Bed Bath & Beyond in surprise move launching three owned brands early

Bed Bath & Beyond is accelerating a key component of its turnaround effort. 

The home goods retailer said that it will launch three new exclusive brands in the coming weeks. With the new entries, Bed Bath & Beyond will have launched six owned brands in five months, ahead of its previously announced six-month timetable and in advance of the crucial back-to-college shopping season.

The new upcoming brands include the following:
• Our Table, a line of kitchen and dining ware with 1,100 products across cookware, bakeware, food prep, kitchen gadgets & utensils, kitchen linens, dining & barware;
• Wild Sage, a “youthful, eclectic collection of stylish” of 600 products for the bedroom, bathroom, dining room and living spaces, and 
• Squared Away, a line of storage, organization and cleaning products, with roughly 300 items.

"Through the use of new, data-driven line reviews, we discovered there were significant opportunities to strengthen our assortment in our kitchen, home décor and storage and organization categories,” said Joe Hartsig, executive VP, chief merchandising officer of Bed Bath & Beyond and president of Harmon Stores. “The upcoming launches of Our Table, Wild Sage and Squared Away will be important new enablers as part of our broader room resets that help elevate our overall customer experience, particularly in these important destination categories."

The introduction of at least 10 new exclusive brand is a key component of Bed Bath & Beyond’s three-year transformation strategy and is expected to triple the sales penetration of owned brands from 10% to approximately 30% during three years while driving improvements in gross margins. The retailer launched its Simply Essential, Haven and Nestwell brands last quarter. It is on track to have introduced a total of at least eight brands when its current fiscal year ends in February 2022.