Tag: See’s Candies

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Berkshire Hathaway’s See’s Candies is recording record sales, See’s CEO Pat Egan said at the 2022 Berkshire Hathaway annual meeting.

Egan credits much of the company’s growth to its ecommerce, which has doubled in the past few years. The company shipped 2 million packages in 2021.

While Berkshire doesn’t breakout See’s revenues in its annual report, the candy maker reportedly had gross revenues in excess of $400 million with $80 million in net profits.

See’s has long been a regional brand with its over 200 brick and mortar locations mostly in the western half of the U.S. , although it opened a shop in Manhattan in 2017, and now has overseas locations in the UAE, Hong Kong, Metro Manila, Central Singapore, and Taipei City.

© 2022 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Berkshire Hathaway’s candy purveyor, See’s Candies, has resumed production. The company had ceased production in mid-March, and Warren Buffett had noted at the Berkshire Hathaway annual meeting that the company had been stuck with a mountain of Easter candy that would go unsold.

In addressing the resumption, Pat Egan, CEO & president of See’s said in a statement:

“Quality Without Compromise” is our longstanding motto, and that stands true now more than ever. See’s has always believed in delivering the freshest, most delicious candy possible, in the best way we know how. Because we make pretty much everything we sell, we have two really important workplaces to get right—our manufacturing and packing facilities and our retail shops. Because we won’t cut corners, and because our employees are like family, we meticulously worked through every step in the process to make sure we’re safe before we’ll reinitiate production or open shops.

We are excited to share that we have recently reopened our San Francisco and Los Angeles candy kitchens. While this means we are now able to safely make our candies, you can almost say we are starting from scratch. Your tried and true favorites may not be available immediately, but the recipes and care we put in to making every piece is exactly the same. Please don’t despair… while these adjustments are necessary as we slowly reopen, we have not discontinued any items. We may not have everything in stock, but this is a great time to try a new flavor and explore our assortment. (Trust us, they’re all great!)”

See’s is now offering contact-free pick up in addition to online orders.

© 2020 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Everyone knows that candy gives you energy. Apparently, it literally works that way at the highest levels of confectioner See’s Candies, as the company has picked an electric utility executive to energize sales as its new CEO.

Berkshire Hathaway’s See’s Candies has announced that CEO Brad Kinstler will be retiring in the Spring of 2019, and has selected Pat Egan, currently Sr. Vice President of NV Energy, another Berkshire Hathaway company, as his successor.

Mr. Egan will begin his involvement with See’s on November 12, 2018, working with Mr. Kinstler to transition into the role of President and CEO.

Mr. Kinstler has been President and CEO of See’s since January 2006, and will retire the end of April 2019, having worked in various roles with Berkshire Hathaway for 32 years.

Mr. Egan becomes only the third CEO of See’s since it was acquired by Berkshire Hathaway in 1972.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Yes Lifecycle Marketing has announced that Berkshire Hathaway’s See’s Candies, one of the most trusted and timeless candy makers in the world, has extended its partnership with the vendor through 2021 and will continue to use its expert strategy, email creative and analytics services as well as its robust multichannel execution capabilities supported by best-of-breed database marketing solution Marketzone and multichannel marketing communications platform Yesmail360.

See’s Candies first partnered with Yes Lifecycle Marketing more than 10 years ago for data processing before expanding the scope of the relationship and transitioning its database to Yes Lifecycle Marketing’s Marketzone product. Along the way See’s Candies adopted Yesmail360 for its cross-channel orchestration and deployment capabilities and enlisted the vendor’s strategy, email creative and analytics services to help develop an end-to-end lifecycle marketing program that delights and engages subscribers. Since transitioning and implementing a cohesive lifecycle program, See’s Candies has seen 117 percent overall database growth.

“Yes Lifecycle Marketing is one of our longest serving and most trusted marketing partners,” said Jensen DeWees, Marketing Director, See’s Candies. “From direct mail campaigns to audience profiles and email marketing, our team at Yes Lifecycle Marketing has enhanced our direct marketing program and has played a pivotal role in the evolution of our customer engagement strategies while never losing sight of the values that define our historic brand.”

As the partnership expanded, Yes Lifecycle Marketing’s creative and strategic teams enhanced the email program to better segment, target, and engage subscribers with updated creative and relevant content consistent with the See’s Candies iconic brand.

Relying on Yes Lifecycle Marketing’s advanced targeting, segmentation and dynamic content capabilities, See’s Candies plans to deliver even more personalized messaging to its audience going forward.

“We are honored that See’s Candies has chosen to extend our partnership as it continues to cultivate a sophisticated, multichannel marketing program that engages their audience along each step of their lifecycle,” said Sumit Bhalla, Senior Vice President of client services at Yes Lifecycle Marketing. “With the help of our agency services teams, See’s Candies has developed a data-driven strategy for identifying, targeting and engaging its core customer segments across channels.”

“To build and maintain a powerful brand, savvy marketers know that they need to build and maintain a strong relationship with a technology partner that can scale in order to meet their evolving needs and goals,” said Jim Sturm, President at Yes Lifecycle Marketing. “Our robust technology solutions and experienced services teams enable marketers to meet the ever-changing consumer expectations and deliver meaningful experiences across channels.”

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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See’s Candies lovers in New York City now have a permanent retail location to call their own.

The store is located at 60 West 8th Street in New York City’s Greenwich Village neighborhood, and serves more than 100 varieties of candy—all made from scratch with quality ingredients.

This is the first See’s location on the East Coast with a candy counter, which allows guests to build their own custom boxes of chocolates. And yes, the 625-square-foot shop features the iconic black-and-white checkered floor.

See’s partnered with Bill Rhodes, CEO of Travis Melbren Inc., to open its newest shop.

“What makes See’s Candies so special is the chocolate maker’s commitment to using only the finest and freshest ingredients, where employees are treated like family and customers are warmly greeted with a sample,” said Bill Rhodes. “I’m looking forward to providing this experience and iconic tradition to the residents of New York City.”

As a company, See’s Candies has over $400 million in annual revenues with just under a quarter of that as profit.

A Slow Move East

Currently there are more than 200 company-owned See’s Candies shops in the western half of the U.S., and limited distribution in department stores, along with a handful internationally in Hong Kong, Macau, Taipei, and Tokyo, and additional pop-up stores for the holidays all across the country.

However, until recently, you couldn’t find a full-fledged store east of the Mississippi River. That began to change in 2013 with See’s opening stores in Ohio (in Cincinnati and Columbus) and two stores in Pittsburgh, Pennsylvania.

No word yet as to whether the new Manhattan store will mean we will find See’s Candies outlets sweetening up places like Boston, Philadelphia or Washington, DC.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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One thing every See’s Candies lover knows is that it’s iconic black-and-white checkered floor candy shops are ubiquitous in California, and nowhere to be found on the East Coast. That’s why travelers have long brought boxes of See’s chocolates back home with them from their trips west.

Well fear no more, as See’s has announced that it will be opening its first East Coast retail store. The store will be located at 60 West 8th Street in New York City’s Greenwich Village neighborhood, and will serve more than 100 varieties of candy—all made from scratch with quality ingredients.

This will be the first See’s location on the East Coast with a candy counter, which allows guests to build their own custom boxes of chocolates. And yes, the 625-square-foot shop will feature the iconic black-and-white checkered floor.

See’s has partnered with Bill Rhodes, CEO of Travis Melbren Inc., to open its newest shop in Manhattan in the fall of 2016.

“Hand picking treats at the candy counter has always been one of the most memorable parts about going to a See’s shop, and I’m thrilled to be able to introduce one of my favorite traditions to the residents of New York,” said Bill Rhodes, CEO of Travis Melbren Inc.

Almost a Century of Chocolate Delights

Founded in 1921 by the See’s family, See’s is headquartered in sunny California, and has over 200 retail shops across the country and an online shop that serves See’s fans around the world. See’s was acquired by Berkshire Hathaway in 1972.

No opening date for the Manhattan store has been announced.

© 2016 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Acquired by Berkshire Hathaway in 1972 for only $25 million, See’s Candies today has over $400 million in annual revenues with just under a quarter of that as profit. That means it annually produces four times its acquisition cost in profit.

How can those profits continue to grow? The solution looks more and more to be to add stores in states where shoppers don’t currently have access to the joys of a See’s Candies chocolate lollipop. At least they can’t buy them year-round.

Currently there are more than 200 company-owned See’s Candies shops in the western half of the U.S., and limited distribution in department stores, along with a handful internationally in Hong Kong, Macau, Taipei, and Tokyo, and additional pop-up stores for the holidays all across the country. However, until recently, you couldn’t find a full-fledged store east of the Mississippi River. That began to change in 2013 with See’s opening stores in Ohio (in Cincinnati and Columbus) and two stores in Pittsburgh, Pennsylvania.

Now, the company is hinting that it is looking harder at the Eastern seaboard.

“We need to develop the markets and taste buds,” See’s Candies President and CEO Brad Kinstler said during a recent appearance at Stanford University’s Rock Center for Corporate Governance.

In 2013, Berkshire auctioned off an all-you-can-eat tour of the See’s Candy factory in California to benefit an education nonprofit. Who knows? Perhaps by 2016 that will be possible on the East Coast too. Have your sweet tooth at the ready.

© 2014 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.