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The Container Store

#9989

Rank

$9.15M

Marketcap

US United States

Country

The Container Store
Leadership team

Mr. Satish Malhotra (CEO, Pres & Director)

Mr. Jeffrey A. Miller (Chief Financial Officer)

Mr. Dhritiman Saha (Exec. VP & COO)

Products/ Services
Customer Service, Delivery, Furniture, Home Decor, Retail
Number of Employees
1,000 - 20,000
Headquarters
Coppell, Texas, United States
Established
1978
Company Registration
SEC CIK number: 0001411688
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
TCS
Social Media
Overview
Location
Summary
The Container Store Group, Inc. operates as a retailer of storage and organization products and solutions in the United States. The company operates in two segments, The Container Store and Elfa. It provides approximately 11,000 products designed to help customers. Its merchandise category includes custom closets, such as elfa Classic, elfa Decor, Laren, and Avera branded products, as well as closet lifestyle department and wood-based products; wood-based custom home storage and organization solutions; and customized solutions for closets, garages, home offices, pantries, laundry rooms, murphy beds, and built-in wall units. In addition, the company designs, manufactures, and sells component-based shelving and drawer systems that are customizable for any area of the home comprising closets, kitchens, offices, and garages, as well as made-to-measure sliding doors in the Nordic region of Europe. As of April 2, 2022, it operated 94 stores with an average size of approximately 25,000 square feet in 33 states and the District of Columbia. The company offers its products directly to customers through its website, responsive mobile site, and call center, as well as sells to various retailers and distributors on wholesale basis. The Container Store Group, Inc. was founded in 1978 and is headquartered in Coppell, Texas.
History

Garrett Boone and Kip Tindell met while working in the paint department of Montgomery Ward. On July 1, 1978, The Container Store opened in a small, 1,600-square-foot , retail space in Dallas. Kip Tindell , Garrett Boone , and architect John Mullen opened a retail store offering a mix of products devoted to helping people simplify their lives. In doing so, they originated a new category of retailing . Initial cash capital was provided by Garrett, his father, and John Mullen, who were founding directors, officers and shareholders of the company. In 1999, the company bought one of its main suppliers, Elfa International, a Swedish corporation that specialized in shelving and storage units.The first store location outside Texas opened in Atlanta, Georgia in April 1991. By December 1998, the chain had grown to 18 stores in operation. In October 2000, its first New York metropolitan area store opened. As of November 2004, it had 33 locations, and reached 38 with the opening of the first Los Angeles area location in October 2006.Following the deal with Leonard Green & Partners, announced in July 2007, the company announced plans to open 29 more stores in the next five years. The first Arkansas location opened in March 2008, followed by the first Arizona location in the summer, and the first Minnesota location and second Ohio location that fall.In 2013, the retailer was one of the hottest IPOs of 2013. However, according to Forbes, "the Container Store is a far cry from the 300 store potential investors were promised in the IPO." Since 2013, only 30 stores were added, or about 5 per year. The company hasn’t kept its promise to investors "to be the category killer of storage containers and home organization."As of May 2016, The Container Store had 80 locations, with plans to open several stores in the following months. On May 9, the company announced that Kip Tindell would be stepping down as CEO and would be succeeded by COO and president Melissa Reiff.On December 22, 2020, The Container Store Group, Inc. announced that retail executive Satish Malhotra would succeed Melissa Reiff as CEO and president on February 1, 2021. Effective March 1, 2021, Reiff retired from the company, while retaining her position as chairwoman of the board of directors until the annual meeting of shareholders in late summer 2021.

Mission
The Container Store’s mission is to provide innovative and effective Storage & Organization Solutions for consumers and commercial customers that are customer-focused, aesthetically pleasing, and also space-maximizing.
Vision
The Container Store's vision is to revolutionize the industry by re-defining the expectations of their customers and continually exceeding those expectations through creative products, customer service and their customer experience.
Key Team

Ms. Kristin L. Schwertner (Chief Accounting Officer & VP)

Ms. Melissa Collins (Chief Marketing Officer)

Mr. John Marazio (Exec. VP of HR)

Ms. Eva M. Gordon (Exec. VP of Stores & Services)

Ms. Gretchen Ganc (Exec. VP of Strategy & Analytics)

Ms. Stacey Shivley (Chief Merchandising Officer)

Michael Lambeth (VP, Treasurer & Sec.)

Recognition and Awards
The Container Store has been recognized with numerous awards, such as Retailer of the Year, Store of the Year, Top 100 Companies to Work For, and more.
References

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The Container Store
Leadership team

Mr. Satish Malhotra (CEO, Pres & Director)

Mr. Jeffrey A. Miller (Chief Financial Officer)

Mr. Dhritiman Saha (Exec. VP & COO)

Products/ Services
Customer Service, Delivery, Furniture, Home Decor, Retail
Number of Employees
1,000 - 20,000
Headquarters
Coppell, Texas, United States
Established
1978
Company Registration
SEC CIK number: 0001411688
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
TCS
Social Media