Bed Bath & Beyond is looking to make up for a late start in the private label game with a big leap forward. Though the retailer launched its first-ever private brand, Bee & Willow Home, just last year, ahead of its inaugural Investor Day, BB&B has outlined a plan to roll out 10 owned brands in the next 18 months — all with the goal of tripling its private brand penetration over 3 years.
The Oct. 28 Investor Day comes almost a year to the day after Mark Tritton — formerly Target's chief merchant — took the reigns of the Union, N.J.-based home goods retailer, and on the heels of a spree that brought to the C-suite retail vets from various channels, all of whom were well-acquainted with store brand strategies.
In March, Bed Bath & Beyond tapped Joe Hartsig — who helped lead store brands at drug giant Walgreens — as its chief merchant and president of its health and beauty care-focused Harmon Stores division. Then, in July, Neil Lick was named BB&B's new private brands leader, bringing with him 22 years of experience at Williams-Sonoma.