Consumer products company Helen of Troy Limited (HELE) is geared to bolster its presence in the health and wellness business through strategic agreements. As part of this strategy, Helen of Troy’s brand OXO has recently entered into a licensing agreement with pioneer of healthy non-stick cookware — The Cookware Company.
Under the agreement, Cookware is scheduled to launch three high-quality cookware bearing the brand name OXO Good Grips. The cookware will feature the popular Universal Design of OXO along with Cookware Company's premium materials, best-in-class Perfluorooctanoic (PFOA)-free coatings and advanced manufacturing and forging processes.
The OXO brand is widely known for user-friendly consumer products. The agreement will let OXO brand enter the category of non-stick utensils, while broadening Tarrytown, NY-based Cookware Company’s platform for innovation and adding brand power.
While broadening Tarrytown, NY-based Cookware Company’s platform with new products and brand power.
We are encouraged by Helen of Troy’s foray into newer categories. The company’s entrance into non-stick cookware closely follows its decision to acquire the U.S.-based retailer and health publisher Healthy Directions, LLC and its subsidiaries to enter the growing vitamins, minerals and supplements (VMS) category.
The future of the VMC business looks bright because according to Nutrition Business Journal, the market is expected to continue growing at a mid-to-high single-digit rate annually through 2020. Moreover, per the journal, more than 70% of the U.S. population, aged 55 years and above took vitamin supplements in 2013.
Apart from Cookware and Health Directions, Helen of Troy, currently carrying a Zacks Rank #4 (Sell) has entered into several strategic relationships with consumer product giants The Procter & Gamble Company (PG), Unilever plc (UL) and Revlon, Inc. (REV).
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