The Container Store Custom Spaces Enhances Premium Features and Garage Offering

Rhea-AI Summary

The Container Store Group highlights the enhancements it has made to its Custom Spaces offering, including new design options and a new Garage+ system. The company aims to stay competitive in the $6 billion custom spaces market by driving innovation and offering a complete solution for customers.

Positive

• The Container Store Group has made enhancements to its Custom Spaces offering, which could positively impact its stock price. These enhancements include new design options within its premium line Preston and the introduction of the Garage+ by Elfa system. The company aims to capitalize on the $6 billion custom spaces market and stay competitive by driving innovation and offering a complete solution for customers.

Negative

• None.

Ongoing innovation gives retailer a competitive edge in the custom space market

COPPELL, Texas--(BUSINESS WIRE)-- The Container Store Group, Inc. (NYSE: TCS) (the “Company”), the leading specialty retailer of organizing solutions, custom spaces, and in-home services, highlights the enhancements it has made this year to its Custom Spaces offering with innovative, on-trend design options within its premium line Preston, and new Garage+ by Elfa system.

Garage+ by Elfa (Photo: Business Wire)

“Our objective with Custom Spaces is to exceed the needs and desires of our customers by continuing to innovate and stay abreast of the latest design trends,” said The Container Store’s Vice President of Custom Spaces Manufacturing Barbara Snook. “Ongoing enhancements to our assortment help us deliver on our objective and capitalize on the $6 billion custom spaces market. We will continue to drive innovation across our Custom Spaces lines to remain competitive and top of mind for consumers. Paired with our new premium general merchandise, like socially conscious home goods from The Citizenry or innovative glassware from Fortessa, customers don’t need to go anywhere else for a complete solution whether it’s a Preston closet, office, entertainment center or pantry.”

Preston design enhancements include:

• Newly released finishes including Lakeshore green, Night Sky blue and Black Super Matte, which offers a fingerprint-resistant finish, Raven black woodgrain and Sahara, which features a beautiful cathedral graining
• Smart home-compatible, LED integrated lighting
• Eight recycled leather patterns and colors perfect for using as decorative door and drawer fronts, leather shelves, countertops or bench seat tops
• Clear, mirrored, back painted and patterned glass, and on-trend metal mesh door inserts in three weave patterns and three finishes
• Aluminum frame doors in a variety of finishes and profiles
• Slim shaker door and drawer profiles

Customers can consult with a design specialist to design a custom Preston space for free in store, virtually or in their home. A catalog with inspiration and a full list of customization options can be found online.

In November, in addition to enhancements to the premium Preston line, the Company will strengthen its garage offering with Garage+ by Elfa.

Snook continued, “Garage+ by Elfa bridges the gap between our Elfa Classic and premium Preston garage solutions, marrying utility and design. We look forward to introducing this new line to our customers, which includes many features they have been asking us for at a competitive price, and pairs strategically with our existing garage storage solutions.”

Garage+ builds upon Elfa Classic’s current garage options, plus:

• Fully enclosed wall and rolling cabinets
• Lighting
• Heavy-duty work benches
• Full extension, soft close 20” deep drawers

About The Container Store Custom Spaces

The Container Store Custom Spaces encompasses The Container Store’s three exclusive lines that can be used in any area of the home. Elfa is a modular metal-based system that can be self or professionally installed, available in Classic and Décor styles. Avera is a wall-based line with no vertical partitions, offering a boutique closet look and premium features like LED lighting, glass shelves and push-to-open drawers. Preston is a premium wood-based line offering versatility and the ability to design to any budget, providing the ultimate built-in look of custom cabinetry. Preston offers a vast array of custom options, including wall beds, and a beautifully curated collection of finishes and decorative options. All three lines are wholly owned and manufactured by The Container Store and are complemented by the company’s general merchandise for a complete solution.

About The Container Store

The Container Store Group, Inc. (NYSE: TCS) is the nation’s leading specialty retailer of organizing solutions, custom spaces, and in-home services – a concept they originated in 1978. Today, with locations nationwide, the retailer offers more than 10,000 products designed to transform lives through the power of organization.

Visit www.containerstore.com for more information about products, store locations, services offered and real-life inspiration.

Follow The Container Store on Facebook, Twitter, Instagram, TikTok, YouTube, Pinterest and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231024898588/en/

Investors:

ICR, Inc.

Farah Soi/Caitlin Churchill, 203-682-8200

Farah.Soi@icrinc.com

Caitlin.Churchill@icrinc.com

Media:

The Container Store Group, Inc.

Katelyn Clinton, 972-538-6000

publicrelations@containerstore.com

Source: The Container Store Group, Inc.

FAQ

What enhancements has The Container Store Group made to its Custom Spaces offering?

The Container Store Group has made enhancements to its Custom Spaces offering, including new design options within its premium line Preston and the introduction of the Garage+ by Elfa system.

What market is The Container Store Group aiming to capitalize on?

The company aims to capitalize on the $6 billion custom spaces market.

How does The Container Store Group plan to stay competitive?

The company plans to stay competitive by driving innovation and offering a complete solution for customers.