"As you'll hear from my interview with Watkins this week's episode of Fast Company's Most Innovative Companies podcast, she is a Walmart veteran, who began her career in the real estate division in 2006. Over the next two decades, she rose up through the ranks to become Walmart's chief merchant in 2023, making her one of the most powerful people in the retail industry, responsible for choosing the $500 billion worth of products the company sells every year."
"In recent years, Watkins has made a deliberate attempt to woo higher income consumers into stores by introducing higher-end brands, like Sonos and LaRoche Posay, as well as elevating its fashion, home and food private labels. Her team's product curation appears to be working: In recent quarters, Walmart's has been gaining market share among households that make upwards of $100,000 a year."
Latriece Watkins began her Walmart career in the real estate division in 2006 and advanced to become chief merchant in 2023, overseeing $500 billion in annual product selection. She introduced higher-end brands and elevated private-label fashion, home, and food lines to attract higher-income shoppers, helping Walmart gain share among households earning over $100,000. Watkins now leads Sam's Club, which generated $90.2 billion in net sales across 600 stores in 2024, about 13% of Walmart's revenue. She must compete with Costco, whose Kirkland private label drives roughly a third of its revenue. Under her leadership Walmart launched Bettergoods, a value-priced, design-forward grocery brand.
Read at Fast Company
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