EVENT DETAILS:
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We are hosting a Consumer Staples Black Book on today, July 19th. JS Global (HK:1691) has announced plans to spin off 100% of SharkNinja, a household products company based in the U.S. & EU. JS Global shareholders will receive one share of Shark Ninja for every 25 shares held in the company as of the record date of July 4, 2023. SharkNinja is anticipated to trade under the ticker SN on the New York Stock Exchange by the end of the month. SharkNinja will continue to focus on the North American and European markets while JS Global will remain focused on the SharkNinja APAC region and Joyoung segment. The two companies will continue to cooperate on product development, R&D, engineering, and supply chain management. The company is splitting to enhance growth in both regions, not for balance sheet reasons.
SharkNinja's current CEO & President, Mark Barrocas, has been with the company since 2008 when it predominantly sold vacuum machines. Revenue has grown at a 26% CAGR between 2018 through 2022 to $3.7B. Today, the company operates in 26 markets and has expanded into 27 sub-categories. The Shark brand, which has a focus on household cleaning supplies, operates in 11 total sub-categories and had $2B in sales in 2022. Shark was the number 1 selling vacuum brand in the U.S. for the past four years. The Ninja brand, which has a focus on household kitchen appliances, operates in 16 total sub-categories and had $1.7B in sales in 2022. Ninja was the number 1 small kitchen appliance brand in the U.S. for the past three years. During our presentation, we will outline the company's addressable market and positioning, competitive environment, future opportunities, findings from our model, innovation history, and much more.
The key conclusions for our call today:
