Top Companies Report

30. Blyth, Inc.

July 10, 2013

Greenwich, CT
203.661.1926
www.blyth.com

Sales: $417 million for candles and home décor products. Corporate sales: $1.2 billion. Net income: $44 million.

Key Personnel: Robert B. Goergen, chairman and chief executive officer; Robert H. Barghaus, vice president and chief financial officer; Robert B. Goergen Jr., president and chief operating officer, Blyth and president, PartyLite Worldwide.

Major Products: Home fragrance—PartyLite, Easy Comforts, Colonial Candle. Personal care—As We Change, Easy Comforts, ViSalus Sciences, Walter Drake.

Comments: Corporate sales jumped more than 30% due to the strength of ViSalus, the company’s wellness brand. However, candle and home décor sales fell 16% to $417 million. Since its acquisition of ViSalus five years ago, Blyth’s reliance on candle sales has flickered. In 2011, ViSalus represented 26% of corporate sales. Last year, that percentage soared to 53%. Blyth now owns 80% of ViSalus.

The decline in candle sales was blamed on weakness in Europe, where sales fell 16% due to lower sales in Germany, France and the UK. PartyLite’s US sales fell 19% due to a decline in active independent consultants.

Last year, Blyth sold its Sterno business. The move puts the focus strictly on direct selling and direct market channels of distribution.
For the first quarter ended March 31, 2013, candle and home décor sales fell nearly 10% to just under $91 million. PartyLite’s US sales fell 21% due to a decline in active independent consultants. PartyLite’s European sales fell 3%.

Corporate sales fell 14% to $233 million.

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