Toronto-based home improvement/mass/sporting goods hybrid retailer Canadian Tire wants to win differentiate and battle online retailers by dramatically expanding its private brands, its chief executive Stephen Wetmore said Thursday. Wetmore spoke to analysts on a conference call to discuss Canadian Tire’s better than anticipated third-quarter results that private brands are helping the retailer outperform compete with online retailers.
The retailer’s private brand portfolio includes Vertex Award Winners: Motomaster Maximum and Canvas as well as Woods for camping and outdoor gear.
“That protects us in the future much more securely than carrying brands that everybody else does,” Wetmore said.
“They have to be unique, and they also offer us an ability to control the whole process,” from design to manufacture, and that results in fewer product returns. “Your quality is there, you are saving money right across the board, and there is better inventory management.”