amazon returns at the department store. In return, Kohl's added 2 million new customers over the course of the year with sales topping analyst's estimates. Others like Apple Pay and Mastercard, or Starbucks and Barnes & Noble, were integrated so seamlessly that it becomes a day-to-day norm for customers. On the other hand, failed partnerships can be a trainwreck. Like the Staples and Office Depot or AOL and Time Warner partnerships. (Slide 1)
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