PRIVATE LABEL
A private label, also called a private brand or private-label brand, is a brand owned by a company, offered by that company alongside and competing with brands from other businesses. A private-label brand is almost always offered exclusively by the firm that owns it.
The term private label originated in retail, but has since been used in other industries as well. Probably the best known private-label brands are store brands, which are managed by supermarket and grocery store chains.
Private Label products have often been perceived as being the lower quality choice compared to branded products. However, this is no longer the case.
Retailers have responded to the increasing demands of the consumer by ensuring their Private Label products are more innovative, diverse with a competitive price and therefore more appealing than ever before. Consequently, by establishing a much better balance of quality and affordability, Private Label goods have skyrocketed in popularity, resulting in far greater opportunities than ever before for these products.