BOCA RATON, Fla., Feb 22 (Reuters) - Newell Rubbermaid Inc is placing bets on $7,500 Parker pens and eco-friendly janitors' buckets as it tries to grow in emerging markets.
Newell is focusing on countries such as Brazil and China after years of trimming costs and improving margins gave it the ability to even think about putting such a growth plan into place. The ideas discussed on Wednesday by President and Chief Executive Michael Polk mark a transformation at Newell, best known by many for its Rubbermaid storage containers.
"We had great brands but we weren't really unlocking their full potential," said Polk, who became CEO in July after serving on Newell's board for two years. "The more I dig, the more convinced I am that we have a lot of opportunity to grow."
Areas where Newell wants to "win bigger" include a variety of items from pens to janitors' mop buckets.
Meanwhile, workers who want to celebrate their success can do so with a fancy pen, such as the Parker Duofold Golden Dragon which sells for about $7,500 in China.
"Parker is on fire" in countries such as China, Polk said
Full article at http://www.reuters.c...E8DMCHR20120222
Edited by welch, 24 April 2012 - 16:28.