Clorox (CLX) may be a 104-year-old consumer products giant, but it continues to think like an innovative upstart based out of Oakland, California.
At least that is what Clorox chairman and CEO Benno Dorer conveyed in a new interview with TheStreet. Under Dorer's leadership over the last three years, Clorox has managed to get people to pay more while walking retailer aisles by injecting otherwise boring Fresh Step cat litter with Febreeze and adding new scents to disinfecting wipes. In laying out his vision for the company up to 2020 on Thursday, Dorer signaled the innovation push is far from over -- including in the bleach category.
"For the first time in our history, we are launching a bleach that doesn't just clean and disinfect but it also protects surfaces," Dorer revealed. Clorox is also expanding into the all-natural cosmetics space via new launches under Burt's Bees.
And the innovation burst is a good thing seeing as there is major disruption in retail right now, namely the shift to e-commerce shopping that is making it harder to get the attention of consumers. In order to get the business of consumers, a product has to fundamentally offer something different, Dorer explained.
For all of the work of Dorer and his team over the last three years, shares of Clorox have zoomed nearly 30% compared to the Dow Jones Industrial Average's 27% gain.
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Editors' pick: Originally published Oct. 5.