Lifetime Brands has a strong culture of innovation

Lifetime Brands has a strong culture of innovation. It generated two-thirds of its revenues from new products launched in the past three years. It launched 3,500 new or redesigned products in 2013, and its 2014 target is more than 4,000 such new innovations. Examples include Savora, a premium line of food preparation tools and gadgets, and a Guy Fieri-branded line of kitchenware. Guy Fieri is a star chef on Food Network's shows and his celebrity status will drive the sales of the new product line.Helen of Troy NASDAQ: HELE , a distributor of housewares and personal care products, is similarly mitted to product innovation. Helen of Troy's housewares brand OXO has always designed products with customer ease of use in mind. For example, its OXO measuring cup es with a capacity-adjustment knob mechanism and a built-in plunger to ensure easy and correct measurements of ingredients.

Helen of Troy's product pipeline remains healthy, with 300 new innovations expected to be launched in 2014, pared with 293 in 2013. The focus of 2014 will be water bottles, baking and food storage, and toddler and infant products in the housewares segment.Most panies are either monopolies in low or zero growth markets or operate in high-growth markets with intense petition. Lifetime Brands seems to enjoy the best of both worlds, owning leading market positions in its domestic market with potential for market-share expansion and growth from new markets and new products.Boost your 2014 returns with The Motley Fool's top stock There's a huge difference between a good stock and a stock that can make you rich. The Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it's one of those stocks that could make you rich. You can find out which stock it is in the special free report "The Motley Fool's Top Stock for 2014." Just click here to access the report and find out the name of this under-the-radar pany.The Next Industry to Crumble...
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