Lifetime Brands history

By staying away from such risky gimmicks and especially through relentless marketing, Cohen, Siegel, and a third partner increased sales by 1980 to $13 million.

In 1987 Lifetime Hoan moved its manufacturing operation to Dayton, New Jersey, maintaining its headquarters in Brooklyn.

The company made its first move up the scale in early 1990 when it entered into a license agreement with Farberware, Inc. to market cutlery, kitchen gadgets, and barbecue accessories under the well-known and respected Farberware name.

In June 1991 Lifetime Hoan sold 40 percent of the company to the public in an initial public offering (IPO) that raised $19.4 million.

Launched in mid-1992, the line eventually included items such as nonstick cookie sheets and pie pans, spatulas, whisks, and cookie cutters featuring the Pillsbury Doughboy logo, as well as accessories such as peelers, can openers, kitchen hooks, and steamers incorporating the Green Giant character.

The company launched a new brand, Smart Choice, in 1993.

Lifetime Hoan moved its headquarters to Westbury, New York (on Long Island), in October 1994.

In April 1996 Lifetime Hoan joined with Syratech Corporation, an East Boston-based maker of tabletop and giftware products, to acquire most of the assets of Farberware for a total of about $52 million, $12.7 million of which was paid by Lifetime in cash.

In the meantime, in October 1997, Lifetime Hoan announced that it had initiated payment of cash dividends on its stock, starting with the third quarter of 1997, a move reflecting a company confident of its long-term prospects.

In late 1998 Lifetime achieved similar aims through the signing of a license agreement with Corning Consumer Products Company for the design and marketing of cutlery and cutting boards under the well-known Revere brand.

The first products from this line were introduced in early 1999.

Finally, in December 2000 Siegel assumed the additional title of CEO. He was named chairman as well six months later, taking over for the retiring Cohen.

The millions spent on the new warehouse and its critical systems paid off as net income reached $8.4 million in 2003 on record revenues of $160.4 million.