True Value takes an aggressive new approach

The annual convention of True Value dealers is no longer called a market. It’s called a Reunion. The office in Chicago is no longer called Retail Headquarters. It’s called the Retail Support Center.



Cosmetic changes? Perhaps. But a new slate of executives are making it clear that it’s not business as usual at the co-op.



At the top of that movement is CEO John Hartmann, who has frequently described 2014 as a “transformational year” for True Value.



Also in a relatively new role is Ken Goodgame, a former Ace, Home Depot and Black & Decker executive, who took on the role of senior VP and chief merchandising officer in November. “When I was at Black & Decker, just beginning in the business, True Value was the big dog,” he told dealers in the spring. “We want to return True Value to the top spot with a sense of urgency.”



One area that keeps the company busy is the building of a youth movement. “The generations behind the baby boomers now outnumber the baby boomers,” Hartmann said. “We need to ensure the Destination True Value format is relevant to a group we’re calling ‘young achievers.’ ”



In May, a roundtable of 85 shared their thoughts on attracting young retailers to the co-op and how to reach out to younger consumers. He declined to share specific insights for competitive reasons, but he offered his take on success: “The independent hardware store, whether it’s True Value or whatever flag they fly, has to be relevant to succeed.”