10/6/2011 12:21:00 AM
NEWS BRIEFS
Stanley Fastener Exec: Innovation Key to Success
Stanley Black & Decker’s $8.4 billion in sales are spread across three divisions — Construction & DIY, Industrial and Security — more than half is generated by CDIY, according to Kyle Dancho, Stanley Black & Decker’s president of Hand Tools and Fastening. And innovation drives sales, the Home Channel News reports.
“Thirty percent of our sales should come from products introduced in the last three years,” Dancho told reports at a media briefing in Manhattan. “That’s not a perfect rule. But it keeps innovation at the forefront.”
For Stanley, the merger with Black & Decker has allowed both brands, plus Bostitch, DeWalt and Porter Cable, to survive a challenging economy.
“The company has focused on balancing the brands, and the targets and the innovations, Dancho told reporters. While there is some overlap, the different brands appeal to different audiences across the home improvement and construction spectrum, the Home Channel News reports.
Diversification is another Stanley Black & Decker response to the week buying environment and extreme market volatility.
“Don’t rely on any one spot in the world,” he said. “Don’t rely on any one category.”
Currently, the CDIY division has 55% of its sales generated domestically. The company is moving toward a 40-60 split, with 60% of its sales outside the U.S. ©2011 GlobalFastenerNews.com
Stanley Black & Decker’s $8.4 billion in sales are spread across three divisions — Construction & DIY, Industrial and Security — more than half is generated by CDIY, according to Kyle Dancho, Stanley Black & Decker’s president of Hand Tools and Fastening.
And innovation drives sales, the Home Channel News reports.
“Thirty percent of our sales should come from products introduced in the last three years,” Dancho told reports at a media briefing in Manhattan. “That’s not a perfect rule. But it keeps innovation at the forefront.”
For Stanley, the merger with Black & Decker has allowed both brands, plus Bostitch, DeWalt and Porter Cable, to survive a challenging economy.
“The company has focused on balancing the brands, and the targets and the innovations, Dancho told reporters. While there is some overlap, the different brands appeal to different audiences across the home improvement and construction spectrum, the Home Channel News reports.
Diversification is another Stanley Black & Decker response to the week buying environment and extreme market volatility.
“Don’t rely on any one spot in the world,” he said. “Don’t rely on any one category.”
Currently, the CDIY division has 55% of its sales generated domestically. The company is moving toward a 40-60 split, with 60% of its sales outside the U.S. ©2011 GlobalFastenerNews.com
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