Yankee Candle

Last updated

The Yankee Candle Company, Inc.
Type Subsidiary
Industry Consumer products
Founded1969;54 years ago (1969)
FounderMichael Kittredge
Headquarters
South Deerfield, Massachusetts
,
U.S.
Number of locations
267 as of January 2022 [1]
Revenue US$ 844.2 million (2013) [2]
Parent Newell Brands (2015–present)
Website yankeecandle.com

The Yankee Candle Company (referred to simply as Yankee Candle) is an American manufacturer and retailer of scented candles, candleholders, accessories, and dinnerware. Its products are sold by thousands of gift shops nationwide, through catalogs, and online, and in nearly 50 countries around the world. The company operates just over 260 small-box format stores, [1] located in malls across 43 U.S. states [3] and Ontario, and is the largest candle manufacturer in the United States. The company is headquartered in South Deerfield, Massachusetts.

Contents

The Jarden Corporation agreed to buy Yankee Candle for $1.75 billion in the fall of 2013. [4] In 2015, Newell Rubbermaid announced that it would acquire Jarden for over $15 billion of cash and stock.

History

The Yankee Candle store in the Newport Center Mall in Jersey City, New Jersey 10.1.07YankeeCandleNewportMallbyLuigiNovi.jpg
The Yankee Candle store in the Newport Center Mall in Jersey City, New Jersey

Yankee Candle Company was started in South Hadley, Massachusetts when Michael Kittredge, originally from Holyoke, Massachusetts, created his first scented candle, Christmas 1969, from melted crayons as a gift for his mother. [5] Neighbors began expressing interest in buying his creations, and Kittredge began producing them in larger quantities. The company itself was founded with help from Donald MacIver and Susan Obremski, who were high school friends with Kittredge.[ citation needed ] MacIver helped fund the start-up business with earnings from his part-time job.[ citation needed ] Candle production grew considerably after Obremski's father devised a "heated room", which enabled cost-saving liquid wax deliveries at the first factory site in Holyoke. Obremski's invention of a turntable taper wheel allowed production to double, while at the same time decreasing the need for more labor hours.[ citation needed ] In 1975, she managed the first Yankee Candle Shop located where the Village Commons in South Hadley now stands. [6] [ citation needed ]

The company slowly expanded and moved to South Deerfield in 1983.

After a cancer scare in 1993, Kittredge started handing the company over to a friend and employee. [7] In 1998, he sold the company to New York-based private equity company Forstmann Little for $500 million. [7] Forstmann took the company public in 1999, [8] and in 2001, hired Craig Rydin as a CEO. Rydin launched a major advertising campaign and the line was picked up by mass retailers Linens-N-Things and Bed, Bath and Beyond, pushing sales to their highest levels yet. Kittredge remained the company's chairman emeritus.

Grounds outside the candle making museum Yankee candle shop flagship outside.jpg
Grounds outside the candle making museum

During the summer of 2006, Yankee Candle purchased [9] Illuminations, a Petaluma, California-based, multi-channel retailer of high quality candles and home accessories. Although the two companies were similar, the names were separated, with Illuminations being aimed at a different demographic. [9] [ dead link ] The Illuminations brand and web store were phased out in early 2009.

On February 6, 2007, the company was acquired by the private equity group of Madison Dearborn Partners LLC for approximately $1.6 billion. [10]

The founder, Michael Kittredge, in a return to high quality manufacturing created Kringle Candle, with his son Michael (Mike). [11]

In October 2012 Yankee Candle Europe launched their Consumer Direct website offering their products direct to consumers.

In 2013, Jarden acquired Yankee Candle. A further merger in 2016 saw Jarden purchased by Newell Rubbermaid and combined into the new company Newell Brands. [12]

In 2017 Newell Brands acquired Smith Mountain Industries, makers of the Woodwick brand of candles. Woodwick candles are now a premium brand sold by Yankee Candle. The candles have a wooden wick that crackles when burned, and use a blend of paraffin and soy wax to reduce spatter and residue.

Flagship store

Yankee Candle flagship store in Deerfield, MA Yankee Candle Store Deerfield MA illuminated.jpg
Yankee Candle flagship store in Deerfield, MA

Yankee Candle's flagship store, which opened in 1982, is located in South Deerfield, Massachusetts. It features all available Yankee Candles as well as kitchen and home accessories, New England crafts, gifts and collectibles, a toy shop, picnic grounds and a "Bavarian Christmas Village" filled with decorated Christmas trees and a toy train that runs through to Santa's Workshop, where animated elves and an 'assembly line' for wooden vehicles surround Santa Claus's desk. Visitors can dip their own candles in a specially equipped area, make wax molds of their hands, or create their own unique candle. There is also a candle making museum and a Hillside Pizza cafe on site. The store was a beautiful place for a child to visit, where they could make their own candles, choose their own scents to mix and match.

A second flagship store was opened in Williamsburg, Virginia, in 2005. At 45,000 square feet (4,200 m2), it was a popular tourist destination. [13] The Williamsburg store closed for good in April 2021. [13]

Interior of the Yankee Candle store in the Newport Center Mall in Jersey City, New Jersey 10.1.07YankeeCandleInteriorNewportMallbyLuigiNovi.jpg
Interior of the Yankee Candle store in the Newport Center Mall in Jersey City, New Jersey

Outlet stores

Yankee Candle has a total of 55 outlet stores in the United States. [14]

Products

Yankee Candle Company markets an array of products, including candles of various scents and sizes, scented wax tarts, candle accessories, votive candles (samplers), votive candle holders, tart warmers, jar toppers (for use with the Housewarmer line of candles), reed diffusers, Electric Home Fragrance units (scented wall plug-ins), car scents, room sprays, Good Air products and more. They also periodically release a range of limited edition candles such as 'Chocolate Layer Cake'. [15]

COVID-19

Since the outbreak of the COVID-19 pandemic, social media users observed a correlation between increases in reported COVID-19 cases and negative reviews of Yankee Candle products. Individuals scraping review data of both scented and unscented candles on Amazon.com found an increase in negative reviews for scented candles, with the proportion of reviews complaining of a lack of aroma also growing. In comparison, unscented candles did not exhibit this pattern. [16] [17]

As one of the symptoms of COVID-19 is loss of smell, this suggests that the increase in positive cases is causing more consumers to be unable to smell their scented candles. This correlation has been called the "Yankee Candle Index". [18]

See also

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References

  1. 1 2 "Find a store" (PDF). www.yankeecandle.com. Retrieved September 5, 2021.[ failed verification ]
  2. ↑ Ng, Serena (September 3, 2013). "Yankee Candle Agrees to $1.75 Billion Deal". The Wall Street Journal. Dow Jones & Company, Inc. Retrieved March 25, 2014.
  3. ↑ As of April 2021, the following states do not have a Yankee Candle store: Alaska, Hawaii, Louisiana, Mississippi, Montana, Vermont, and Wyoming.
  4. ↑ Roumeliotis, Greg (September 3, 2013). "Jarden to buy Yankee Candle for $1.75 billion". Reuters. Thomson Reuters. Retrieved March 25, 2014.
  5. ↑ "Historical Timeline". Yankee Candle. Archived from the original on February 13, 2007. Retrieved August 6, 2007.
  6. ↑ "[어바웃 슈퍼리치] 크리스마스 선물에서 시작된 '양키캔들'의 창시자 '마이클 키트 릿지'". 시선뉴스 (in Korean). February 14, 2018. Retrieved May 23, 2019.
  7. 1 2 Whelan, David (January 11, 2004). "Letting Go". Forbes. Archived from the original on October 18, 2004. Retrieved August 6, 2007.
  8. ↑ "Yankee Candle Profile - BostonJobSource.com". bostonjobsource.com.
  9. 1 2 "The Yankee Candle Company, Inc. Agrees to Acquire the Illuminations Brand" (Press release). July 26, 2006. Retrieved December 15, 2018.
  10. ↑ "Yankee Candle and Madison Dearborn Partners Announce Completion of Merger". Archived from the original on July 16, 2012. Retrieved August 6, 2007.
  11. ↑ O'Brien, Tim. "Michael James Kittredge's Journey". inside.kringlecandle.com. Retrieved June 24, 2015.
  12. ↑ Yankee Candle sold for $1.75b to consumer products firm Boston Globe. September 3, 2013. Retrieved December 15, 2018.
  13. 1 2 Schmidt, Ann (March 19, 2021). "Iconic Yankee Candle Village in Williamsburg closing". FOXBusiness. Retrieved July 11, 2021.
  14. ↑ https://www.yankeecandle.com/outlets www.yankeecandle.com/outlets accessed on May 27, 2020
  15. ↑ "Chocolate Layer Cake Candles | Yankee Candle". www.yankeecandle.com. Retrieved February 17, 2016.
  16. ↑ Ingraham, Christopher (December 1, 2020). "What negative candle reviews might say about the coronavirus". Washington Post. Retrieved March 20, 2022.
  17. ↑ Hartmans, Avery (December 27, 2021). "Yankee Candle Reviews Say 'No Smell' Amid Omicron Surge". Business Insider. Retrieved March 20, 2022.
  18. ↑ Rauwerda, Annie (December 23, 2021). "Hmm, angry reviews of candles with 'no scent' are spiking again..." Input Magazine. Retrieved March 20, 2022.
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