Popular retailer Kohl’s is doubling down on its focus to amplify its home offering, marking a renewed strategy aimed at revitalizing growth. Recent quarterly results indicate that the home category has seen the most significant uptick compared to other divisions. Cookware and housewares led the surge, while newly introduced home decor sections have already shown promising results.
On a recent call with investors, Kohl’s CEO Tom Kingsbury outlined the retailer’s ambition to diversify its growth avenues. According to Kingsbury, new strategic partnerships and an evolving inventory, especially in home decor, will be instrumental in their growth strategy. Weekly inventory updates include an eclectic mix of items ranging from glassware and wall art to storage solutions and chic lighting options, making Kohl’s a one-stop destination for millennial homeowners.
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Notably, the retail giant is setting its sights on expanding its product lines and physical footprint. There are plans to open seven new stores, with the retailer aiming to expand into new markets. Small-format stores will be instrumental in reaching new markets, while existing larger stores will be restructured to optimize space, capping the square footage at 55,000 square feet.
The incorporation of Sephora shops within Kohl’s stores is another strategic move. By year’s end, more than 900 of the retailer’s 1,100-plus stores will feature a Sephora, attracting a younger, more diverse customer base that aligns with the evolving brand image. “In the coming years, we believe Sephora, gifting, impulse, home decor, and long-term new stores will be the most significant contributions to our growth,” Kingsbury shared in an August quarterly call, according to Home Accents Today (HAT).
The focus on specialized home decor and the upcoming holiday season position Kohl’s as a strong contender in the luxury home market.
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