Special Guest: Juli Lassow, Owner & Principal, jhl solutions
Private label, white label, owned brands. What are the differences? Why do they exist? What value to they bring to the customer as well as to the retailer? We explore all these questions and just how a retailer should approach creating their own owned brands with our special guest, Juli Lassow, Owner and Principal of jhl solutions.
PRIVATE LABEL, WHITE LABEL & OWNED BRANDS
According to our guest, in their simplest definition, private label brands are brands retailers sell that can’t be found anywhere else. They get their origins in the grocery space. The one-for-one compare-to SKUs packaged in a retailer’s packaging which can be compared to a national brand equivalent. Or they are the opening price point offering with no national brand equivalent. Regardless, you can’t find that specific product sold anywhere else.
Owned Brands are a particular subset of private-label brands in that there is no ‘compare-to’ option. That retailer designs these items to meet a very specific need of their target customer. You can’t find these items anywhere else – and they are a very specific assortment, which draws in the customer this retail knows well.
The discussion continued from here. Please give the episode a listen…
RESEARCH AND LINKS
- Target shaped private labels into powerhouse brands. Now others want to do the same.
- ‘The market’s on fire’: What’s behind the flood of DTC IPOs?
- Bed Bath & Beyond adds 3 more private labels to lineup
- Bed Bath & Beyond Unveils Its Next Wave of Owned Brands that will Inspire Customers to be Home, Happier™
- Private Label Brands Surge As Consumers Purge Closets
We concluded our conversation with Juli answering our question regarding what change she would like to see retailers make in the next 6-12 months. Here’s her answer, “The core value for my business has always been around how to build the strongest partnerships between retailers and their supplier partners. In the coming months, I’d love to see continued progress with these partners having dialogue about what is possible – not just being directive about what has to happen.
“I launched my business to help retailers and suppliers get on the same page, to speak the same language. The COVID-response era has forced many of these partners to work to resolve immediate issues – as these issues are addressed, I’d love to see the discussions shift to being more strategic and visionary. Building even strong products and partnerships, going forward.”
Let’s go shopping!
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RETAIL DONE RIGHT is produced and hosted by Jeff Fisher & Cristene Gonzalez-Wertz