Just announced recently, Target is in the process of terminating their partnership with one of their long term beddings vendor, Welspun. Welspun produced Egyptian Cotton 500-thread count sheets under the brand label Fieldcrest and Crowning Touch for Target but after a long investigation, Target discovered that Welspun sold sheets labeled Egyptian cotton using non-Egyptian cotton alternatives between August 2014 to July 2016. Each sheet set sold for as much as $175.
Target and Fieldcrest brand had no prior knowledge of the violation and the company has moved to pull all Welspun inventory from shelves both at Target and Target.com. Since last Friday August 19, Target has been reaching out to all Target REDcard members and Target.com shoppers to see who purchased the sheets between August 2014 to July 2016 and will be offering a full refund on these purchases.
According to Bloomberg, sales amassed from Welspun through Target amounted to an $90 million in the fiscal year that ended in March. Since the news broke, Welspun shares has dropped by 20%, which is the lowest the company has seen in nearly a decade.
If you’ve bought a Fieldcrest sheet mislabeled as Egyptian cotton between August 2014 to July 2016 and have not heard from Target, simply fill out your information via this Target web form. (Once you’re on the page, just click on the drop down and find the “Egyptian Cotton Sheets” form at the bottom of the list).