Container Store CEO’s favorite collection doesn’t need storing
As Melissa Reiff prepares to retire after 26 years with the chain, she credits her father for her love of a good quote and lessons from her first job for her power of positive thinking.
The Container Store at Galleria North in Dallas is one of two new closet showrooms opened last year by the Coppell-based retailer. The other one is in Los Angeles.(Lola Gomez / Staff Photographer)
The Container Store CEO Melissa Reiff has one of those positive attitudes that was nurtured early in life.
“I grew up in a household where my dad started every morning singing,” she said. When she was in college, he started sending her quotes in the mail. His favorite: “Have compulsion for closure.”
The Container Store names a new CEO as Melissa Reiff plans to retire
Satish Malhotra comes to the Coppell-based retailer from Sephora. The stock price is trading higher.
The Container Store opened last year in new space north of Galleria Dallas along the Dallas North Tollway with an expanded custom closets showroom. There s one other store like it in Los Angeles.(Lynda M. González / Staff Photographer)
Malhotra, 45, is the first CEO to be hired from outside the company.
When The Container Store was founded in Dallas in 1978, it created a whole new category of merchandise. It still leads in that category as imitators over the years have come and gone.
Dive Brief:
The Container Store on Tuesday named its next CEO, Satish Malhotra, who will take the helm Feb. 1.
Melissa Reiff, who currently holds the role, will retire from the company March 1. Reiff will continue to serve as board chairwoman until the annual meeting of shareholders in late summer 2021, according to a company press release.
Malhotra spent 21 years at Sephora where he most recently served as the chief retail and operating officer.
Dive Insight:
Reiff took over the chief executive role from The Container Store co-founder Kip Tindell in 2016 and helped lead a transformation of the business, which has included launching new store concepts and leaning into services like custom closet design.