Spectrum Brands Holdings, Inc. (NYSE: SPB), a diversified and global consumer products company with market-leading brands, announced today that its Remington® personal care division has entered the U.S. women’s hair accessories market with a full line of basic-to-trend hair accessories, accessory storage items and brushes for both the adult and teenage girl segments.
Remington® already has secured sizeable placements at several major retailers in the U.S. women’s hair accessory category, a consumables market estimated at more than $1 billion annually. Remington® also is leveraging its strong global footprint in hair care, shaving and grooming to enter growing women’s hair accessories markets in Europe and Latin America.
“Our successful launch in the women’s hair accessory market is among a number of global categories Remington® is entering to advance our strategy of rapid organic growth in higher margin and faster growing consumables markets over the next several years,” said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. “We are investing in resources to capitalize on this significant growth platform, leveraging our Spectrum Value Model approach of ‘same performance/less price’ to gain distribution in both stores and online, and working hard to help our retail partners grow their category shares.”
Extending the Remington® brand to the consumable hair accessory category further enhances Remington’s position as one-stop shopping for hair styling for all ages. According to Drew Fiorenza, Remington® Global Vice President, “Our hair accessory product development has a strong emphasis on executing fashion and trend and always with a focus on winning the value position. With our brand positioning of ‘How the World Gets Ready,’ we have a unique opportunity for cross promoting our hair accessories with complementary segments of our business, such as hair care appliances, and even with other adjacent beauty categories by co-merchandising in stores and offering in-pack trial samples or coupons for discounts with purchase.
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