WITH CHRISTOPHER DURHAM
Introducing the Retail Brands Institute A Q&A With Christopher Durham, President, RBI The newly launched Retail Brands Institute (RBI) is the global professional membership organization committed to advancing retailers and their brands across all categories and channels. RBI offers new takes on events, education, networking and research for this industry sector. Launching with a founding advisory board of more than two dozen retail executives and solution partner companies, RBI will replace My Private Brand, the groundbreaking thought leadership website introduced in 2008. Why did you decide to launch RBI? Over the last decade, we have seen a major change in the industry, and COVID-19 has dramatically accelerated the pace of change. That change prompted our team to reevaluate our business and the industry. That began with my belief that we must build an organization around the retailers and their brands — which would then embrace everyone who contributed to their growth—all manufacturers, researchers, brokers, agencies, software companies, consultants, etc.
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GLOBAL RETAIL BRANDS / OCTOBER 2021
Why do you emphasize the term Retail Brands? It is time for new terminology. The phrase private label is associated with the cheap products of the 1970s and the term Private Brand evokes the copycat mentality of the 1990s. Today retailers own and manage Brands. The definition of retail has dramatically evolved over the last decade from bricks and mortar stores to online, popups, mobile, and more. We embrace a broader definition of retail that includes all those who sell regardless of category or channel.So, we are the Retail Brands Institute.
How big is the Retail Brands community? Today’s retail brands span all channels and categories. The total industry amounts to more than $450 billion in the U.S. and more than $5 trillion globally. Best-in-class retailers including Target, Kroger, Tesco, Ikea, Lowe’s Home Improvement, and Carrefour own and manage multibillion-dollar brands.
Are there retailers already involved in the Institute? Founding RBI Retail Advisory Board members include executives from Wakefern Food Corp., PetSmart, Kroger Co., BJ’s Wholesale Club, CVS Health, Boxed, Staples, Foxtrot, Whole Foods Market, Mattress Firm and Party City.
