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TWST: If you would, give us from your viewpoint, a quick summary sketch
on the company, enough information that would put our readers into
context as what you see as your business, and what you see as your
company today.
Mr. Goergen: The way we describe ourselves is that Blyth is a leading
designer, manufacturer, marketer, and distributor of an extensive line
of candles and home fragrance products, including scented candles,
outdoor citronella candles, potpourri, and environmental fragrance
products. In addition, we market a broad range of related candle
accessories and decorative give bags and tags, and through our 1997
acquisition of Sterno and Handyfuel Brands, Blyth is also the leading
producer of portable heating fuel products. And we operate 28
manufacturing and distribution facilities in 10 countries in North
America and Europe. TWST: What are the key issues, or I guess the trends in this marketplace
today, and what impact will they have on your company over the next year
or two?
Mr. Goergen: I think the whole question is, as we've defined ourselves
as a home fragrance business, the extent to which, and the form in which
women would like to fragrance their homes, and the choice of products
that we can offer, or that our competitors can offer. Clearly, that is
a part of the fabric of America and Canada, and becoming so more and
more in Europe. The fragranced candle grew very rapidly during the
early 1990s and mid 1990s in the United States and Canada, and with our
moves into Europe, we believe that there is an opportunity also to have
fragranced candles become a convenient choice for home fragrance
delivery in European homes. And if that works out, our growth will be
considerable in Europe, as the penetration, or the share of market, of
fragranced candles is much, much smaller in Europe than it in the United
States and Canada. We estimate that in the United States, of the total
candle market, 70% of the candles, at least, are fragranced, and in
Europe it's closer to 5%, and that varies from country to country with
the United Kingdom being the most developed at 25% to 35%. And that's
because we and our affiliate, Colony Gift Corporation in the UK, have
been working in that market for over 10 years.
Tickers included in this excerpt: BTH
For more information call (212) 952 7400. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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