Fortune Brands: A Diverse Company

Paper Summary:

This paper takes an in-depth look at the Fortune Brands conglomerate, and how products that are seemingly unrelated, are actually manufactured and marketed successfully by the same company. This paper also discusses the various Fortune Brand products and how strategic business practices have made the Fortune Brand such a successful enterprise.

Table of Contents:
Fortune Brands' Business Makeup
Fortune's Product Offering
Fortune's Hardware Brand
Fortune's Wines and Spirits Brand
Fortune's Golf Equipment Brand
Fortune's Performance over the Last Three to Five Years
Executive Summary

From the Paper:

"What do golf clubs, bathroom or kitchen faucets, cabinetry and other home building supplies, and a bottle of Maker's Mark Kentucky Bourbon have in common? On the surface, not much, but when one digs a little deeper, he or she will find that while these companies appear to be singular entities, they are in fact owned and operated by one conglomerate in Fortune Brands (trading under the stock symbol FO on the NYSE). Fortune Brands has banked on its acquisitions of this diversity across the board and is continuing this strategy of buying out brands that are leading their prospective categories in sales and customer loyalty. As Caminiti states, "Fortune's playbook contains only a few rules: Invest to grow strong consumer brands that hold either the number one or the number two position in their category; use cutting-edge technology to add innovation; leverage rigorous market research to stay in touch with customers; and finally, make acquisitions that add true value and not just heft to a category."

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