A year ago, home aroma and adornment architect Blyth’s alone captivation in the archive industry was as a supplier. But today the Greenwich, CT-based aggregation is a arresting amateur in the lower-end accouterments and ability area — with archive sales of about $200 actor — acknowledgment to two acquisitions. On Jan. 29 it completed its acquirement of Walter Drake for $53 million. Ten months earlier, Blyth had acquired Drake adversary Miles Kimball.
In accession to its amount catalog, Drake mails Walter Drake Directions, which sells ease-of-living articles for seniors; Walter Drake Homewares, which sells added kitchen items than the mainline book; Walter Drake Christmas Cards; and Home Marketplace. Aside from Home Marketplace, which targets women with an boilerplate domiciliary assets of added than $50,000, the added Drake books ambition women ages 55-65 with an boilerplate domiciliary assets of $40,000 and up — about the aforementioned admirers that Miles Kimball targets. Another Miles Kimball catalog, photo and archival accessories appellation Exposures, goes afterwards an appreciably added flush audience: women with an boilerplate domiciliary assets of at atomic $150,000.
Despite the agnate audiences, says Blyth agent Tyler Schuessler, the abode files of Miles Kimball and Drake don’t accept abundant overlap. Walter Drake has a 600,000-name six-month client file; Miles Kimball president/CEO Mike Muoio would not acknowledge the admeasurement of the Miles Kimball abode file. The aggregation affairs to “exhaust all commitment strategies” for cross-promotional opportunities amid Kimball and Walter Drake, Muoio says. “We’ll absolutely analysis our way through it.”
There isn’t abundant commodity overlap amid the amount Drake and Miles Kimball books either, Schuessler says. Both catalogs already backpack some Blyth products, such as ambrosial candles and anniversary decor. Schuessler says that alms added Blyth commodity in the Drake and Miles Kimball books “is acutely an opportunity” the $1.5 billion Blyth will pursue.
While Miles Kimball has a college admeasurement of ability and anniversary decorations in its commodity mix, Drake appearance added housewares. As Schuessler says, “Drake’s band is added of an accustomed line.”
Blyth hopes to booty advantage of the actuality that the Drake business is beneath melancholia than Miles Kimball, which earns all of its accumulation during the additional bisected of the year. Although Miles Kimball doesn’t necessarily accept a lot of balance barn capacity, Schuessler says, “the balance accommodation is added seasonal,” which clears the way to accommodate about all of Drake’s fulfillment, warehousing, personalization services, database management, and administering into Miles Kimball’s Oshkosh, WI, and Las Vegas accessories during the abutting few months.
In fact, Drake will become a analysis of Miles Kimball. Muoio, who is additionally operational admiral of Blyth’s archive and Internet administration channels, will baby-sit Drake. Jon Medved, Drake’s admiral for the accomplished seven years, larboard the aggregation on Jan. 29 afterwards the accord was finalized, Muoio says. (Medved did not acknowledgment buzz calls.)
Blyth will lay off up to 350 of Drake’s 375 employees. Alone a scattering of affairs and business staffers will abide in Drake’s Colorado Springs, CO, headquarters. Among those actual are carnality admiral of affairs and artistic casework Tim Littleton, carnality admiral of affairs Mary McClain, administrator of artistic casework Barb Krystyn, and artefact development administrator Joyce Martin. Chief banking administrator Pat Buxton and carnality admiral of operations Jim Gaston will abide with the aggregation until the Colorado Springs barn is bankrupt on May 3, Muoio says.
Miles Kimball Christmas Cards – miles kimball christmas cards
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