The Container Store Group, Inc. Announces Management Changes
December 22, 2020 at 08:00 am EST
Share
The Container Store Group, Inc. announced that Satish Malhotra, an experienced retail executive, will succeed Melissa Reiff as President on February 1, 2021. Effective March 1, 2021, Ms. Reiff will retire from the Company, while retaining her position as Chairwoman of the Board of Directors until the annual meeting of shareholders in late summer 2021. Malhotra most recently served as the Chief Retail and Operating Officer for Sephora. He was one of the first executives to join Sephora in its debut to the U.S. retail landscape and, in his 21 years with the company has grown and supported the business in various leadership roles. Prior to his current role, Mr. Malhotra served as Chief Operating Officer for Sephora and was responsible for Technology, Supply Chain, Store Development, Legal, Strategy and Partnerships, including the Sephora inside JCPenney (SiJCP) business which now operates over 600 stores.
The Container Store Group, Inc. is a specialty retailer of organizing solutions, custom spaces, and in-home organizing services in the United States. The Company operates through two segments: The Container Store (TCS) and Elfa. TCS segment consists of retail stores, Website, and call center (which includes business sales), as well as its in-home services business. The Elfa segment includes the manufacturing business that produces the elfa brand products that are sold domestically exclusively through the TCS segment as well as on a wholesale basis. This segment designs and manufactures component-based shelving and drawer systems and made-to-measure sliding doors. Its shelving and drawer systems are customizable for any area of the home, including closets, kitchens, offices, and garages. The Company also offers all of its products directly to its customers through its Website, responsive mobile site and application, call center, and in-home design specialists and organizers.
THE CONTAINER STORE GROUP, INC. 
