About Helen of Troy

Helen of Troy Limited operates as a global consumer products company offering creative products and solutions for its customers through a diversified portfolio of brands. The company’s leadership brands include the OXO, Hydro Flask, Osprey, Vicks, Braun, Honeywell, PUR, Hot Tools and Drybar brands. Segments The company operates through two segments, Home & Outdoor and Beauty & Wellness. Home & Outdoor This segment provides a broad range of innovative consumer products for home activities such as food preparation, cooking, cleaning, and organization; as well as products for outdoor and on the go activities, such as hydration, food storage, backpacks, and travel gear. This segment sells primarily to retailers as well as through its direct-to-consumer channel. Beauty & Wellness This segment provides beauty and wellness products, including mass and prestige market beauty appliances, prestige market liquid-based hair and personal care products, and wellness devices, including thermometers, water and air filtration systems, humidifiers, and fans. Sales for the segment are primarily to retailers, distributors, beauty supply wholesalers and through its direct-to-consumer channel. Products Home & Outdoor Food Preparation, Baking and Storage: Includes food preparation tools and gadgets including serving plates and bowls, utensils, scales, thermometers, measuring cups and spoons, timers, barware, cookware, bakeware, food storage containers and storage and organization products. Coffee and Tea: Includes coffee makers, grinders, manual pour overs and tea kettles. Cleaning and Bath: Includes household cleaning products, shower organization and bathroom accessories. Infant and Toddler: Includes feeding and drinking products, child seating, cleaning tools and nursery accessories. Hot and Cold Beverage Containers and Food Transport and Storage Solutions: includes insulated hydration bottles, hydration packs, drinkware, mugs, food containers, lunch containers, insulated totes, soft coolers and accessories. Backpacks, Daypacks, Luggage and Accessories: Includes technical and outdoor sports packs, hydration and travel packs and accessories, bike packs and bags, daypacks and everyday packs, duffel bags and luggage. Beauty & Wellness Hair Appliances and Accessories: Includes mass, professional and prestige market hair appliances, grooming brushes, tools and decorative hair accessories. Personal and Hair Care: Includes prestige market shampoos, liquid hair styling products, treatments and conditioners. Wellness Devices: Includes thermometers, blood pressure monitors, pulse oximeters, nasal aspirators, humidifiers, faucet mount water filtration systems and pitcher-based water filtration systems, air purifiers, heaters, and fans. Trademarks The company markets products under a number of trademarks that it owns and sells certain of its products under trademarks licensed from third parties. The company’s principal trademarks, both owned and licensed, have high levels of brand name recognition among retailers and consumers throughout the world. The Beauty & Wellness segment relies on the continued use of trademarks licensed under various agreements for a significant portion of its net sales revenue. As of February 28, 2023, the company sold its Brut trademark in connection with the sale of its Latin America and Caribbean Personal Care business. Home & Outdoor: Trademarks include OXO, Good Grips, Hydro Flask, Soft Works, OXO tot, OXO Brew, OXO Strive, OXO Outdoor, and Osprey. Beauty & Wellness: Trademarks include Drybar, Hot Tools, Curlsmith, and PUR. Sales and Marketing The company markets its products in over 100 countries throughout the world. The company’s segments primarily sell their products through mass merchandisers, drugstore chains, warehouse clubs, home improvement stores, grocery stores, specialty stores, beauty supply retailers, e-commerce retailers, wholesalers, and various types of distributors, as well as directly to consumers. The company collaborates extensively with its retail customers and, in many instances, produce specific versions of its product lines with exclusive designs and packaging for their stores, which are appropriately priced for their respective customer bases. The company markets products principally through the use of outside sales representatives and its own internal sales staff, supported by its internal marketing, category management, engineering, creative services, and customer and consumer service staff. Manufacturing and Distribution The company contracts with unaffiliated manufacturers, primarily in China, Mexico and Vietnam, to manufacture a significant portion of its finished goods for the Home & Outdoor segment and its Beauty & Wellness segment's hair appliances and accessories, as well as certain wellness product categories. The personal and hair care category of the Beauty & Wellness segment sources most of its products from U.S. manufacturers. Finished goods manufactured by vendors in Asia consisted approximately 87% of finished goods purchased in fiscal 2023. Customers Sales to the company’s largest customer, Amazon.com Inc., accounted for approximately 17% of its consolidated net sales revenue in fiscal 2023. Sales to the company’s second largest customer, Target Corporation, accounted for approximately 10% in fiscal 2023. Sales to the company’s third largest customer, Walmart, Inc., including its worldwide affiliates, accounted for approximately 10% of its consolidated net sales revenue in fiscal 2023. Sales to the company’s top five customers accounted for approximately 43% of its consolidated net sales revenue in fiscal 2023. Seasonality The company’s sales are seasonal due to different calendar events, holidays and seasonal weather patterns. Historically, the third fiscal quarter (year ended February 28, 2023) produces the highest net sales revenue during the fiscal year. Research and Development The company incurred total research and development expenses of $47.8 million for the year ended February 28, 2023 (fiscal 2023). Competition Home & Outdoor: The company’s competitors include Lifetime Brands, Inc. (KitchenAid), Breville Group, Corning Incorporated (Pyrex), Meyer Corporation (Farberware), Newell Brands Inc., Simple Human LLC, Yeti Holdings, Inc., Bradshaw International (GoodCook), Patagonia, Gregory Mountain Products, Mystery Ranch, CamelBak, The North Face, and Deuter. Beauty & Wellness: The company’s competitors include Conair, Spectrum Brands Holdings Inc. (Remington), Coty Inc., Dyson Ltd, L'Oreal S.A., DevaCurl, Exergen Corporation, Omron Healthcare, Inc., Crane Engineering, Newell Brands, Inc., Lasko Products, LLC, The Clorox Company (Brita), Zero Technologies, LLC, Vornado Air Circulation Systems, Unilever (Blueair), and Guardian Technologies LLC. Environmental and Health and Safety Matters For example, some of the company’s Beauty & Wellness segment’s customers require that its hair appliances comply with various safety certifications, including UL certifications. Similarly, thermometers distributed by the company’s Beauty & Wellness segment must comply with various regulations governing the production and distribution of medical devices. Additionally, some product lines within the company’s Beauty & Wellness segment are subject to product identification, labeling and claim requirements, which are monitored and enforced by regulatory agencies, such as the U.S. Environmental Protection Agency (the EPA), the U.S. Customs and Border Protection, the U.S. Food and Drug Administration, and the U.S. Consumer Product Safety Commission. During fiscal 2022, the company was in discussions with the EPA regarding the compliance of packaging claims on certain of its products in the air and water filtration categories and a limited subset of humidifier products within the Beauty & Wellness segment that are sold in the U.S. History The company was incorporated as Helen of Troy Corporation in Texas in 1968 and reincorporated as Helen of Troy Limited in Bermuda in 1994.