Dive Brief:
- As it morphs into “The Brand House Collective,” a multi-brand retailer and supply chain operator that includes Bed Bath & Beyond and Overstock, Kirkland’s on Tuesday announced a slew of leadership appointments.
- Most prominently, Francesca’s financial executive Andrea Courtois on July 21 will join as chief financial officer; she also previously had leadership roles at La Senza, Lane Bryant and Lands’ End. Courtois succeeds longtime Kirkland’s executive Mike Madden, who returned to the company in 2022 to take the post.
- Michael Sheridan, a veteran of Community Brands, Ceridian and Comdata, joined the company on Monday as general counsel and corporate secretary, and Mandy Gauldin has been promoted to vice president of talent and culture, the company also said.
Dive Insight:
Kirkland’s CEO Amy Sullivan billed this slate of appointments as a sign of “continued momentum in advancing our transformation.” The company just a few weeks ago announced shakeups to its board and executive suite.
“The team we are building brings a powerful mix of fresh perspectives and deep expertise, united by a clear mandate: move faster, lead with accountability and drive meaningful outcomes,” she said in a statement. “As The Brand House Collective, we’re raising expectations and building an organization that delivers results brand by brand.”
The Brand House Collective joins Kirkland’s with Beyond Inc. and its brands Bed Bath & Beyond, Overstock and BuyBuy Baby; shareholders vote on the move at Kirkland’s July 24 annual meeting. The goal behind the formation of most such conglomerates is to achieve, as Sullivan put it, a “multi-brand operating model designed to scale profitably.”
Last month, as Kirkland’s reported double-digit Q1 declines in its top- and bottom-lines, Sullivan acknowledged that its existing partnership with Beyond “needed to evolve.” Beyond Inc. in May acquired the home goods retailer’s IP for $5 million. The companies had forged a strategic partnership in October, when Beyond provided Kirkland’s with $17 million in debt financing.
The tie-ups are not just operational: These brands are also enmeshed to varying degrees.
Last month Kirkland’s said it is going forward with plans to consolidate real estate and then treat about 290 of its locations “as the foundational footprint for Kirkland’s Home, Bed Bath & Beyond Home, and Overstock.” That includes converting Kirkland’s Home stores to Bed Bath & Beyond Home stores and co-branding Kirkland’s Home and Bed Bath & Beyond Home online.