Lifetime Brands, Inc. designs, sources, and sells branded kitchenware, tableware and other products used in the home and markets its products under a number of widely-recognized brand names and trademarks, which are either owned or licensed by the company or through retailers’ private labels and their licensed brands.
The company’s products, which are targeted primarily towards consumers purchasing moderately priced kitchenware, tableware and housewares, are sold through virtually every major l...
Lifetime Brands, Inc. designs, sources, and sells branded kitchenware, tableware and other products used in the home and markets its products under a number of widely-recognized brand names and trademarks, which are either owned or licensed by the company or through retailers’ private labels and their licensed brands.
The company’s products, which are targeted primarily towards consumers purchasing moderately priced kitchenware, tableware and housewares, are sold through virtually every major level of trade. The company generally markets several lines within each of its product categories under more than one brand. The company sells its products directly to retailers (who may resell the company’s products through their websites), and to a lesser extent, to distributors. The company also sells a limited selection of its products directly to consumers through its own websites.
The company’s product categories include two categories of products used to prepare, serve and consume foods, Kitchenware (kitchen tools, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks and bakeware) and Tableware (dinnerware, stemware, flatware and giftware); and one category, Home Solutions, which comprises other products used in the home (thermal beverageware, bath scales, weather and outdoor household products, food storage, neoprene travel products and home decor).
The company continually evaluates opportunities to expand the reach of its brands and to invest in other companies, both foreign and domestic, that own or license complementary brands.
The company has a presence in international markets through subsidiaries and affiliate companies that are based outside of the United States. In Europe, the company operates two wholly-owned subsidiaries to sell the company’s products in the United Kingdom (‘U.K.’) and countries within the European Union. The brand development and design teams, administrative teams, and distribution for its international operations operate out of a facility in Aston, England, as well as a third-party distribution facility located in Rotterdam, the Netherlands.
The company also has a subsidiary in the People’s Republic of China (‘China’) to supply the company’s products to the Chinese market and subsidiaries based in Hong Kong, Australia and New Zealand to facilitate the sale of its products to the Asia Pacific region and smaller markets elsewhere in the world. The company has a presence in Canada through a strategic alliance with a Canadian company to distribute many of the company’s products in Canada.
The company sources almost all of its products from suppliers located outside the United States, primarily in China. The company manufactures its sterling silver products at a leased facility in San Germán, Puerto Rico and fills canisters with spices and assembles spice racks at its owned distribution facility in Winchendon, Massachusetts. The company has manufacturing operations in Mexico to manufacture certain of the company’s products.
Business Segments
The company has two reportable operating segments, U.S. and International. The U.S. segment includes the domestic operations of the company’s business that design, market and distribute its products to retailers, distributors and directly to consumers through retail websites. The International segment consists of certain business operations conducted outside the U.S.
Customers
The company’s wholesale customers include mass market merchants, specialty stores, department stores, warehouse clubs, grocery stores, off-price retailers, food service distributors, food and beverage outlets, corporate sales, and e-commerce.
The company’s products are sold globally to a diverse customer base, including mass market merchants (such as Walmart and Target), specialty stores (such as Williams Sonoma and Dunelm), department stores (such as Macy’s, Kohl’s and Belk), warehouse clubs (such as Costco, and BJs), grocery stores (such as Publix, Kroger, Meijer, and Winn-Dixie), off-price retailers (such as TJX Companies and Ross Stores), food service distributors (such as US Foods, Clark Food Service and Jetro), food and beverage outlets (such as Starbucks) and e-commerce (such as Amazon). The company also does business with independent retailers, including through business-to-business websites aimed at independent retailers.
The company also operates its own consumer websites that provide information about the company’s products and offer consumers the opportunity to purchase a limited selection of the company’s products directly.
During the year ended December 31, 2024, Wal-Mart Stores, Inc. (‘Walmart’) accounted for 19% of consolidated net sales. During the year ended December 31, 2024, sales to Costco Wholesale Corporation (‘Costco’) accounted for 11% of consolidated net sales. During the year ended December 31, 2024, Amazon.com Inc., (‘Amazon’), accounted for 13% of consolidated net sales. Sales to Costco and Amazon are included in the company’s U.S. and International segments.
Distribution
The company sells its products directly to retailers, and to a lesser extent, to distributors. The company also sells a limited quantity of its products to individual consumers and smaller retailers through its own websites.
Additionally, the company uses third-party operated distribution facilities to supplement its distribution capacity, including a distribution facility located in Rotterdam, the Netherlands. As of December 31, 2024, the company occupied 27,000 square feet of this facility.
Sales and Marketing
The company’s sales and marketing staff coordinates directly with its wholesale customers to devise marketing strategies and merchandising concepts and to furnish advice on advertising and product promotion. The company has developed many promotional programs for use in the ordinary course of business to promote sales throughout the year.
The company’s sales and marketing efforts are supported from its principal office and showroom in Garden City, New York, as well as showrooms in New York, New York; Medford, Massachusetts; Atlanta, Georgia; Bentonville, Arkansas; Issaquah, Washington; Pawtucket, Rhode Island; Menomonee Falls, Wisconsin; and Aston, England.
The company generally collaborates with its largest wholesale customers and in many instances produces specific versions of the company’s product lines with exclusive designs and/or packaging for them.
Manufacturing
The company contracts with third parties to manufacture the vast majority of its products.
The company manufactures its sterling silver products at a leased manufacturing facility in San Germán, Puerto Rico and fills jars and other containers with spices and assembles spice racks at an owned facility in Winchendon, Massachusetts. The company has manufacturing operations in Mexico to manufacture certain of the company’s products.
Patents
The company owns approximately 1,050 design and utility patents.
The company holds certain rights to use the Farberware brand for kitchen tools, cutlery, cutting boards, shears and certain other products which together represent a material portion of its sales, through a fully-paid, royalty-free license for a term that expires in 2195, subject to earlier termination under certain circumstances. The company also holds a license to use the KitchenAid brand for certain products, including products for kitchen tools, cutlery and bakeware, subject to a license agreement that will expire in December 2026. The company originally entered into a licensing arrangement for use of the KitchenAid brand in 2000, and has renewed the license, typically for three to four year periods, since that time.
Regulatory Matters
The company and its affiliates are subject to significant regulation by various governmental, regulatory and other administrative authorities.
As a manufacturer and distributor of consumer products, the company is subject to the Consumer Products Safety Act in the United States and the Consumer Protection Act in the U.K. Additionally, laws regulating certain consumer products exist in some cities and states, as well as in other countries in which the company or its subsidiaries and affiliates sell products.
The company’s spice filling operation and other certain scale products are regulated by the U.S. Food and Drug Administration.
Seasonality
The company’s business and working capital needs are seasonal with a majority of sales occurring in the third and fourth quarters (year ended December 2024). In 2024, net sales for the third and fourth quarters accounted for 58% of total annual net sales, respectively. In the anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period.
History
Lifetime Brands, Inc. was founded in 1945. The company, a Delaware corporation, was incorporated in 1983.
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