Helen of Troy Corporation designs, markets, and distributes quality hair care appliances and related products worldwide. The company commands a strong and growing position with its products for the consumer market, which it sells under the license Vidal Sassoon and Revlon brand names. The company also markets its own professional products for the styling salon industry.
The Helen Of Troy Company Products transformation from a struggling chain of wig shops into an industry leader is primarily credited to shrewd and timely licensing, from its purchase of limited rights to the Vidal Sassoon name in to the acquisition of rights to use the Dazey, Carel, and Dr. Scholl's brands. Line extensions and geographic diversification helped Helen of Troy enjoy a growth rate of 15 percent from to in spite of its concentration in a generally low-growth industry.
By the early s, the company sold brushes, combs, hair accessories, shavers, and massagers as well as its core electric and battery operated hair care appliances. The company was founded in by Louis Rubin, a Chicago native who had moved to El Paso, Texas, to enjoy the weather. A year veteran of the wholesale and retail cosmetics business, Rubin and his year-old son Gerald launched Helen of Troy to sell wigs, then a mainstream fashion accessory.
Wigs were so hot that the father-son team soon had six boutiques in El Paso and their company Helen Of Troy Company Products ranked among the top firms in the industry.
In the early s, however, wigs fell out of fashion. In the middle years of the decade, the Rubins phased out their wig business in favor of professional-quality styling tools like blow dryers and curling irons. ByHelen of Troy had cultivated a 25 percent niche in that market and Helen Of Troy Company Products sold the company to Gerald. Rubin wanted to penetrate the high-growth consumer hair appliance market, but faced several obstacles.
Competition from industry giants like General Electric and Gillette would require massive cash outlays to advertise the Helen of Troy brand. In fact, those entrenched companies' yearly advertising and promotion budgets surpassed the Texas firm's annual sales. With its comparatively meager cash flow, Helen of Troy would be hard-pressed just to penetrate the consumer Us Craftmaster Water Heater Company, let alone bring the brand to profitability.
Rubin also worried that a mass launch of the nameplate would alienate its core hairdresser clients. Louis Virtualcompany alerted his son to a possible solution inwhen he discovered that British hairstylist-to-the-stars Vidal Sassoon was seeking licensees for his famous name.
As Inc. Brown put it in his article, "it was as if God had decided to speak directly to [Gerald Rubin]. When Rubin approached Sassoon about the license, he found himself in a bidding war with none other than Gillette and General Electric. The license covered "all of Sassoon's electric- or battery-powered personal care appliances in the United States and Canada. Rubin had to swallow his pride and face the fact that his company's name was becoming a "Trojan brand," hidden behind the well-known Jackson Brewing Company trademark.
Sassoon products quickly grew to account for 80 percent of sales, but the company did not abandon its Helen of Troy name, maintaining that brand for its professional line. The Rubin family retained about a 20 percent stake in Helen of Troy. Helen of Troy wasn't the only company to benefit from the Sassoon name's cachet.
When Helen of Troy's licensing contract came up for renewal in that same year, Rubin Helen Of Troy Company Products a reduction of the royalty to 7 percent. Helen of Troy didn't rely solely on the Sassoon name for its Property Company Profile Rubin and his employees also worked hard to cultivate a reputation for attentive customer service and timely delivery.
Although it did not manufacture its own goods, its well-chosen Asian suppliers enabled the company to boast "the lowest defect rate in the industry" in its annual report. While still only a small fraction of its total business, the firm's continuing interaction with professional stylists via its original Helen of Troy brand proved pivotal to this effort. Late in the decade, Helen of Troy launched the "Sable" line of hair care appliances designed especially for African-Americans' typically thicker, less manageable hair.
The company Helen Of Troy Company Products diversified its distribution channels from its traditional emphasis on department stores to include mass merchants, discounters, and supermarkets during this period. While the company continued to refine and expand its product line in the early s, it also focused on two new growth strategies: geographic diversification and additional licensing.
The company expanded its international licensing agreement to include 12 other European nations, including France and Germany, in By the end of fiscaloverseas sales accounted for nearly one-third Zeeta Company Helen of Troy's annual revenues.
Seeking a repeat of its success with the Vidal Sassoon brand, in Helen of Troy licensed global rights excluding Mexico and parts of Europe to apply the Revlon label to its hair care appliances.
Contrary to some observers' warnings, the Revlon line did not cannibalize sales from the Vidal Sassoon products. Helen of Troy expanded its rights to the Revlon brand to include ladies' shavers and artificial nails in That fall, the company made its first forays outside the hair care business with the acquisition of North American rights to Dr.
Scholl's brand foot baths, foot massagers, and body massagers, as well as Dazey, Lady Dazey, and Lady Carel brand "hard hat" salon-style hair dryers and Turbo Spa products. Helen of Troy sold its faltering Beauty Biz Inc. Industry analysts were unified in their optimism about Helen of Troy's future prospects. Both M. Principal Subsidiaries: International Appliances Ltd. Barbados ; Helen of Troy Services Ltd.
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The Power of One: Helen of Troy's Culture Transformation Journey In May of 2015, we launched an ambitious five-year strategic plan intended to transform Helen of Troy into a faster-growing, consumer-centric operating company unified by a common culture.…
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May 21, 2019 · Helen of Troy is a global consumer products company that has three business segments: Housewares, Healthcare / Home Environment, and Personal Care. Housewares segment provides a broad range of products to help with food preparation, cooking, cleaning, organization, beverage service, and other tasks to ease everyday living for families.4.1/5…
Shop for Helen Of Troy products at Sally Beauty. We offer salon professional beauty supplies and products for all your beauty needs.…
We are a leading global consumer products company offering creative solutions for our customers through a strong portfolio of well-recognized and widely-trusted brands, including OXO®, Hydro Flask®, Vicks®, Braun®, Honeywell®, PUR®, and Hot Tools®.…