According to an article published yesterday in Convenience Store Decisions Dallas based convenience store retailer held its first-ever Private-Label Summit in Dallas on Oct. 28-29 with the Joe Pinto the President and CEO of 7-Eleven opening the summit. This is a perfect example of how retailers can and should commit to their Private Brands. Top down commitment to Private Brand initiatives is key to the success of Private Brands. Private Brands must become a strategic pillar of the retailer’s business strategy in order to receive the attention and funding necessary to create long-term growth and shareholder equity.
The two-day event provided the company’s private-label suppliers the opportunity to meet with its category managers and product directors and attend a formal Private-Label forum.
The purpose of the collaborative program was to educate 7-Eleven supply partners about the company’s business strategy and private-label growth plans.
Sixty people representing 35 suppliers attended the conference, including the first 7-Eleven private-label supplier of food for the company Barrel of Fun, which provides bagged chips for 7-Eleven stores’ 7-Select brand.
“We had 100% participation from every supplier we invited,” said Tom Gerrity, 7-Eleven senior product director recently promoted to oversee the company’s Private-Label program. 7-Eleven President and CEO Joe DePinto kicked off the meeting to demonstrate the company’s commitment to growing its private-label and proprietary brands.