Here's why Kirkland is Costco's secret weapon!
- Costco's Kirkland Signature brands, well-known for their high quality and low cost, brought in close to $60 billion in 2021, about 25% of Costco's total revenue.
- Nationally known companies like Starbucks, Duracell, and Reynolds produce an exclusive version for Costco that meets its strict standards for quality and price point.
- Costco's goal is to make Kirkland's products "equal or better quality than national brands" while striving for comparative savings of at least 20%.
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Kirkland Signature is the private label of Costco that brought in close to $60 billion in sales for the warehouse giant in 2021, about a quarter of its sales during its last fiscal year. Since its launch in 1995, Kirkland has expanded from 30 to 351 products. Named after the company's original Washington State headquarters, Kirkland was created as an umbrella for Costco's different private labels. Since then, it has become one of the most recognizable brands in the U.S.
But who makes these products? While some are made exclusively for Costco and sold under the Kirkland Signature label, many of them are actually made by name-brand manufacturers who also produce their own branded versions of the same product. These companies will often agree to produce an exclusive version for Costco that meets its strict standards for quality and price point. The only difference? The distinct black, red, and...
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