Episode Details

We wrap up Season 5 with yet another remarkable leader from a most remarkable retailer. This week our guest is Satish Malhotra, the CEO of The Container Store (TCS), the leading specialty retailer of storage and organization products, custom spaces, and in-home services. 

Satish took the helm of TCS last year after an amazing two decade run at Sephora where he helped drive their retail growth strategy as Chief Retail Officer and Chief Operating Officer of the Americas. 

We unpack what has TCS' success and momentum over the past 18 months, before delving into their plans to double its business over the next few years via it's 3 Pillars strategy: intensifying its product and service focus, expanding its reach (both digitally and by opening 80-100 new stores), and strengthening multiple capabilities. We also discuss how to overcome the cultural challenges that can impede any transformation effort and get Satish's views on how to navigate the coming choppy waters of a challenging economic outlook.

But first we dip into the week in retail news, including dissecting the latest sales report from the US Census Bureau which seems to suggest storm clouds on the horizon. Then we take on the surprise news of Amazon' Deal Days, before a short riff on the importance of the week after Christmas. Then it's a trip to the retail graveyard with news of Sears Hometown's apparent pending demise and a quick take on H&M's recent sales report. We wrap up with Walmart's doubling down on omni-channel fulfillment while Nordstrom Rack struggles to make it work. 

Catch Steve and Michael at NRF's Big Show

Catch Steve and Michael at the World Retail Congress (more details soon)

About Satish

A seasoned retail executive with decades of diverse and valuable experience, Satish Malhotra joined The Container Store on February 1, 2021 as Chief Executive Officer and President.

For the previous 21 years, Satish held various leadership roles at prestige beauty retailer Sephora Americas, most recently as Chief Retail Officer and Chief Operating Officer.  In this role, Satish was responsible for leading Sephora’s retail growth by expanding its in-store services and experiences, developing digitally enabled solutions and by growing its off-mall store locations.

Prior to that role, Satish served as Chief Operating Officer and was responsible for Technology, Supply Chain, Store Development, Legal, Strategy and Partnerships, including the Sephora inside JCPenney (SiJCP) business which now operates in over 600 stores. He also spent several years overseeing Sephora’s expansion into Canada and Latin America.

Before joining Sephora, Satish was a Transaction Services Senior Associate at PwC. He is a Certified Public Accountant (inactive).

Throughout his career, Satish has excelled at developing and growing new sales channels, solving complex “back of the house” problems with innovative solutions, and attracting and developing high performing talent. Among his many career highlights: transforming Sephora’s IT department to a Center of Excellence within parent company LVMH, launching all of Sephora’s digital commerce properties (including website, mobile, social and CRM), strengthening Sephora’s supply chain to enable 98% of online orders to be received by consumers within two business days, developing an off-mall store concept which dramatically improved Sephora’s accessibility to its consumers, and led the efforts in creating Sephora’s purpose of “inspiring fearlessness”.

In 2020, he was presented with the In