The event and webcast was an update on the company’s 2020 strategy, which is centered on the idea of so-called good growth. That is, “growth that's profitable, sustainable and responsible,” as a press release about the update describes it.
“Our 2020 Strategy continues to deliver strong results for our shareholders,” Clorox chairman and CEO Benno Dorer said in his remarks, adding that “In each of the last three fiscal years, we've consistently delivered sales and earnings growth in an environment where growth is hard to come by.”
Local innovation
At the start of the year, Burt’s Bees launched a line of protein shakes that fall somewhere between functional food and beauty from within.
And now next month the company will launch a full color cosmetics collection, a move that’s been previewed in all the right consumer beauty publications. It’s a product portfolio that “[builds] on the brand's success in lip color and extending its natural proposition into a new category,” according to the release.
“The Burt's Bees team created its natural cosmetics line with the help of leading makeup artists and trend experts,” explains the company. “The development of product formulas and packaging was also guided by the brand's high natural standards and sustainability principles.”
Clorox seems to like growing through these sorts of line extensions. The update lists several across the company’s brand portfolio. “Innovation differentiates our products and brands, which is critical to delivering superior consumer value,” Denise Garner, chief innovation officer at Clorox, says.
“We're building on our momentum with a solid pipeline of new products and enhancing our innovation processes to increase speed to market,” she adds, suggesting that there may be more to come for brands like Burt’s Bees in the coming months and years.
Global expansion
Clorox is being careful with its business ventures abroad. Currently there’s a Go Lean strategy in place, according to the company release. Nonetheless, Clorox “will also invest in select profitable growth opportunities, including driving the Laundry Additives business and continuing to expand the Burt's Bees and RenewLife businesses globally.”
Beauty and personal care may turn out to be big business in the US and beyond for the homecare company. “International continues to play a strategic role in our portfolio,” notes chief operating officer Dawn Willoughby, adding that “With our leading brands, strong capabilities and emphasis on long-term margin improvement, we are optimistic about the future prospects of this business.”