SpartanNash will expand the number of premium private label products it will offer with the addition of Finest Reserve by Our Family, which is planned for an October launch, reports the Private Label Manufacturers Association.
Jefferies food retail analyst Rob Dickerson also said that a collection of wines from Italy are slated to be among the first Finest Reserve items rolled out, according to his research.
“Building on the OwnBrands equity, Finest Reserve by Our Family is the first foray into premium private label,” Dickerson said. “Finest Reserve differentiates itself from standard private label through sourcing ingredients such as [those in] national premium brands.”
A spokesperson for SpartanNash confirmed the planned launch to PLMA, but said the company doesn’t plan to release any more details about the new brand until its official debut.
During a recent company event, SpartanNash announced it was looking to grow its OwnBrands penetration by more than 20% with the launch of more than 1,000 private label products by 2025. At the same time, SpartanNash said that it had boosted its private brand dollar and unit share for 17 consecutive quarters.
Additionally, its Fresh & Finest by Our Family brand which focuses on fresh and prepared foods — spanning the bakery, deli, meat, and produce departments — has continued to expand since it launched (late 2021), with more than 480 Fresh & Finest items introduced year-to-date.
This comes as SpartanNash released its financial results for its 16-week first quarter with net sales of $2.91 billion, which is an increase of 5.2% compared to $2.76 billion in the prior-year quarter.
The grocer listed “amplifying convenience and indulgence” and a “differentiated OwnBrands portfolio” as a couple of ways to enhance the shopper experience, driven by insights.