Hamilton Beach 2014 Annual Report Download - page 12

10
product development expertise to help ensure
products delight consumers across the most
desirable market opportunities. Finally, HBB
maintains and invests in a strong brand portfolio
to increase customer and consumer confidence
that HBB’s family of products is right for them.
Strategic Initiatives and Long-Term View
HBB’s vision includes delivering growth above
historic rates to reach sales of approximately
$750 million over the next four to five years. As
the company moves toward this target sales level,
HBB expects to take advantage of increasing
economies of scale to improve return on sales
by focusing on its five key strategic initiatives.
First, HBB is focused on enhancing place-
ments in the North American consumer business
through consumer-driven innovative products
and strong sales and marketing support. The
company’s product and placement track record is
strong due to innovation processes centered on
understanding and meeting end-user needs and
focusing on quality and best-in-class customer
service. In the North American consumer market,
HBB believes it has a stronger and deeper portfolio
of new products than its competitors. HBB expects
its product pipeline in 2015 and beyond to be at
or above 2014 levels, leveraging strong brands
and best-in-class products.
In pursuit of growing placements, HBB
acquired the Weston Products business (now
called Weston Brands) near the end of 2014.
Weston Brands markets and distributes appliances
and accessories under the proprietary Weston®
brand and private label brands for consumers who
are hunters, gardeners and food enthusiasts who
have a passion for Farm-to-Table and Field-to-Table
foods, and for knowing the origin of their food.
The U.S. population participating in the Field-to-
Table segment has grown almost 10 percent over
the past decade. In the Farm-to-Table segment,
about one-third of the U.S. population participates
in gardening or home harvesting. As interest in
home harvesting, farmers’ markets and more
wholesome food choices continues to expand, this
acquisition is expected to deliver growth at a rate
at or above HBB’s core kitchen appliance business.
A second area of growth opportunity is
through the enhancement of online sales and
Products available from Hamilton Beach Brands’
new acquisition Weston Brands, include,
clockwise from top: Weston®Fruit & Wine Press,
Weston®Pro Series Meat Grinder,
Weston®Professional Advantage Vacuum Sealer,
Weston®Electric Pasta Machine and
Weston®Cabbage Shredder