Bed Bath & Beyond launches Squared Away private label series!

It is learned that BBB (Bed Bath & Beyond Inc) announced plans to launch its third private label series, Squared Away, in the second quarter of fiscal 2021. It also plans to launch two other brands, Our Table and Wild Sage, before the back-to-school season to fully meet the needs of customers as they prepare to return to colleges and schools.

The Squared Away collection includes nearly 300 storage items, including storage, organization and clothing care solutions for the home, apartment or bedroom.

Squared Away marks the launch of the company’s sixth private label brand, with the goal of introducing at least eight private label brands by the end of February 2022. As part of its three-year transformation strategy, BBB has revealed plans to launch at least 10 private label brands in the next two years (fiscal years 2021 and 2022).

It is reported that as part of the plan, BBB has launched three private brands, Simply Essential, Haven and Nestwell, in the first quarter of fiscal year 2021.

BBB's transformation plan focuses on eliminating product redundancy, unproductive inventory units, store remodeling and store closures. They hope that private brands can meet the needs of consumers in areas such as bed, bath, kitchen and dining, so they will still focus on launching several private brands in the future, and the revenue contribution of these brands may exceed 60%.

BBB management expects private label sales penetration to grow from 10% to 30% in the first three years, and it also expects to improve gross margins by managing costs and procurement. Another important step in its overall growth strategy is the plan to launch thousands of products that will be sold exclusively at BBB.

Editor✎ Irene/

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