HGTV stars Chip and Joanna Gaines are teaming with Target to roll out a new home and lifestyle brand.

The partnership was announced Tuesday afternoon to more than 12,000 Target employees attending the Minneapolis-based retailer's fall national meeting. The couple behind the show "Fixer Upper" appeared on stage at the Xcel Energy Center in St. Paul to relay the news.

The new brand, Hearth & Hand with Magnolia, will be exclusive to Target. It will launch Nov. 5 and will be a multiple-year partnership unlike Target's limited-time collaborations with celebrities and designers such as Victoria Beckham.

"We've always dreamed of working with a retailer to create a collection that could reach more people at a more affordable price point," Joanna Gaines said in a statement.

The brand is one of a dozen-plus exclusive brands Target will roll out over the next two years as part of its strategy to revive sluggish sales. It already has introduced two new clothing lines — A New Day, which will replace longtime brands Merona and Mossimo, and the men's clothing line Goodfellow & Co. It's also adding an affordable wine brand, a modern decor home line and a new athleisure brand.

"Partnering with Chip and Joanna to create a modern farmhouse collection available only at Target allows us to offer an aesthetic we know our guests will love, and the quality and affordable prices can't be beat," Mark Tritton, Target's chief merchandising officer, said in a statement. "That's the magic of Target, and we can't wait for our guests to enjoy this collection for years to come."

Magnolia is the brand the couple use at their retail, dining, real estate and bed-and-breakfast businesses in Waco, Texas. It is a play off the name of their property, Magnolia Farms. The couple also license a line of furniture at Hom Furniture stores.

The line for Target will include more than 300 items in tabletop, home decor and giftables. Most of the items will be under $30.

Target flies in store managers and other employees from around the country for its annual meeting to energize them for the upcoming holiday season. In between presentations from Target's top executives, big-name musicians also entertained the crowd including Demi Lovato, Rachel Platten, Fantasia and the X Ambassadors.

The new brands are part of a broader strategy of Target's to strengthen its brick-and-mortar stores. The retailer also is renovating stores and lowering prices.

Kavita Kumar • 612-673-4113