Grove Co. Shares Up After Expanding Retail Presence with Entry Into Kohl’s, Meijer and Giant Eagle
Jul 7, 2022 By MarketDepth
Grove Collaborative Holdings, Inc. (NYSE: GROV) shares jumped more than 50% after the sustainable consumer products company announced Thursday a significant retail expansion for Grove Co., its flagship home care brand. The Company, which is committed to becoming 100% plastic-free by 2025, added three retailers – Kohl’s, Giant Eagle and Meijer – as it continues to grow its omnichannel presence.
“We are excited to bring Grove Co.’s plastic-free home essentials into more stores, and to introduce new consumers to the brand as we continue on our mission to transform the consumer products industry into a positive force for human and environmental good. Grove Co.’s substantial retail expansion is a testament to the evolving consumer products landscape, where consumers are demanding more sustainable options, and to the strong results we’ve had over the past year.”Stuart Landesberg, co-founder and CEO of Grove Collaborative
In recent months, Grove also expanded its retail presence at select Kohl’s, Giant Eagle and Meijer store locations with a curated selection of Grove Co.’s cleaning line. The retail expansion increases consumer access to the brand, helping more shoppers adopt a sustainable lifestyle by putting plastic-free and zero plastic waste cleaner concentrates, hand soaps, dish soaps, reusable glass dispensers and more, on shelves.