We wrap up Season 5 with yet another remarkable leader from a most remarkable retailer. This week our guest is Satish Malhotra, the CEO of The Container Store (TCS), the leading specialty retailer of storage and organization products, custom spaces, and in-home services.
Satish took the helm of TCS last year after an amazing two decade run at Sephora where he helped drive their retail growth strategy as Chief Retail Officer and Chief Operating Officer of the Americas.
We unpack what has TCS' success and momentum over the past 18 months, before delving into their plans to double its business over the next few years via it's 3 Pillars strategy: intensifying its product and service focus, expanding its reach (both digitally and by opening 80-100 new stores), and strengthening multiple capabilities. We also discuss how to overcome the cultural challenges that can impede any transformation effort and get Satish's views on how to navigate the coming choppy waters of a challenging economic outlook.
But first we dip into the week in retail news, including dissecting the latest sales report from the US Census Bureau which seems to suggest storm clouds on the horizon. Then we take on the surprise news of Amazon' Deal Days, before a short riff on the importance of the week after Christmas. Then it's a trip to the retail graveyard with news of Sears Hometown's apparent pending demise and a quick take on H&M's recent sales report. We wrap up with Walmart's doubling down on omni-channel fulfillment while Nordstrom Rack struggles to make it work.
Catch Steve and Michael at NRF's Big Show
Catch Steve and Michael at the World Retail Congress (more details soon)
About Satish
A seasoned retail executive with decades of diverse and valuable experience, Satish Malhotra joined The Container Store on February 1, 2021 as Chief Executive Officer and President.
For the previous 21 years, Satish held various leadership roles at prestige beauty retailer Sephora Americas, most recently as Chief Retail Officer and Chief Operating Officer. In this role, Satish was responsible for leading Sephora’s retail growth by expanding its in-store services and experiences, developing digitally enabled solutions and by growing its off-mall store locations.
Prior to that role, Satish served as Chief Operating Officer and was responsible for Technology, Supply Chain, Store Development, Legal, Strategy and Partnerships, including the Sephora inside JCPenney (SiJCP) business which now operates in over 600 stores. He also spent several years overseeing Sephora’s expansion into Canada and Latin America.
Before joining Sephora, Satish was a Transaction Services Senior Associate at PwC. He is a Certified Public Accountant (inactive).
Throughout his career, Satish has excelled at developing and growing new sales channels, solving complex “back of the house” problems with innovative solutions, and attracting and developing high performing talent. Among his many career highlights: transforming Sephora’s IT department to a Center of Excellence within parent company LVMH, launching all of Sephora’s digital commerce properties (including website, mobile, social and CRM), strengthening Sephora’s supply chain to enable 98% of online orders to be received by consumers within two business days, developing an off-mall store concept which dramatically improved Sephora’s accessibility to its consumers, and led the efforts in creating Sephora’s purpose of “inspiring fearlessness”.
In 2020, he was presented with the Innovation Leadership Award from the World Retail Forum.
A graduate of the University of California, Berkeley, Walter A. Haas School of Business with a Bachelor of Science in Business Administration, Satish has also completed the LVMH Inspiring Entrepreneurs Senior Executive Leadership Program.
Malhotra currently resides in Flower Mound, Texas, with his wife, two children and their Coton du Tulear. An avid Peloton rider, he clocked well over 11,000 minutes in 2020.
About Us
Steve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is now available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.
Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast, The Voice of Retail, plus Global E-Commerce Tech Talks , The Food Professor with Dr. Sylvain Charlebois and now in its second season, Conversations with CommerceNext! You can learn more about Michael here or on LinkedIn.
Be sure and check out Michael's latest venture for fun and influencer riches - Last Request Barbecue, his YouTube BBQ cooking channel!
Here is a 10% off code for the CommerceNext Growth Show exclusive to Remarkable Retail listeners: REMARKABLE.
About Us
Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling authro of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.
Michael LeBlanc is the president and founder of M.E. LeBlanc & Company Inc, a senior retail advisor, keynote speaker and now, media entrepreneur. He has been on the front lines of retail industry change for his entire career.
Michael has delivered keynotes, hosted fire-side discussions and participated worldwide in thought leadership panels, most recently on the main stage in Toronto at Retail Council of Canada’s Retail Marketing conference with leaders from Walmart & Google. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience with Levi's, Black & Decker, Hudson's Bay, CanWest Media, Pandora Jewellery, The Shopping Channel and Retail Council of Canada to his advisory, speaking and media practice.
Michael produces and hosts a network of leading retail trade podcasts, including the award-winning No.1 independent retail industry podcast in America, Remarkable Retail with his partner, Dallas-based best-selling author Steve Dennis; Canada's top retail industry podcast The Voice of Retail and Canada's top food industry and one of the top Canadian-produced management independent podcasts in the country, The Food Professor with Dr. Sylvain Charlebois from Dalhousie University in Halifax.
Rethink Retail has recognized Michael as one of the top global retail experts for the fourth year in a row, Thinkers 360 has named him on of the Top 50 global thought leaders in retail, RTIH has named him a top 100 global though leader in retail technology and Coresight Research has named Michael a Retail AI Influencer. If you are a BBQ fan, you can tune into Michael’s cooking show, Last Request BBQ, on YouTube, Instagram, X and yes, TikTok.
Michael is available for keynote presentations helping retailers, brands and retail industry insiders explaining the current state and future of the retail industry in North America and around the world.
