Hamilton Beach 2012 Annual Report Download - page 21

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programs designed to make HBB the
preferred source for small appliances.
3. Achieving further penetration of
the global Commercial market through
a commitment to an enhanced global
product line for chains and distributors
serving the global food service and
hospitality markets. HBB expects to
enhance its global commercial product
line, particularly with new innovative
blending and mixing platforms, and
strengthen food service and hospitality
options in order to achieve further
market penetration in this segment.
Over the near term, the company
anticipates continuing to incur costs
to build distribution capabilities and
increase the number of sales repre-
sentatives in the international food
service market.
4. Expanding internationally in
the emerging Asian and Latin American
markets by offering products designed
specifically for those market needs and
by expanding distribution channels
and sales and marketing capabilities.
HBB’s historical strength has been in
the domestic consumer goods market,
with only 24 percent of total sales in
2012 occurring outside the United
States. The company’s objective is to
increase international sales to 35 to
45 percent of total sales. HBB’s efforts
will focus on continuing to expand in
Mexico, Canada and Central America, as
well as entering the emerging markets
of China, India, Brazil and other South
American countries. To achieve this
growth, the company is working to
understand local consumers’ needs
and developing products to meet those
needs, especially in the mid- to high-end
segments of these markets. In addition,
HBB expects to work with local partners
in certain targeted countries.
5. Entering the “only-the-best”
market with a strong brand and broad
product line. HBB is planning to enter
the “only-the-best” high-end small
kitchen appliance market in selected
segments. The company is currently
working with Jamba Juice®to create
a product line focused on blending
and juicing. HBB also is seeking other
partners to create additional lines that
can be distributed in high-end specialty
stores and on the Internet.
HBB believes these five strategic
initiatives provide a solid set of strategies
for profitable growth. The company is
optimistic that it will be able to build
on momentum achieved in distribution
in 2012, and make continued progress
in expanding in selected international
consumer and global commercial
Hamilton Beach Brands’ newest Proctor Silex® products include, clockwise from top: Proctor Silex®
programmable 12-cup coffeemaker, Proctor Silex® 10-speed blender and Proctor Silex® 4-quart slow cooker.