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Founded in San Diego, California U.S.A. in 1953, WD-40 Company is a publicly traded, global sales and marketing company. The blue and yellow can with the little red top and yellow “shield” carries with it positive brand equity – the brand is memorable, easily recognizable and known for its superiority in quality and reliability to end users across 62 unique channels of trade in more than 176 countries. Our maintenance products currently make up ~90% of net sales and homecare and cleaning products ~10%. WD-40 Company’s corporate headquarters and Corporate Brand Support Center are located in San Diego. Our ~500 highly engaged tribe members in our 15 offices throughout the world are caretakers of our brands and innovators of our future. Our “Why”: We exist to create positive lasting memories in everything we do. We solve problems. We make things work smoothly. We create opportunities. Our “How” We create positive lasting memories by cultivating a tribal culture of learning and teaching which produces a highly engaged workforce who live our company’s values every day. Our “What” Our mission is to deliver unique, high value and easy-to-use solutions for a wide variety of maintenance needs in workshops, factories and homes. We market and distribute our brands across multiple trade channels in countries all over the world.
Consolidated net sales increased 4%. By category, WD-40’s maintenance products sales rose 4% to $503.5 million. The company’s smaller home care and cleaning unit recorded sales of $33.7 million, a gain of 1%.
The Americas represented 50% of WD-40’s global sales last year, and recorded an 11% YOY gain. In Asia (accounting for 14% of sales), revenues rose 8%. However, the EMEA market (36% of sales), proved more challenging. Sales fell 7%.
The company recently acquired its Brazilian marketing distributor and long-time partner, Theron. The transaction brings together Theron’s established workforce, customer base and distribution logistics with WD-40’s “best-in-class marketing and brand building capabilities,” according to WD-40.
In May, WD-40 Company and Repair Café International Foundation, a non-profit organization, linked up to raise awareness around the economic and environmental benefits of repairing over replacing. “Repair Cafés” are free meeting places where people can find tools, materials and volunteers to help them fix and repair almost anything—clothes, furniture, appliances, toys, etc., to keep them out of landfills.
San Diego, CA www.wd40.com Sales: $488 million
Key Personnel: Garry Ridge, chairman and CEO (until Aug. 31, 2022); Steve Brass, president, COO and board member (until Aug. 31, 2022); Alice Fournier, VP-global digital development and chief digital officer; Meghan Lieb, PhD, VP-global R&D
Major Products: Maintenance and home care and cleaning products sold under brand names that include WD-40, 3-in-One, X-14, 2000 Flushes, Carpet Fresh, No Vac, Spot Shot, 1001, Lava and Solvol
Comments: For the full fiscal year 2021 ended Aug. 31, 2021, WD-40 revenues rose 19% to $488.1 million. Maintenance product sales rose 21% and home cleaning product sales (just $39 million for year) posted a 1% gain, although sales in the Americas (its largest market), fell by 7%. The decline in home care was driven primarily by a falling sales of Lava, X-14 and Spot Shot, which were tempered by increased sales of products in the toilet brand 2000 Flushes.
WD-40 said it experienced a significant increase in sales for most of its home care and cleaning products during the second half of fiscal year 2020 due to increased demand for such products as a result of the pandemic, but in the second half of fiscal year 2021, demand for certain products began to return to more normal levels. Additionally, WD-40 said home care and cleaning products in the Americas were also negatively impacted during the fiscal year ended Aug. 31, 2021 by the challenges in its Americas supply chain and the discontinuation of certain products within these brands.
Steve Brass has been tapped to lead WD-40, replacing Chairman and CEO Garry Ridge who will retire. Brass joined WD-40 in 1991 and risen through the ranks, holding various management positions including European commercial director, division president, Americas and chief brand officer. He was named president and COO in 2019.
San Diego, CA www.wd40.com Sales $423 million
Key personnel: Garry Ridge, chairman and chief executive officer; Steve Brass, president and chief operating officer; Rich Clampitt, vice president, general counsel and corporate secretary; Geoff Holdsworth, managing director, Asia-Pacific; Bill Noble, managing director, EMEA; Patricia Olsem, division president, Americas; Jay Rembolt, vice president, finance, treasurer and chief financial officer; Stan Sewitch, vice president, global organization development
Major products: Maintenance products as well as cleaning products including WD-40, X-14, 2000 Flushes, Carpet Fresh, No Vac, Spot Shot, Lava and Solvol
Comments: WD-40 Company’s sales for its most recent fiscal year rose 4% to $423 million. The company bills itself as a firm that “solves problems in workshops, factories and homes around the world” with maintenance and homecare and cleaning products that fall under several well-known brands such as WD-40, X-14, 2000 Flushes, Carpet Fresh, No Vac, Spot Shot, 1001, Lava and Solvol. The firm also markets products that fall outside of Happi’s scope—like 3-1-One and GT85, which are lubricants, as well as those under the WD-40 Specialist banner, like engine degreaser.
According to CEO Garry Ridge, WD-40’s maintenance products delivered solid sales increases, including 4% growth of WD-40 Multi-Use Product. More impressive was the 13% growth reported for WD-40 Specialist, which saw sales top $35 million. The line is sold primarily in the US and many countries in Europe, as well as parts of Canada, Latin America, Australia and Asia. In addition, the company markets WD-40 Specialist Motorbike in Europe, WD-40 Specialist Lawn and Garden in Australia, and WD-40 Specialist Automotive in Asia.
The company’s home care and cleaning products operations—home to products like Lava soap and 2000 Flushes—recorded a 2% gain with sales of $36.7 million. While sales in the Americas segment dropped 11%, this segment recorded a 60% increase in EMEA. Sales of 1001 Carpet Fresh were up $3.6 million in this region, driven by the favorable impacts of digital marketing associated with this brand, according to WD-40.
For the six months ended February 29, sales declined 2% to $198.6 million.
In June, Graciela I. Monteagudo was appointed to the WD-40 board of directors. She most recently served as president and CEO of Lala U.S., Inc. and has held key executive positions at Walmart Mexico and Procter & Gamble.
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