Best Buy continues its expansion into home categories beyond electronics with the acquisition of St. Louis Park-based Yardbird, a direct-to-consumer outdoor furniture brand started just five years ago by father and son Bob and Jay Dillon.
“We are excited about the opportunity to use our expertise in merchandising and supply chain to scale this business – both online and in physical locations across the nation,” Best Buy CEO Corie Barry said of Yardbird Tuesday during the retailer’s third quarter earnings call. “Because customers are looking to us to complete their solutions, we have been expanding our assortment in categories like outdoor living, as more and more consumers look to makeover or upgrade their outdoor living spaces. This includes products like patio furniture, grills, fire pits, and electric mowers, to name a few.”
Best Buy will pay approximately $85 million for Yardbird, which specializes in premium patio sets made of sustainable materials including recycled plastics. Prices start at around $2,000 for a sectional or table and chair set. The furniture brand, which started out in a small off-the-beaten-path industrial building, now has its main showroom on Highway 7 in St. Louis Park and has opened stores in Denver, Kansas City, Detroit, Washington D. C., and Philadelphia. Demand for Yardbird’s products spiked in the early days of the pandemic lockdown, a trend its founders said has continued.
Source: TCB Mag
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