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A mini LVMH for premium lifestyle brands.

Estée Lauder Companies, but for a wider array of premium home and lifestyle brands beyond just beauty.

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• Apparel and Accessories Sales: Designs, sources, markets, and sells a wide range of clothing, footwear, and accessories for men, women, and children under various owned and licensed lifestyle brands.
• Brand Portfolio Management: Acquires, develops, and manages a diversified portfolio of lifestyle fashion brands.

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Amy A. Sullivan – Chief Executive Officer; President; Director

Appointed CEO in April 2023, with her tenure as CEO, President, and Director officially beginning in February 2024. Prior to her current role, she served as President and Chief Operating Officer for the company in 2023. Her earlier roles at the company included Senior Vice President and Chief Merchandising and Stores Officer in 2022, Vice President of Merchandising from 2021 to 2022, and Divisional Merchandising Manager from 2012 to 2021. The company, formerly known as Kirkland's, Inc., rebranded to The Brand House Collective, Inc. in July 2025. Effective August 2025, her annual salary was increased to $700,000.

Andrea Courtois – Senior Vice President; Chief Financial Officer

Appointed Senior Vice President and Chief Financial Officer, effective July 2025. Ms. Courtois brings over two decades of financial expertise and is a seasoned leader in specialty retail. Her experience includes strategic financial planning & analysis and a deep understanding of asset and inventory management across prominent brands. She previously served as Vice President of Financial Planning and Analysis at Francesca's. Her background also includes financial leadership roles at La Senza, Lane Bryant, and Lands' End.

Lisa Foley – Chief Marketing Officer

Appointed Chief Marketing Officer in October 2025. In this role, she is responsible for advancing omnichannel marketing strategy, customer engagement, and brand performance across the company's portfolio of brands, which includes Bed Bath & Beyond, buybuy Baby, Kirkland's Home, and Overstock. Before joining The Brand House Collective, she was the Vice President of Marketing at Pink Lily. She also held positions as Vice President and Head of Marketing and E-commerce at Kirkland's, and previously worked at Crate & Barrel, Claire's, and Mars Petcare.

Michael Sheridan – Senior Vice President, General Counsel & Corporate Secretary

Joined as Senior Vice President, General Counsel & Corporate Secretary, effective June 30, 2025. He oversees all legal affairs, talent and culture, and corporate governance for the company. Mr. Sheridan brings over two decades of experience and a distinguished track record of legal and executive leadership. His previous roles include positions at Community Brands, Ceridian, and Comdata.

Mandy Gauldin – Vice President, Talent & Culture

Promoted to Vice President, Talent & Culture. Ms. Gauldin has been a key leader in the company's human resources organization for eight years. Prior to joining the company in 2017, she held diverse, customer-facing team leadership roles in the consumer and retail sectors at California Closets and Estee Lauder.

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The Brand House Collective (TBHC) faces several significant risks to its business, primarily stemming from its recent strategic merger and ongoing financial challenges.

1. Integration and Execution Risks of the Bed Bath & Beyond Merger: The most prominent risk involves the successful integration and execution of the merger with Bed Bath & Beyond. This strategic move entails substantial operational restructuring, including store closures and conversions, consolidation of overlapping systems in merchandising, logistics, technology, and administration, and the integration of two distinct corporate cultures. The success of this merger and the realization of projected cost savings are highly dependent on seamless execution and effective leadership, making integration challenges a critical concern.
2. Weak Financial Health and Liquidity Issues: The Brand House Collective exhibits a poor financial strength rating, with negative revenue growth and ongoing profitability challenges, including negative net and operating margins. The company reported significant net losses and adjusted net losses in its fiscal third quarter of 2025. Additionally, the company carries a substantial debt of $61.6 million, and its current and quick ratios indicate potential liquidity issues. While some liquidity improved by mid-December, the overall financial health remains a key risk.
3. Highly Competitive Retail Landscape and Declining Sales: The home goods retail sector is intensely competitive, with traditional brick-and-mortar retailers facing erosion of margins from e-commerce platforms and discount retailers. Brand House Collective has experienced declining Q3 revenue and a notable drop in e-commerce sales, further highlighting the pressures of this competitive environment.

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• The ongoing trend of vertical integration and consolidation within the cannabis industry poses a clear emerging threat. As large multi-state operators (MSOs) and licensed producers (LPs) acquire smaller brands, they often internalize distribution and supply chain logistics. This reduces the number of independent brands seeking third-party distribution services, directly impacting Brand House Collective's core business model through its Greenlane subsidiary, which relies on distributing products for various brands.
• The potential for federal legalization of cannabis in the United States represents another clear emerging threat. While it could expand market opportunities, federal legalization would likely open the door for established, large-scale consumer packaged goods (CPG) distributors and mainstream retailers (e.g., major grocery chains, pharmacies, or e-commerce giants) to enter the cannabis accessories and product distribution market. These larger entities possess significantly greater capital, existing logistics infrastructure, and market reach, which could fundamentally disrupt the current specialized distribution channels and marginalize niche players like Brand House Collective.

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The Brand House Collective (TBHC), which operates a portfolio of home and family brands including Kirkland's Home, Bed Bath & Beyond Home, Bed Bath & Beyond, buybuy Baby, and Overstock, participates in the broader consumer goods market and the brand licensing market.

The addressable markets for their main products and services are as follows:

• Global Consumer Goods Market: This market was valued at approximately USD 1.8 trillion in 2023. It is projected to expand at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2028.
• Global Brand Licensing Market: This market was valued at around USD 304.15 billion in 2024. It is predicted to grow to approximately USD 490.73 billion by 2034, with a compound annual growth rate (CAGR) of roughly 4.90% between 2025 and 2034.

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The Brand House Collective (TBHC) is focusing on several key initiatives to drive future revenue growth over the next two to three years. These strategies primarily revolve around brand transformation, market expansion, and operational efficiencies.

Here are 3-5 expected drivers of future revenue growth for Brand House Collective:

1. Conversion of Kirkland's Home Stores to Bed Bath & Beyond Home: The company has begun converting its Kirkland's Home stores to the Bed Bath & Beyond Home format. The successful grand opening of the first Bed Bath & Beyond Home store in Nashville, TN, reportedly surpassed expectations and generated national excitement, underscoring the strength of the Bed Bath & Beyond brand. This initiative aims to leverage the strong market presence of the Bed Bath & Beyond brand to drive increased foot traffic and attract new customers.
2. Expansion into Wholesale Markets: Brand House Collective is actively pursuing new opportunities by monetizing the Kirkland's Home brand. This includes selling Kirkland's Home products within Bed Bath & Beyond stores and establishing wholesale partnerships with independent retailers. This expansion into the wholesale market is expected to broaden the company's reach and improve supply chain efficiency and product unit economics.
3. New Customer Acquisition via Bed Bath & Beyond Brand: The strategic shift to the Bed Bath & Beyond Home brand is proving effective in attracting new customers. The initial store conversion resulted in significant increases in traffic and new customer acquisition, particularly in key categories like bedroom and kitchen. This indicates that the Bed Bath & Beyond brand is a strong draw for consumers, which can contribute to higher sales.
4. Optimizing Real Estate and Streamlining Operations: While not a direct revenue driver, the company's "operational reset" focuses on streamlining its retail footprint, strengthening core execution, and building a more robust foundation. This involves reducing excess inventory, closing underperforming locations, and optimizing real estate assets. These efforts are crucial for improving overall profitability and freeing up resources that can be reinvested into growth initiatives, ultimately supporting future revenue expansion.

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Share Issuance

• In the second quarter of fiscal year 2025, diluted weighted average shares outstanding increased significantly, mainly due to Beyond, Inc. acquiring approximately 8.9 million shares of common stock in Brand House Collective.

Inbound Investments

• On September 15, 2025, Brand House Collective sold the Kirkland's Home intellectual property to Bed Bath & Beyond, Inc. (now Beyond, Inc.) for $10 million.
• Concurrently, on September 15, 2025, the Company secured a $20 million expansion of its existing credit agreement with Bed Bath & Beyond, Inc. to support current operations, store conversion, and channel expansion plans.
• Beyond, Inc. became a 40% owner of The Brand House Collective by acquiring approximately 8.9 million shares of common stock. The amended agreement also allows for the conversion of loans from the $20 million commitment into equity, potentially up to 75% of TBHC's outstanding common stock.

Capital Expenditures

• Capital expenditures for the second quarter of fiscal year 2025 were approximately $1.0 million, and for the 26-week period ending August 2, 2025, they were approximately $1.2 million.
• The primary focus of capital expenditures includes plans to open 5 additional Bed Bath & Beyond Home stores in the greater Nashville market in fiscal 2025 and to convert all Kirkland's Home stores into Bed Bath & Beyond stores over the next 24 months.
• Future capital expenditures are anticipated for the development of store plans for the broader portfolio of Bed Bath & Beyond brands, with the first buybuy Baby store expected to open in fiscal 2026.