ASW Conversations: Nick Brunet talks changes, growth
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It’s been a year now since Nick Brunet took over as the president of Bestbuy Distributors.
At the company’s annual Buy & Sell event, held in Vancouver this year, Auto Service World Conversations host Adam Malik sat down with Brunet to reflect on his year at the helm and more.
Brunet gives his background on how he made his way to lead Bestbuy, which included a tenure with 3M and what was meant to be a pitstop but grew into more within the mattress industry.
Now back in the automotive aftermarket, he talked about challenges facing the industry, how distributors like his are adapting to change and how the aftermarket is shifting.
Brunet highlighted the “magnetic pull” of the industry, noting the wealth of knowledge and veteran experience. He emphasizes the importance of exposing younger generations to the opportunities in the aftermarket.
“There’s an opportunity for growth within our own industry for those who are interested in a future in automotive,” he said.
He explored challenges around inventory management, a big one over his first year, trying to make sure vendor fill rates in managed fill rates going out.
“With having very little control over that piece of that supply chain, so a lot of learnings there,” he said.
He also explored the “shocking” breadth of products, with “a million active SKUs” in the system that can’t just be eliminated due to the wide range of products in this industry.
Regarding growth, Brunet noted its shareholder base has grown and is trending upwards. He attributed the success to the “communal feel and family” within the shareholder group.
“We’re truly friends,” he explained. “People have seen their kids grow up with each other and it’s infectious when you bring in a new shareholder.”
Looking ahead, Brunet predicted continued consolidation in the industry — and with those that have been acquired, they may be looking for change as they may not fit in well with the new owners and that could lead to new opportunities for growth for Bestbuy.
“So we’re going to see some probably discontent within those who are being acquired,” Brunet said.
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