Spectrum Brands Holdings and JD.com to Bring Wide Range of Trusted Consumer Products to Chinese Shoppers
Leading International Brands Including Russell Hobbs, George
Foreman, Remington, Rayovac, FURminator, Tetra, Armor All and Kwikset to
Launch Flagship Stores Through JD.com
MIDDLETON, Wis. & BEIJING–(BUSINESS WIRE)–Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products
company offering an expanding portfolio of leading brands providing
superior value to consumers and customers every day, today announced the
launch of a substantial online sales effort in China on e-commerce giant
JD.com (NASDAQ: JD), China’s largest retailer.
Spectrum Brands will offer a broad range of consumer goods via multiple
flagship stores beginning this month, providing Chinese consumers with
the opportunity to purchase high-quality products for many of its
leading brands in categories including home appliances, personal care,
pet supplies, hardware and home improvement, home and garden, batteries
and auto care.
Flagship stores covering brands such as Remington, Rayovac, George
Foreman, Armor All, STP, Tetra, Dingo, FURminator and Nature’s Miracle
will be launched in the coming weeks as a phase one implementation.
“We are excited to enter into this strategic partnership with JD.com as
it will accelerate Spectrum Brands’ entrance into the world’s largest
e-commerce market,” said Dave Albert, Managing Director of Asia-Pacific
for Spectrum Brands. “Through JD.com’s high-quality, online shopping
platform, we will offer our expanding portfolio of innovative and
trusted products to hundreds of millions of emerging middle-class
consumers in China.”
“We are delighted to be able to offer some of Spectrum Brands’ great
range of products to our more than 258 million active customers in
China,” said Carol Fung, President of JD Fast Moving Consumer Goods.
“Spectrum Brands’ well-known, high-quality products will delight our
customers who are looking to improve their lives and their homes.”
Products from Spectrum Brands’ new flagship stores, as well as hundreds
of thousands of other items available on JD.com, will be delivered to
the homes of customers via JD’s world-class logistics network and same-
or next-day shipping guarantee.
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, a member of the Russell 1000 Index, is a
global and diversified consumer products company and a leading supplier
of consumer batteries, residential locksets, residential builders’
hardware, plumbing, shaving and grooming products, personal care
products, small household appliances, specialty pet supplies, lawn and
garden and home pest control products, personal insect repellents, and
auto care products. Helping to meet the needs of consumers worldwide,
our Company offers a broad portfolio of market-leading, well-known and
widely trusted brands including Rayovac®, VARTA®, Kwikset®, Weiser®,
Baldwin®, National Hardware®, Pfister®, Remington®, George
Foreman®, Black + Decker®, Tetra®, Marineland®, Nature’s Miracle®,
Dingo®, 8-in-1®, FURminator®, IAMS® and Eukanuba® (Europe only),
Healthy-Hide®, Digest-eeze™, Littermaid®, Spectracide®, Cutter®, Repel®,
Hot Shot®, Black Flag®, Liquid Fence®, Armor All®, STP® and A/C PRO®.
Spectrum Brands’ products are sold in approximately 160 countries.
Spectrum Brands Holdings generated net sales of approximately $5.04
billion in fiscal 2016. For more information, visit www.spectrumbrands.com.
About JD.com
JD.com is both the largest e-commerce company in China, and the
largest Chinese retailer, by revenue. The company strives to
offer consumers the best online shopping experience. Through its
user-friendly website, native mobile apps, and WeChat and Mobile QQ
entry points, JD offers consumers a superior shopping experience. The
company has the largest fulfillment infrastructure of any e-commerce
company in China. As of June 30, 2017, JD.com operated 7
fulfillment centers and 335 warehouses covering 2,691 counties and
districts across China, staffed by its own employees. JD.com is a
member of the NASDAQ100 and a Fortune Global 500 company.
Forward-Looking Statements
Certain matters discussed in this news release and other oral and
written statements by representatives of the Company regarding matters
such as the Company’s ability to meet its expectations for its fiscal
2017 (including expectations regarding capital expenditures and its
ability to increase its net sales, free cash flow and adjusted EBITDA)
may be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. We have tried, whenever
possible, to identify these statements by using words like “future,”
“anticipate”, “intend,” “plan,” “estimate,” “believe,” “expect,”
“project,” “forecast,” “could,” “would,” “should,” “will,” “may,” and
similar expressions of future intent or the negative of such terms.
These statements are subject to a number of risks and uncertainties that
could cause results to differ materially from those anticipated as of
the date of this release. Actual results may differ materially as
a result of (1) the impact of our indebtedness on our business,
financial condition and results of operations; (2) the impact of
restrictions in our debt instruments on our ability to operate our
business, finance our capital needs or pursue or expand business
strategies; (3) any failure to comply with financial covenants and other
provisions and restrictions of our debt instruments; (4) the impact of
actions taken by significant stockholders; (5) the impact of expenses
resulting from the implementation of new business strategies,
divestitures or current and proposed restructuring activities; (6) our
inability to successfully integrate and operate new acquisitions at the
level of financial performance anticipated; (7) the unanticipated loss
of key members of senior management; (8) the impact of fluctuations in
commodity prices, costs or availability of raw materials or terms and
conditions available from suppliers, including suppliers’ willingness to
advance credit; (9) interest rate and exchange rate fluctuations; (10)
our ability to utilize our net operating loss carry-forwards to offset
tax liabilities from future taxable income; (11) the loss of,
significant reduction in, or dependence upon, sales to any significant
retail customer(s); (12) competitive promotional activity or spending by
competitors, or price reductions by competitors; (13) the introduction
of new product features or technological developments by competitors
and/or the development of new competitors or competitive brands; (14)
the effects of general economic conditions, including inflation,
recession or fears of a recession, depression or fears of a depression,
labor costs and stock market volatility or changes in trade, monetary or
fiscal policies in the countries where we do business; (15) changes in
consumer spending preferences and demand for our products; (16) our
ability to develop and successfully introduce new products, protect our
intellectual property and avoid infringing the intellectual property of
third parties; (17) our ability to successfully implement, achieve and
sustain manufacturing and distribution cost efficiencies and
improvements, and fully realize anticipated cost savings; (18) the cost
and effect of unanticipated legal, tax or regulatory proceedings or new
laws or regulations (including environmental, public health and consumer
protection regulations); (19) public perception regarding the safety of
products that we manufacture and sell, including the potential for
environmental liabilities, product liability claims, litigation and
other claims related to products manufactured by us and third parties;
(20) the impact of pending or threatened litigation; (21) the impact of
cybersecurity breaches or our actual or perceived failure to protect
company and personal data; (22) changes in accounting policies
applicable to our business; (23) government regulations; (24) the
seasonal nature of sales of certain of our products; (25) the effects of
climate change and unusual weather activity; and (26) the effects of
political or economic conditions, terrorist attacks, acts of war or
other unrest in international markets, including those discussed herein
and those set forth in the combined securities filing of Spectrum Brands
Holdings, Inc. and SB/RH Holdings, LLC, including their most recently
filed Annual Report on Form 10-K or Quarterly Report on Form 10-Q.
Spectrum Brands Holdings also cautions the reader that its estimates
of trends, market share, retail consumption of its products and reasons
for changes in such consumption are based solely on limited data
available to Spectrum Brands Holdings and management’s reasonable
assumptions about market conditions, and consequently may be inaccurate,
or may not reflect significant segments of the retail market. Spectrum
Brands Holdings also cautions the reader that undue reliance should not
be placed on any forward-looking statements, which speak only as of the
date of this release. Spectrum Brands Holdings undertakes no duty
or responsibility to update any of these forward-looking statements to
reflect events or circumstances after the date of this report or to
reflect actual outcomes.
Contacts
Spectrum Brands Holdings, Inc.
Investor/Media Contact:
Dave
Prichard
608-278-6141
