Partnership between companies can broaden both brands’ reach. This can range from sponsorship agreements to mergers or acquisitions; once established, such relationships are typically announced through press releases.

An announcement of cooperation typically details the project that both companies will collaborate on together, including common goals and timelines.

1. Target x Lily Pulitzer

Target collaborated with Palm Beach-inspired designer Renata LeBlanc of vibrant resort wear fame to produce an affordable collection of clothes, accessories, cosmetics and home goods in 2015. Fans camped out outside stores while most popular pieces sold out within minutes online. The 250-piece line was an instantaneous hit.

Lilly Pulitzer’s collaboration was a win-win, yet it prompted criticism from critics questioning her wisdom in using her name on products sold at lower-tier retailers. That being said, limited-edition collections available outside premium boutiques may be an effective way to reach new markets while maintaining premium image.

Scarcity created by Target’s fast sellout proved an effective marketing tactic, as it generated buzz and attracted shoppers to both their website and local stores. Furthermore, any issues experienced online shoppers such as slow service proved good public relations tools as customers voiced their anger through various means such as Twitter.

2. LeBron James x Nike

LeBron James signed a seven-year, $90 million endorsement contract with Nike at 18 years old as part of a high school basketball phenom’s meteoric rise to global superstardom. Since then, LeBron has become one of the most marketable athletes ever and serves as face for Nike Basketball as well as leading an empire including his sports brand SpringHill Entertainment and ownership stakes in Boston Red Sox and Liverpool FC teams.

This new pair of sneakers was inspired by James’ favorite cereal as a child – Fruity Pebbles. The LeBron James 19 Low Magic Fruity Pebbles shoes also include Photochromic DCS technology which changes color depending on sunlight exposure.

North American lifestyle brand and esports organisation FaZe Clan joined forces with Nike to produce an exclusive colorway of the LeBron XXIIth Generation shoe titled the Local Legends edition, featuring black linen-like premium leather construction with translucent top swooshes that display FaZe Clan logos on each side of a watercolored bottom swoosh.

3. Taco Bell x Doritos Locos Tacos

Few menu items in fast food history have seen such widespread popularity as the Doritos Locos Taco since its debut in 2012. According to Fast Company, its debut caused such an explosion that the chain needed four new production lines just to keep up with demand for it.

Though initially there were hiccups – such as having to get their Doritos shell from Frito-Lay for this creation – the tacos’ nacho cheese-flavored Doritos shell has become an ever-popular menu item and this year introduced another flavor called Flamin’ Hot Cool Ranch to add variety.

Draftfcb Orange County will run television ads promoting the new flavors that focus on Taco Bell’s brand insight, “Live Mas,” which pays homage to Glen Bell’s adventurous roots while celebrating getting more out of life through food and experiences. These spots also incorporate music from Feed the Beat program that gives musicians free Fourthmeals.

4. Eva Air x Hello Kitty

At first glance, Eva Air and Hello Kitty may appear like an unlikely pair, but upon closer examination it quickly becomes obvious how clever and enjoyable their brand partnership really is. They have combined forces on every level: dedicated landing page, in-flight amenities available for purchase, events co-branded with Hello Kitty as co-brand partners, travel products available for sale for purchase as co-branded events co-branded social media campaign plane that generates lots of attention when traveling anywhere in the world!

Taiwanese carrier EVA Air will launch nonstop flights next summer from Taipei to Houston Bush Intercontinental Airport using a Hello Kitty-themed jetliner. EVA already uses Hello Kitty planes on flights between Los Angeles and Paris licensed by Sanrio; their seven Hello Kitty planes sell 3 percent more seats than regular flights while producing an estimated $3 Million worth of Hello Kitty merchandise per year during these trips. Flights between Taipei and Houston Bush Intercontinental Airport will initially run three days each week on this themed aircraft before later adding one day with regular aircraft – initially all on this plane before eventually adding one or two days where regular aircraft take over for another three day-all-weeklong Hello Kitty plane ride!