The Container Store
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Please help improve this article or section by expanding it. Further information might be found on the talk page or at requests for expansion. (February 2007) |
| The Container Store | |
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| Type | Private |
| Founded | Dallas, Texas (1978) |
| Headquarters | Coppell, Texas |
| Key people | Kip Tindell, CEO & Co-Chairman and Garrett Boone, Co-Chairman |
| Industry | Retail |
| Revenue | ▲ USD $500 million |
| Employees | 4,000 |
| Website | www.containerstore.com |
The Container Store is a store that sells storage solutions for home and office. They have 41 locations throughout the United States. [1]
Founded in 1978, by Garrett Boone and Kip Tindell,[2] the store has seen 20% annual growth every year that it has been in operation.[3] In 1999, the company bought one of its main suppliers, Elfa International, a Swedish corporation that specializes in shelving and storage units.
One of the keys to the company's success is its devotion to recruiting and keeping a highly qualified workforce, according to its president Melissa Reiff.[3] Its success is reflected in the fact that it has made Fortune's list of "100 Best Places to Work in America" in each of the past nine years, through 2007.[4]
In January 2007, the company announced that it would no longer be wholesaling its Elfa product line.[5] In February 2007, its owners announced that they were "exploring alternatives," including selling the company to private investors, in order to fund future growth. They maintain that they will not sell unless they receive guarantees that the corporate culture will be maintained. On July 2, 2007 The Container Store announced that they have closed a deal with a private equity firm based in Los Angeles, Leonard Green & Partners, L.P.[6]
[edit] Notes
- ^ Store Locator at containerstore.com
- ^ Hoover's Inc. fact sheet on The Container Store
- ^ a b Maria Halkias."Pioneering retailer in storage niche leaves rivals in dust," The Dallas Morning News, January 31, 2007
- ^ Fortune: 100 Best Companies to Work For, CNN.com, 2007
- ^ Sandra Zaragoza. "Container Store's Elfa Surprise: Company pulls plug on independent dealers of product line in North America," Dallas Business Journal, January 26, 2007
- ^ "Container Store put on market: Retailer wants to use equity but preserve workplace culture," The Dallas Morning News/KRT, February 17, 2007
