LAS VEGAS, Nevada, January 19, 2004
– After fostering the evolution of the Stanley® FatMax®
Line of Hand Tools for five successful years, Stanley has set
aggressive sales goals for its highly innovative and bold line
of FatMax® tools. Launched as a single product in 1999,
the line today has almost 100 SKUs and has had an average annual
growth and development rate near 50% each year. This year will
be no exception, as Stanley will begin to launch several new
2004 FatMax® products at the International Builders ‘Show
including the new Stanley® Micro FatMax® 16’ Tape
Rule, Stanley® FatMax® Professional Tool Box, Stanley®
FatMax® High Tension Hacksaw and the Stanley® FatMax®
Short Blade Chisels.
Introduced in 1999 as a single product, the Stanley®
FatMax® 25’ Tape Rule, the FatMax® family has
established itself as one of Stanley’s most extensive
and innovative product families in the company’s 161-year
history. The FatMax® Line of Hand Tools features core
tools essential for the pro or expert enthusiast who desire
high quality, durable tools. Moreover, Stanley® FatMax®
products are offered in specialty distribution, primarily
the home center and hardware channel.
“The success of the FatMax® line is truly overwhelming
from both a design and engineering and sales perspective,”
said Miguel Nistal, Vice-President, Stanley Hand Tools. “First,
we have applied very high standards for tools with the FatMax®
name and what has been more impressive is how this effort
has followed through at retail.
Professional tool users are responding to FatMax® products
and the product features Stanley has produced for them. As
a result, FatMax® branded product represents 15% of sales
for all Stanley® hand tools and our goal is to reach 25%
by the end of 2005.”
The product development cycle for a tool at Stanley often
begins with the end user and the Stanley® FatMax®
line is no exception. The Stanley Discovery Team interacts
with end users in an environment that is both comfortable
and familiar for them, the job site, to acquire information
about how a professional would make the best tool in the industry.
Stanley takes that knowledge and shares it with designers
and engineers who develop early prototypes and test models.
These models are then tested on job sites with professionals,
modified according to their suggestions and then tested again.
Once the tool meets the needs of the pro, Stanley finalizes
the design and develops the product.
“Without the professional, the FatMax® brand wouldn’t
be what it is today,” explains Nistal. “Their
knowledge is the key design element for every FatMax®
tool and they deserve credit for that just as credit should
also be given to our retail partners who stock the product
for our end users to have access to the entire line. Our retail
partners have also benefited from Stanley® FatMax®
products as we have seen average unit selling prices rise
from $10 to $20 for many products.”
The outlook ahead for Stanley® FatMax® products is
positive as Stanley plans to launch several new FatMax®
products in the first quarter of 2004 while an increased focus
is placed on global expansion and distribution. Today, Stanley
sells the full FatMax® line in Europe, Australia, Canada
and Japan making up 10% of FatMax® sales, but Stanley’s
goal is to increase that figure to 50% by 2006.
|
