Crown Crafts, Inc. operates indirectly through its wholly-owned subsidiaries,
Crown Crafts Infant Products, Inc. (“CCIP”) and Hamco, Inc. (“Hamco”),
in the infant and toddler products segment within the consumer products industry.
The infant and toddler segment consists of infant and toddler bedding and blankets,
bibs, soft bath products, disposable products and accessories. Sales of the
Company’s products are generally made directly to retailers, which are
primarily mass merchants, mid-tier retailers, juvenile specialty stores, value
channel stores, grocery and drug stores, restaurants, internet accounts and
wholesale clubs. The Company’s products are manufactured primarily in
Asia and marketed under a variety of Company-owned trademarks, under trademarks
licensed from others and as private label goods.
The Companys primary focus is on infant, toddler and juvenile products, including
the following:
crib and toddler bedding
blankets and swaddle blankets
nursery and toddler accessories
room décor
reusable and disposable bibs
burp cloths
hooded bath towels and washcloths
reusable and disposable placemats and floor mats
disposable cup labels, toilet seat covers and changing mats
other infant, toddler and juvenile soft goods
The Company believes that its creative team is one of its key strengths. The
Company’s product designs are primarily created internally and are supplemented
by numerous additional sources, including independent artists, decorative fabric
manufacturers and apparel designers. Ideas for product design creations are
drawn from various sources and are reviewed and modified by the design staff
to ensure consistency within the Company’s existing product offerings
and the themes and images associated with such existing products. In order to
respond effectively to changing consumer preferences, the Company’s designers
and stylists attempt to stay abreast of emerging lifestyle trends in color,
fashion and design. When designing products under the Company’s various
licensed brands, the Company’s designers coordinate their efforts with
the licensors’ design teams to provide for a more fluid design approval
process and to effectively incorporate the image of the licensed brand into
the product. The Company’s designs include traditional, contemporary,
textured and whimsical patterns across a broad spectrum of retail price points.
Utilizing state of the art computer technology, the Company continually develops
new designs throughout the year for all of its product groups. This continual
development cycle affords the Company design flexibility, multiple opportunities
to present new products to customers and the ability to provide timely responses
to customer demands and changing market trends. The Company also creates designs
for exclusive sale by certain of its customers under the Company’s brands,
as well as the customers’ private label brands.
The Company is subject to various federal, state and local environmental laws
and regulations, which regulate, among other things, product safety and the
discharge, storage, handling and disposal of a variety of substances and wastes,
and to laws and regulations relating to employee safety and health, principally
the Occupational Safety and Health Administration Act and regulations thereunder.
The Company believes that it currently complies in all material respects with
applicable environmental, health and safety laws and regulations and that future
compliance with such existing laws or regulations will not have a material adverse
effect on its capital expenditures, earnings or competitive position. However,
there is no assurance that such requirements will not become more stringent
in the future or that the Company will not have to incur significant costs to
comply with such requirements.
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