How Katie Secretan is steering Nisa to its new life as Co-op Wholesale

The appointment of Katie Secretan ushered in a “new era” for Co-op Wholesale. She took on the role of managing director in March, to mark its shift from Nisa to The Co-op name. It was far more than “just a name change”, Secretan insists. In practical terms, it means B2B partners now purchase through Co-op Wholesale, while the Nisa fascia remains unchanged on stores. Broadly, Co-op has talked about driving value for independent retailers and expansion into broader corporate B2B markets through Co-op Group.

Secretan has come into the role “laser focused” but with her eyes open. It’s just as well, considering she has a big job on her hands.

Revenue across Co-op’s wholesale division – then known as Nisa – fell 5.5% in 2024 to £1.4bn. More worryingly, it made a loss of £1m compared with a £14m profit the previous year. Challenging market conditions were cited as the primary cause, alongside investment in price for partners.

Despite that price investment, the commercial proposition just wasn’t strong enough, Secretan says. After listening to retailers, she came across a common theme. “The leverage of the Co-op wasn’t there,” she says. Even though Nisa was bought by Co-op in 2018, it “was still at arm’s length from the group, because it wasn’t accessing the tools available”.

With the Co-op name now behind the proposition, Secretan is confident she can turn things around. Price, loyalty, and engagement will sit at the heart of her plans. “I thrive off creating strategy, being fast-paced and decisive – and that comes from honest and transparent conversations,” she says.

Secretan is well qualified for the job, having developed strategy since she joined Nisa as director of sales & retail two years ago. 

Her partnership mindset doesn’t stem from a background in grocery retail, though. Secretan worked in IT and telecoms for 16 years before making a move into the food and drink space in 2018 as franchise director at Costa Coffee. She took on the same role at the Post Office two years later.

It’s a background that sets her apart from many other Co-op leaders, who have tended to come from national supermarkets. But throughout her career, a key set of transferrable skills stand out: “partnerships, independent retailers, trading and commercial”.

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Secretan’s plans for the business are all about “getting to the heart of what our retailers need from us to help them be the best”. Engagement is a top priority – one that is already reflected in actions, not just words. In April, Co-op Wholesale led its first-ever webinar, which focused on the disposable vape ban. That was followed last month by its first independent retailer and key accounts summit to discuss key growth areas.

These events cater to “entrepreneurial” retailers, says Secretan. “They know their store and communities better than anyone, but they don’t necessarily have access to tools and insight on legislation, security, and ranging. So, that’s what we pull together.”

The summit also gave Secretan the opportunity to speak directly with retailers. There, one concern stood out: tobacco pricing. “I spent hours with them after the conference and everyone said, ‘you need to change your tobacco pricing’,” she recalls.

So, last month, Co-op Wholesale announced a £2m investment in dropping the wholesale price of more than 500 tobacco lines from 1 August. “I want people to see I do listen – because being heard is key,” Secretan says.

Pricing also goes a long way to securing loyalty – even if you can only go so far. “You can have the best pricing in the world and the retailer will still ask for better pricing – that’s the natural entrepreneurial way,” she says. “The reality is the wholesale market has just become more promiscuous, and I think this all comes from retailers having a hard time in a declining market. They need support to make sure their proposition wholly meets the margin levels they need.”

For Co-op Wholesale, efforts to deliver that support have made it approximately 2%-3% cheaper than key competitors in the past six months, according to its wholesale price index.

Service and own label

Loyalty doesn’t only come from pricing, though. Co-op Wholesale’s service model, which promises “98% availability and 99% of deliveries arriving on time”, is also a significant contributor for Secretan. “Having full shelves at the right time is really important,” she says.

Co-op’s sizeable own label offer plays a big part, too. “It’s the jewel in the crown for the wholesale business. We’re working really hard to make sure we do more.”

Secretan appreciates some stores will stock a smaller own-label range because it suits their audience. But she stresses Co-op Wholesale is becoming a more diverse business. “It’s not one size fits all,” she adds.

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Hence June’s launch of the new ‘& Co-op’ dual-branded fascia, aimed at “strategic customers who have their own established identity”. It debuted with Roadchef and has also rolled out to four stores with forecourt retailer Highland Group.

The launch “doesn’t change our investment and commitment to the Nisa fascia”, Secretan stresses. In fact, the “heritage” brand continues to attract new retailers:  Co-op Wholesale recruited 50 new stores with the Nisa fascia this year.

A focus on retailers underpins all of these strategic moves, Secretan says. “I know decisions I make have an impact on retailers’ sustainability, margins, and their ability to do well in their stores,” she explains.  “It’s a massive responsibility.”

It’s a responsibility that will also determine whether the wholesaler’s “new era” is a successful one.