Home Depot is charging into Target's home-decor territory, but the home-improvement retailer refuses to copy one of its winning strategies
- Home Depot is ramping up its home decor offerings.
- Business Insider spoke with merchandising EVP Ted Decker and merchandising SVP Jeanine Huebner about the company's strategy.
- They said that Home Depot will likely avoid Target's strategy of partnering up with third-party brands for limited releases.
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Home Depot is making a big push into the home decor space as the retailer strives to become the ultimate one-stop shop for customers tackling home improvement projects.
The company's not exactly a novice when it comes to home decor, having previously sold carpet, rugs, mats, tiles, and paint in stores. But Home Depot has also expanded its online selection of home decor products to include bedding and furniture as well as smaller items like mirrors and towels.
This latest venture puts Home Depot in direct competition with retailers like Target, which also features a wide selection of home decor.
But Home Depot's merchandising EVP Ted Decker and SVP Jeanine Huebner told Business Insider that the retailer isn't about to take a page out of Target's book when it comes to partnering up with big-name brands or designers for limited collections. Target is known for its exclusive, temporary partnerships with big names like Lily Pulitzer and Chip and Joanna Gaines.
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Despite Home Depot's previous collaboration with big names like Martha Stewart and continued interest from third-party brands, Decker said that limited partnerships with home decor designers are "probably not" in the company's future.
"As our private-label capabilities have matured, we find we don't really need the expertise that a third party would bring," Decker said.
He said that the company's Home Decorators Collection is "already well over a billion dollar private brand for us in our stores and online."
Decker added that temporary collaborations with brands tend to have a "shelf life" and run the risk of being a "flash in the pan." According to Huebner, Home Depot isn't seeking to "lead in trend and design," as the company is hoping to cater to a more "general customer."
"We'd rather spend our energy on our own capability and building our billion dollar brands," Decker added.