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Bed Bath & Beyond is undergoing a renaissance of sorts, and its stores are integral to its new vision. Yesterday, the company unveiled its remodeled Manhattan flagship.
Brand loyalty: The 92,000-square-foot store is designed to highlight several new private label brands Bed Bath & Beyond has introduced this year.
- Simply Essential, Wild Sage, Nestwell, and Haven are all featured prominently throughout the flagship. For good reason: Over the next three years, the company intends to triple sales from owned brands to 30% of total revenue.
- Joe Hartsig, Bed Bath & Beyond’s chief merchandising officer, told Retail Brew in May that stores would be outfitted with vignettes surrounding different areas of the home to market their new brands—a strategy that makes it easier to navigate the store.
“If you remember in the old store, we were actually off to the exits, so you’d zip in and zip out,” CEO Mark Tritton said during a tour. Now, the team wants people to explore and “zip around” instead.
Compared to the prior location, the new flagship has 44% fewer SKUs and 40% less inventory, Tritton said.
- That has made room for more “experiences,” such as a SodaStream Bubble Bar and Casper’s first shop-in-shop.
Go beyond: BBBY will spend $250 million over the next three years to remodel 450 stores. Tritton said the company is open to more shop-in-shop partnerships like Casper for future remodels where it makes sense to do so.
- There’s “less space in the suburban stores we operate,” Tritton said, “but we’re always looking for diverse opportunities.”—KM