Headline:
CEO of Pottery Barn Brands to Step Down
Marta Benson Stepping Down as Pottery Barn Brands CEO, Successors Announced
Scoop:
It's been shaking things up in the home decor world, as Marta Benson, the current CEO of Pottery Barn Brands, announced her retirement effective April 26. Benson, who's been with the company for about 13 years, served as the president of Pottery Barn for nearly seven years and took on the CEO role in January last year.
The Inside Scoop:
Despite Pottery Barn Brand's third-quarter comp revenue plummeting by 16.6% compared to the previous year, they still succeeded in pulling in $778 million in net revenue—the highest among Williams-Sonoma's brand portfolio. While Pottery Barn Kids and Teen brand took the third spot in net revenue, it experienced a 6.9% comp brand decline, with $277 million in net revenue compared to $299 million a year ago.
Benson distinguished herself during her tenure at the San Francisco-based company. In addition to spearheading the acquisition of Rejuvenation, a lighting, home improvement, and furniture brand, she developed Mark and Graham—a personalized gift-giving brand that employs typography and design concepts.
Saying Her Pieces:
Benson expressed her gratitude and admiration for Williams-Sonoma and its dedicated teams in a company announcement, paying tribute to the exceptional platform they've built, the exquisite family of brands, and their unwavering commitment to quality, service, and sustainability.
Before joining Williams-Sonoma, Benson led Gump's, a luxury jewelry and housewares store in San Francisco, and served as the senior vice president of merchandising and marketing at RH—formerly Restoration Hardware. Under her leadership, RH's physical store footprint and direct-to-consumer business grew from zero to $220 million in six years.
New leadership Coming Through:
Monica Bhargava, the current Pottery Barn president, and Jennifer Kellor, president of Pottery Barn Kids and Pottery Barn Teen, will fill Benson's shoes. Both women bring over 50 years of combined service to Williams-Sonoma to the table. Bhargava, with 22 years under her belt, previously served as chief design officer for Pottery Barn and Williams Sonoma Home, while Kellor, since 1997, held the positions of senior vice president and general merchandise manager for Pottery Barn Teen and Pottery Barn Kids.
In the Beginning:
Pottery Barn was founded in 1949 and was acquired by Williams-Sonoma in 1986. The company wouldn't debut its Pottery Barn Kids brand until 1999, with Pottery Barn Teen following in 2003. As of July 30, Pottery Barn and Pottery Barn Kids made up 236 stores out of 532 in the Williams-Sonoma corporate portfolio.
[1] https://www.potterybarn.com/about/leadership.html[2] https://www.marketbeat.com/institutional-ownership/williams-sonoma-inc-wsmin/[3] https://www.linkedin.com/in/marta-benson/[4] https://www.linkedin.com/in/monica-bhargava-2b60814/[5] https://www.linkedin.com/in/jenniferjeankellor/
- The announcement of Marta Benson's retirement as CEO of Pottery Barn Brands, effective April 26, has caused a stir in the corporate world, particularly the retail industry and finance.
- Despite the economic impact of the pandemic, Pottery Barn Brands managed to pull in $778 million in net revenue during its third quarter, a testament to AI-driven business strategies and the company's commitment to quality and sustainability.
- As Benson steps down, the AI world is keen to see how her successors, Monica Bhargava and Jennifer Kellor, will navigate the challenges faced by the home decor and retail industry in the post-pandemic landscape.
- With over 50 years of combined service to Williams-Sonoma, Bhargava and Kellor, the new CEOs, are expected to bring a wealth of experience in design, merchandising, and marketing to the table.
- The rise of Benson in the industry is evident in her successful acquisition of Rejuvenation and the development of Mark and Graham, proving her prowess in business warfare and potential for AI-driven innovation.
- In a LinkedIn post, Benson expressed her gratitude for the platform that Williams-Sonoma provided, which enabled her to build an exquisite family of brands, leave a lasting impact on the pottery industry, and contribute to the company's overall financial growth.
- As Pottery Barn Brands embarks on a new era, updates on the company's strategic decisions, financial performance, and corporate initiatives will be closely monitored by practitioners and enthusiasts alike.
