home decor

Who Owns HomeSense? A Deep Dive into the Popular Home Décor Brand

If you’ve shopped for stylish home décor and furniture, you’re probably familiar with HomeSense. Known for its eclectic mix of quality yet affordable furnishings, this home retailer has become a favorite for homeowners and decorators alike. But have you ever wondered, who owns HomeSense?

Dive into this blog to uncover the story behind HomeSense’s ownership, its history, who controls its decisions, and how it fares in the competitive landscape of home goods retail. Whether you’re a curious shopper or someone interested in retail business dynamics, you’ll find some fascinating insights here!

What Is HomeSense?

HomeSense is a leading discount home décor retailer known for offering a wide array of stylish and functional products at wallet-friendly prices. From furnishing your living room to accessorizing your kitchen, HomeSense provides shoppers with a treasure trove of items that stay on top of design trends. Customers flock to HomeSense not just for the prices but for the joy of discovering unique products that can revitalize any room.

It’s worth noting that HomeSense isn’t merely a standalone brand but part of a larger retail family.

The History of HomeSense

HomeSense opened its doors in Canada in 2001, brought to life as an off-price home furnishing store. Following its parent company’s success with brands like T.J.Maxx and Marshalls, HomeSense aimed to fill a gap in the market for affordable yet high-quality home goods.

While its initial operations began in Canada, HomeSense expanded into the United States and the United Kingdom, where it became a sought-after destination for unique décor items, furniture, and more. Today, HomeSense boasts numerous locations worldwide, recognized for its “treasure hunt” shopping experience.

But what lies behind the brand’s catchy aisles and sales tags? To understand HomeSense’s success, we need to look at its ownership.

Who Owns HomeSense?

HomeSense is part of the TJX Companies, Inc., a retail giant headquartered in Framingham, Massachusetts, USA. Founded in 1956 as Zayre Corp, TJX Companies rebranded in 1989 to focus on off-price retail businesses, which include T.J.Maxx, Marshalls, and later, HomeGoods and HomeSense.

TJX Companies is the sole owner of HomeSense as it operates as one of its many retail chains. With proven expertise in off-price retailing, TJX Companies provides HomeSense with financial backing, business strategies, and a leadership structure that ensures its sustained growth and market reach.

A Quick Recap of TJX Companies

Here are a few essential facts about the parent company:

  • Full Name: The TJX Companies, Inc.
  • Headquarters: Framingham, Massachusetts, USA
  • Founded: 1976 (originally emerged from Zayre Corp.)
  • Retail Segments:
    • Fashion/Apparel: Brands like T.J.Maxx, Marshalls
    • Home Goods: HomeGoods, HomeSense
    • International Divisions: Winners, TK Maxx, HomeSense (in Europe and Canada)
    • Global Presence: Operates over 4,800 stores across nine countries.
    For decades, TJX’s off-price strategy has been its core strength, allowing its brands—including HomeSense—to thrive in a competitive retail landscape.

List of Shareholders of HomeSense

Since HomeSense is owned entirely by TJX Companies, Inc., the shareholders of TJX Companies are, by extension, the indirect shareholders of HomeSense. TJX Companies is publicly traded on the New York Stock Exchange under the ticker symbol “TJX.” Here’s a closer look at TJX Companies’ primary shareholders and their roles in the company’s operations.

The Vanguard Group, Inc.

  • Ownership Percentage: ~8.72%
  • Role: Largest institutional investor and shareholder
  • Control: Provides voting power to influence major corporate decisions but does not have direct managerial control.

BlackRock, Inc.

  • Ownership Percentage: ~7.22%
  • Role: Major asset management firm holding significant shares
  • Control: Exercises voting rights on behalf of shareholders but plays no operational role.

State Street Corporation

  • Ownership Percentage: ~4.13%
  • Role: Keeps a diversified portfolio, including TJX stock holdings
  • Control: Limited to voting on broad policy governance decisions.

TJX Executives and Insiders

  • Ownership Percentage: Combined ~1.5%
  • Role: Company leadership, including executives and board members, who influence day-to-day operations and long-term strategies.
  • Control: Directly involved in decision-making and business growth.

Note: Percentages represent approximate ownership as of October 2023 and may vary due to market changes.

Who Controls HomeSense?

While shareholders have a say in governance through voting rights (particularly for board appointments), day-to-day control of HomeSense lies in the hands of TJX Companies’ executives and key departments.

Key Decision-Making Roles within TJX Companies

  • CEO: Ernie Herrman—Oversees overall operations across all TJX Companies’ brands, including HomeSense.
  • HomeGoods/HomeSense Segment Directors: This team focuses specifically on positioning and managing HomeSense stores as part of TJX Companies’ home goods portfolio.

Policies, supply chain decisions, and marketing campaigns for HomeSense are primarily controlled at TJX’s headquarters level. HomeSense benefits from the company’s decades of expertise in scaling off-price retail chains effectively.

HomeSense Market Share and Competitors

Market Share

HomeSense excels as part of TJX Companies, which has steadily dominated the global off-price retail market. TJX’s revenue surpassed $50 billion in 2022, with the HomeGoods/HomeSense segment contributing significantly to that growth. While exact financials for HomeSense alone are not disclosed, its widespread popularity indicates a solid share in the home furnishings market.

Top Competitors

  1. IKEA
  • Market Position: Leader in affordable, flat-pack furniture and home décor
  • Market Share (Furniture Industry): ~8% globally in 2022
  • Competitive Edge: Scalability and unique style of self-assembled furniture.
  1. Wayfair
  • Market Position: E-commerce giant specializing in home furnishings.
  • Market Share: Wayfair’s 2022 revenue was $12.2 billion.
  • Competitive Edge: Extensive online catalog and direct-to-consumer approach.
  1. Bed Bath & Beyond
  • Market Position: Longstanding retail chain for home essentials.
  • Current Struggles: Financial challenges leading to a declining share of the market.
  • Competitive Edge: Wide selection and dedicated customer base.
  1. At Home
  • Market Position: Off-price competitor focused solely on home goods.
  • Market Share: Smaller than HomeSense but growing in the U.S. market.
  • Competitive Edge: Large-format stores with budget-conscious shopping.

While other competitors like Target (for home décor) and Amazon (for general e-commerce) also challenge HomeSense indirectly, HomeSense’s unique, treasure-hunt shopping format helps it stand out.

How TJX Operates HomeSense

The TJX Companies employ a unique off-price retail model that contributes heavily to their success. This operational approach also emphasizes why HomeSense differentiates itself from other home décor retailers. Here’s a closer look at how TJX manages HomeSense:

1. Off-Price Buying Strategy

HomeSense (along with other TJX brands) sources products from a vast network of suppliers. Rather than keeping predictable inventory year-round, it acquires overstocks, closeouts, and unique designs directly from suppliers—often at deeply discounted rates. These savings are passed directly to customers, which is why HomeSense can offer designer pieces at surprisingly affordable prices.

2. A Constantly Evolving Mix

Unlike traditional furniture retail stores, HomeSense doesn’t follow a fixed catalog. Inventory rotates frequently based on seasonal trends and market opportunities. This “treasure-hunt” shopping model ensures customers are continuously intrigued and incentivized to visit stores frequently.

3. Global Sourcing Power

Thanks to TJX’s scale, HomeSense benefits from regional and international sourcing capabilities. Whether it’s rugs from Turkey, lighting fixtures from Italy, or artisanal finds from small-scale suppliers, shoppers often find globally inspired items on HomeSense shelves.

4. Local Customization

Another fascinating aspect is how TJX adapts HomeSense to fit its markets. While Canadian HomeSense stores lean into European aesthetics, U.S.-based locations incorporate both contemporary and traditional American design preferences.

The synergy between TJX’s monumental buying power and localized offerings ensures HomeSense caters broadly to its diverse customer base.

Where Can You Find HomeSense?

HomeSense has a geographical footprint that spans multiple countries, including:

1. Canada

Canada was the birthplace of HomeSense in 2001, and it remains one of the strongest markets for the brand. With over 100 locations nationwide, it enjoys significant popularity among Canadian shoppers.

2. United Kingdom

HomeSense entered the UK retail scene in 2008 and has since become a favorite for customers seeking premium home products at reduced prices. It operates alongside TJX’s TK Maxx stores in the region.

3. United States

While the U.S. has been home to T.J.Maxx and Marshalls for decades, HomeSense only arrived in 2017. With a growing number of stores, it continues to captivate American shoppers.

While Canada, the UK, and the U.S. are HomeSense’s primary markets, it also maintains a presence in other parts of Europe through TJX’s international operations.

Why Do Shoppers Love HomeSense?

What makes HomeSense stand out from its competitors? Here’s a quick rundown of the retailer’s biggest draws:

Affordable Luxury

With HomeSense, customers can create luxurious spaces without blowing their budgets. Discounts can range from 20% to 60% off traditional retail pricing.

Unique Finds

Each HomeSense store is unique, offering items you might not find anywhere else. From globally sourced statement pieces to quirky decorative accents, the variety is unmatched.

Tasting Global Design

Many products at HomeSense come from international suppliers, allowing customers to incorporate global culture into their homes.

Tactile Shopping Experience

While online shopping has dominated many industries, HomeSense remains popular because of the joy of in-store discovery—an experience many customers value.

Sustainability Perks

By selling closeouts and overstocks, HomeSense also plays a role in reducing industry waste.

For shoppers who love the thrill of uncovering hidden treasures, HomeSense offers an unparalleled retail experience.

Why HomeSense’s Ownership Matters

Understanding the ownership and control of HomeSense gives insight into why this brand continues to thrive. Backed by the vast experience and resources of TJX Companies, HomeSense is part of a retail empire that has mastered the art of off-price retailing while providing customers with exceptional value.

For shoppers, this means having a reliable source for well-curated home goods, while investors and analysts see HomeSense’s ownership as a contributing factor to TJX Companies’ overall success.

FAQs

Who started HomeSense?

HomeSense was launched by TJX Companies in 2001 as part of its portfolio of off-price retail businesses.

Is HomeSense the same as HomeGoods?

While both HomeSense and HomeGoods are owned by TJX Companies, they differ slightly. HomeGoods focuses on general home décor, while HomeSense offers larger furniture pieces and home improvement items.

Does HomeSense operate globally?

Yes, HomeSense has locations in countries such as Canada, the United States, the United Kingdom, and Europe.

Can I buy HomeSense products online?

Currently, HomeSense focuses on in-store shopping with no dedicated e-commerce platform, although some items may be found on TJX Companies’ websites.