Newell Rubbermaid (NYSE: NWL) today announced the expansion of its office in Shanghai as the company continues to drive its Growth Game Plan into action.
A traditional lion dance marked the opening of Newell Rubbermaid's expanded office in Shanghai. (Photo: Business Wire)
“We are adding space to accommodate a growing team with new capabilities, supported by a larger investment in the brands within our portfolio that have the ability to win bigger in this priority market,” said Bill Burke, Chief Operating Officer of Newell Rubbermaid. “For a number of years, our Tools and Fine Writing businesses have led the way in China with solid growth, and our Commercial Products and Baby segments are also making good progress. We are now in a position to begin building our go-to-market system at scale in China, utilizing Shanghai as a key hub.”
“Newell Rubbermaid has preferred brands and leading market shares in many countries across the world. This is an exciting new growth phase for the company as it accelerates investment and builds its business in one of the fastest growing and most dynamic markets in the world,” said Mark Tarchetti, Newell Rubbermaid’s incoming Chief Development Officer.
Newell Rubbermaid’s Growth Game Plan strategy is leveraging global megatrends fueling consumption that are especially prominent in China. For example, as consumers’ aspirations and wealth increase, they are seeking brands that are symbolic of their newfound achievement. This is driving the growth of the company’s Fine Writing brands, including Parker® and Waterman®. The company has over 450 branded shop-in-shops operating in department stores across China.With China’s steel production approaching half of total world output, the company’s Lenox® brand of industrial cutting solutions has seen strong growth by enabling the processing of steel and other metals into manufactured goods, especially in heavy industries such as aviation, shipbuilding and autos.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts