Helen of Troy Limited is a leading global consumer products company that offers a diverse portfolio of trusted brands across Home & Outdoor and Beauty & Wellness segments.

# Helen of Troy Limited - Company Overview

## Corporate Structure and Overview
- **Incorporation**: Originally incorporated as Helen of Troy Corporation in Texas in 1968, reorganized as Helen of Troy Limited in Bermuda in 1994.
- **Industry**: Leading global consumer products company.
- **Headquarters**: 
  - U.S. mailing address: 201 E. Main Street, Suite 300, El Paso, Texas 79901
  - International address: Clarendon House, 2 Church Street, Hamilton, Bermuda
- **Employees**: As of February 28, 2025, the company has **1,883 full-time associates** worldwide.

## Business Segments
Helen of Troy operates through two primary reportable segments:
1. **Home & Outdoor**
   - Product offerings include food preparation and storage tools, cleaning and organization items, insulated beverageware, outdoor performance products, and travel gear.
   - Serves both online and brick-and-mortar retailers, alongside a direct-to-consumer channel.
   
2. **Beauty & Wellness**
   - Provides a range of beauty products such as hair styling appliances, grooming tools, liquid and aerosol personal care items, nail care solutions, and wellness devices (e.g., humidifiers and thermometers).
   - Also primarily sells through online and traditional retail channels and distributors.

## Financial Performance
- **Revenue**: 
  - In fiscal year ending February 28, 2025, total revenue was **$1.9 billion**.
- **Net Income**: 
  - For the same fiscal year, the company reported net income of **$123.8 million**.
- **Earnings per Share (EPS)**: Diluted EPS for fiscal 2025 was **$5.37**.

## Customer Base
- **Top Customers**: The company has significant sales concentration with major retail partners:
  - Sales to its largest customer, Amazon, accounted for approximately **22%** of consolidated net sales revenue in fiscal 2025.
  - Other key customers include Walmart (11%) and Target (11%).
- **Total Number of Customers**: While the exact number of retail partners is not specified, sales are made in **over 100 countries throughout the world**.

## Strategic Initiatives and Operations
- **Acquisitions**: Recent acquisitions include:
  - **Olive & June**: Acquired on December 16, 2024, for approximately **$229.4 million**.
  - **Curlsmith**: Acquired in April 2022.
  
- **Project Pegasus**: Launched as a global restructuring initiative aimed at optimizing operations, expanding margins, and reducing costs, with a target annualized profit improvement of **$75 million to $85 million**.

- **Sustainability Initiatives**: The company has started publishing an annual Sustainability Report outlining its strategies for environmental stewardship and compliance with evolving consumer expectations related to sustainability.

## Inventory and Manufacturing
- **Manufacturing**: Primarily contracts with manufacturers in **China**, **Mexico**, and **Vietnam** to produce its products.
- **Inventory Management**: Focuses on managing slow-moving inventory through regular reviews based on sales trends and forecasts.

## Challenges and Considerations
- The company faces challenges related to international manufacturing, fluctuating commodity prices, trade tariffs, and evolving consumer preferences, which are continuously monitored to mitigate risks to its operations and financial results.

Helen of Troy Limited combines a diverse portfolio of trusted brands with strategic global operations to deliver consumer products that enhance everyday life. The company’s focus on innovation, sustainability, and efficiency enables it to adapt to changes in the retail landscape and consumer demand.

Helen of Troy Limited is a leading global consumer products company specializing in home, outdoor, beauty, and wellness products with a strong focus on innovation and customer satisfaction.

# Company Overview: Helen of Troy Limited

## General Information
- **Incorporation**: Founded as Helen of Troy Corporation in Texas in 1968; reorganized as Helen of Troy Limited in Bermuda in 1994.
- **Industry**: Leading global consumer products company.
- **Employee Count**: As of February 29, 2024, employs 1,927 full-time associates worldwide, with additional temporary, part-time, and seasonal associates as needed.

## Business Segments
Helen of Troy operates through two main business segments:

### 1. Home & Outdoor
- **Product Offerings**:
  - **Home Solutions**: Food storage, cooking utensils, cleaning products, kitchen organization.
  - **Insulated Beverageware, Coolers, and Food Storage**: Insulated bottles, drinkware, lunch containers.
  - **Technical, Outdoor, Travel, and Lifestyle Packs**: Backpacks, luggage, hydration packs, and related accessories.
- **Target Market**: Sales primarily to online and brick-and-mortar retailers, distributors, and direct-to-consumer sales channels.

### 2. Beauty & Wellness
- **Product Offerings**:
  - **Hair Tools and Accessories**: Hair styling appliances, grooming tools.
  - **Hair Liquids**: Prestige shampoos and hair styling products.
  - **Wellness Devices**: Thermometers, humidifiers, air and water purifiers, heaters.
- **Target Market**: Similar distribution channels as the Home & Outdoor segment.

## Revenue and Financial Performance
- **Net Sales Revenue**: 
  - Sales for fiscal 2024 comprised approximately 74% of total net sales from the U.S.
  - Approximately 21% of consolidated net sales came from Amazon.com Inc., the largest customer.
- **Customer Concentration**: Top five customers accounted for about 47% of consolidated net sales revenue in fiscal 2024. Major customers include Amazon, Target (10%), and Walmart (9%).

## Strategic Initiatives and Growth
- **Transformation Strategy Phases**:
  - **Phase I** (Completion in Fiscal 2019): Focused on organic sales growth and operational efficiency.
  - **Phase II** (Fiscal 2020 to Fiscal 2024): Focused on further enhancing Leadership Brands, international expansion, and operational efficiency, resulting in net sales and gross profit margin expansion.
- **Recent Acquisitions**: Acquired brands such as Drybar, Osprey, and Curlsmith to expand the Leadership Brands portfolio and international footprint.

## Operational Highlights
- **Distribution Facilities**: The company operates distribution centers in Southaven and Olive Branch (Mississippi) and Gallaway (Tennessee), which became operational in March 2023.
- **Manufacturing**: Contract manufacturing predominantly occurs overseas, primarily in China, Vietnam, and Mexico, supplying approximately 79% of finished goods purchased in fiscal 2024.
- **Seasonality**: Sales vary by season; the highest revenue is typically generated during the third fiscal quarter.

## Research and Development
- Focused on product innovation and consumer insights, with a commitment to delivering new, differentiated products designed to drive sustainable growth.

## Environmental, Social, and Governance (ESG) Initiatives
- Commitment to corporate governance, diversity, equity, and inclusion (DEI), and sustainable business practices. The company has published an ESG report summarizing its strategy and performance, contributing to transparency in its efforts.

## Conclusion
Helen of Troy Limited operates as a diversified consumer products company with a commitment to innovation, customer satisfaction, and strategic growth. The company enjoys strong relationships with leading retailers, enabling it to maintain significant market presence across both home and beauty sectors while contributing to its operational successes and profitability.

HELEN OF TROY LTD

10-K / April 24, 2025

10-K / April 24, 2024

10-K / April 24, 2025

Helen of Troy Limited - Company Overview

Corporate Structure and Overview

Business Segments

Financial Performance

Customer Base

Strategic Initiatives and Operations

Inventory and Manufacturing

Challenges and Considerations