Hamilton Beach Brands, Inc. and The Clorox Company Enter into an Exclusive Multiyear Trademark Licensing Agreement
RICHMOND, Va., June 4, 2021 /PRNewswire/ -- Hamilton Beach Brands, Inc., a wholly owned subsidiary of Hamilton Beach Brands Holding Company (NYSE: HBB), announced today that it has entered into an exclusive multiyear trademark licensing agreement with The Clorox Company (NYSE: CLX).
RICHMOND, Va., June 4, 2021 /PRNewswire/ -- Hamilton Beach Brands, Inc., a wholly owned subsidiary of Hamilton Beach Brands Holding Company (NYSE: HBB), announced today that it has entered into an exclusive multiyear trademark licensing agreement with The Clorox Company (NYSE: CLX). Under the agreement, Hamilton Beach Brands plans to launch a line of premium air purifiers under the Clorox® brand name that will remove 99.97% of allergens and particulates from pollen, dust, smoke and mold as well as household appliances designed to kill viruses and bacteria. This partnership brings together market leaders in cleaning and disinfection and small appliances.
Hamilton Beach Brands and Clorox are collaborating in the development of this new line of premium air purifiers, with some scheduled to be launched this year and other products to be added in 2022. The products will complement Clorox's growing portfolio of surface and air disinfecting products as well as Hamilton Beach Brands' line of air purification products. Over time, the companies plan to develop additional appliances for the home health and wellness market.
"We are extremely pleased to have Clorox as our partner as we expand our participation in the multibillion-dollar home health and wellness market," said Scott Tidey, senior vice president, consumer sales and marketing, Hamilton Beach Brands, Inc. "We are confident that our experience as a leading participant in the large and fast-growing air purifier market, combined with the trusted and well-known Clorox brand name that is synonymous with clean, will be a winning combination for providing consumers with superior product offerings. Our company has deep experience developing and sourcing exceptional products that meet high quality standards and offer the latest in technological advances. We have a long history of innovation and product development based on consumer insights. Our goal is to provide consumers with the best available options for reducing allergens, bacteria and viruses."
"This licensing agreement with Hamilton Beach Brands will enhance our growing portfolio of surface and air disinfection products," said Chris Hyder, senior vice president and general manager – Cleaning at The Clorox Company. "It is one of many initiatives we're undertaking to develop new growth runways – whether through strategic partnerships like this or innovation that meets evolving consumer needs – as we build a truly global disinfecting brand."
Hamilton Beach Brands will source and market the new line and distribute the products through both online and brick-and-mortar channels. Distribution is planned for the U.S. (including all territories and military bases), Canada and Mexico markets. The initial Clorox air purifiers will have true HEPA filters that are designed to capture 99.97% of allergens and particulates from pollen, dust, smoke and mold as well as reduce viruses and bacteria in the air. Product pricing at retail is expected to range from $89.99 to $229.99.
"We are excited to partner with Hamilton Beach Brands to accelerate innovation and create a superior consumer experience in such an important category," said Rory Wehrlie, director, Office of Strategic Alliances, Clorox. "Consistent with our Clorox IGNITE Strategy, we are expanding our portfolio to address evolving consumer needs through strategic partnerships with like-minded companies."
According to NPD, which tracks the sale of small appliances, the U.S. market for air purifiers in 2020 more than doubled in size to $942 million from $407 million in 2019. These amounts do not include the sale of replacement filters. The demand surge for air purifiers in 2020 was driven by consumer concerns about the Covid-19 pandemic, the impact of wildfires on air quality, and a stronger and longer allergy season. Consumers are expected to become increasingly concerned with indoor air quality at home and in businesses driving the continued rapid growth of air purifiers to help remove harmful particulates, eliminate odors, and protect against a myriad of diseases.
About Hamilton Beach Brands Holding Company
Hamilton Beach Brands Holding Company is a holding company for Hamilton Beach Brands, Inc., a leading designer, marketer and distributor of a wide range of branded small electric household and specialty housewares appliances, as well as commercial products for restaurants, fast food chains, bars and hotels. The Company's consumer brands include Hamilton Beach®, Proctor Silex®, Hamilton Beach® Professional, Weston®, and BrightlineTM personal care products. Hamilton Beach licenses the brands for Wolf Gourmet® countertop appliances, CHI® premium garment care products, and Clorox® air purifiers. Hamilton Beach markets the Bartesian® premium cocktail delivery system through an exclusive multiyear agreement. Commercial brands include Hamilton Beach Commercial® and Proctor Silex Commercial®. For more information about Hamilton Beach Brands Holding Company, visit the Company's website at www.hamiltonbeachbrands.com. The Company's brand websites include www.hamiltonbeach.com, www.proctorsilex.com, www.westonbrands.com, www.brightlineproducts.com, www.wolfgourmet.com, www.chisteam.com, www.bartesian.com, and www.hamiltonbeachcommercial.com.
About The Clorox Company
The Clorox Company is a leading multinational manufacturer and marketer of consumer and professional products with about 8,800 employees worldwide and fiscal year 2020 sales of $6.7 billion. Clorox markets some of the most trusted and recognized consumer brand names, including its namesake bleach and cleaning products; Pine-Sol® cleaners; Liquid-Plumr® clog removers; Poett® home care products; Fresh Step® cat litter; Glad® bags and wraps; Kingsford® grilling products; Hidden Valley® dressings and sauces; Brita® water-filtration products; Burt's Bees® natural personal care products; and RenewLife®, Rainbow Light®, Natural Vitality Calm™, NeoCell® and Stop Aging Now® vitamins, minerals and supplements. The company also markets industry-leading products and technologies for professional customers, including those sold under the CloroxPro™ and Clorox Healthcare® brand names. More than 80% of the company's sales are generated from brands that hold the No. 1 or No. 2 market share positions in their categories.
Clorox is a signatory of the United Nations Global Compact and the Ellen MacArthur Foundation's New Plastics Economy Global Commitment. The company has been broadly recognized for its corporate responsibility efforts, listed No. 1 on the 2020 Axios Harris Poll 100 reputation rankings and included on the Barron's 2021 100 Most Sustainable Companies list, 2021 Bloomberg Gender-Equality Index and the Human Rights Campaign's 2021 Corporate Equality Index, among others. In support of its communities, The Clorox Company and its foundations contributed more than $25 million in combined cash grants, product donations and cause marketing in fiscal year 2020. For more information, visit TheCloroxCompany.com, including the Good Growth blog, and follow the company on Twitter at @CloroxCo.
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SOURCE Hamilton Beach Brands Holding Company
