For Architectural Digest, by Hadley Keller.
Any home decor enthusiast is likely familiar with HomeGoods, the TJX-owned discount furnishings retailer. If you’ve ever gotten a rush of adrenaline from snapping up a $99 bathroom vanity or snagging lush bedding for the price of a couple Starbucks lattes, you’re in luck: TJX has announced that it will open HomeSense, in the U.S. later this summer. While that name likely rings a bell to residents of Europe and Canada, where the store already has 46 and 109 locations, respectively, the U.S. version won’t be connected to its overseas counterpart — rather, it will be an entirely new store concept.
HFN reports that the move doesn’t mean danger for HomeGoods; rather, it’s a way to capitalize on the high demand for discounted home goods in the U.S. market. “HomeSense will offer consumers a different mix of home fashions from HomeGoods, but at the same great value,” TJX CEO Ernie Herrman told the trade publication, noting that the market is currently underserved by existing HomeGoods stores. Though it’s unclear exactly how the two stores will maintain distinct market shares, we won’t have to wait too long to find out: the first U.S. locations are slated to open throughout late summer and early fall of this year. Tight-budget projects are about to get a whole lot easier.
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