In Their Own Words: Joe Roberts, President, Core Brands
On marketing support for
Core Brands products:
We’re continuing to support our dealers. One thing we’ve heard from them is, “give us support on the pricing out in the field.” So we have signed an agreement with Vision Werks for a UMAP (universal minimal advertised pricing) policy to improve margins to our dealers. We’ve started discussing this with our dealers and distributors, and it’s being rolled out throughout 2015 so we can fully protect our brand in the market.
On synergies with Nortek
Security & Control:
In the last year, our organizational changes have ended in a very positive place. Those changes always add some level of uncertainty for folks both inside and outside the company, but where we’ve ended is absolutely fantastic. We are reporting in to the CEO just like the other groups are—no middle layer. And we’re now finding that we’re working organically together. At CES, Bill stood in the Nortek booth for 75 hours, and we’re absolutely working together with the Nortek Security & Control team. We’re co-developing product, leveraging cross brands. We’re not being told, “You have to do this.” It just makes sense.
We certainly have all the entertainment, audio and control expertise. The Nortek team has all of the Z-Wave and sensor expertise, and Broan and NuTone have their expertise. We’re taking each’s expertise and customer relationships and looking at how we can grow this business. And [Nortek President and CEO] Michael Clarke is encouraging it. We have been down to the Nortek Security & Control office and they come here, and we’re working really closely. We’re sharing people and working together. In 2015, we’ll see a bunch of new products come out that show a tighter connection among the groups.
On expanding into new
We want to be true to ourselves and our customers. And we’re continually looking at the categories we are in right now. We will continue to grow from there, for sure. Core Brands is a significant company and our individual brands are significant in their own right. We are continuing to develop categories, but not looking to enter into something outside our wheelhouse. Our business is so centered on what our customers are asking for. There are some adjacencies we’ll talk about later this year—extensions to what we’re already doing. But we’re not rolling out any new brands. TI