Bed Bath and Beyond Opens a New Store in Monterrey
- Bed Bath and Beyond (BB&B) is changing its strategy in Mexico by considering smaller stores and private labels to gain a competitive advantage.
- BB&B plans to open additional stores in cities like Mexico City and Guadalajara in the next two years, while testing a new unit in Monterrey.
Bed Bath and Beyond (BB&B) is changing its strategy 13 years after entering Mexico. The furniture and home accessories chain aims to expand with smaller stores and private labels to gain a competitive edge. To gauge consumer response, BB&B will test a unit of over 1,600 square meters, set to open later this month at the Fashion Drive mall in Monterrey, Nuevo León. Its current 10 stores in Mexico range from 2,000 to 3,000 square meters.
Over the next two years, the company plans to open three to six more stores. However, the investment amount and growth projections are yet to be determined. BB&B believes that cities like Mexico City and Guadalajara still offer opportunities for store openings, depending on the real estate market. The sector has undergone changes due to the pandemic, but it has also created opportunities in spaces vacated by other brands in shopping centers. The Fashion Drive store is an example of this, strengthening BB&B's presence in cities where it already operates.
BB&B entered Mexico through a joint venture with Home & More, acquiring its two existing stores. With an initial investment of $4 million, they did not have a clear expansion plan. The philosophy was to let the customers decide. Currently, they have 10 stores in Mexico located in Puebla, Queretaro, Morelia, Cuernavaca, Metepec, and Mexico City.
