To compete with Gillette, which was solidly entrenched as the market leader, BIC again turned to creative television advertising. Productfron.com earns from qualifying purchases. In the 1950s, however, with the growing popularity of ballpoint pens, the company had begun to falter. Many product liability suits were filed against BIC Corporation alleging that its lighters caused personal injury. According to the company, BIC invests heavily in employee training and technology. ." The company was a Wall Street favorite. the companys sales. During this time ballpoint pens, although still very expensive, were becoming popular in Europe, and the first ballpoint pens were introduced in the United States, selling for $12.50 each at New Yorks Gimbels Department Store. Attorneys for the children argued that the lighter should have been more child resistant; BIC argued that the children should have been better supervised. BIC Velocity Max Pencil, 0.7 mm, HB (#2), Black Lead, Assorted Barrel Colors, 5/Pack, BIC Velocity Max Pencil, 0.5 mm, HB (#2), Black Lead, Gray Barrel, 2/Pack, BIC Velocity Max Pencil, 0.7 mm, HB (#2.5), Black Lead, Assorted Barrel Colors, 2/Pack, BIC Velocity Max Pencil, 0.5 mm, HB (#2), Black Lead, Assorted Barrel Colors, 5/Pack, BIC Velocity Side Clic Pencil, 0.7 mm, HB (#2), Black Lead, Assorted Barrel Colors, Dozen, BIC Velocity Max Pencil, 0.9 mm, HB (#2), Black Lead, Assorted Barrel Colors, 2/Pack, BIC Velocity Side Clic Pencil, 0.5 mm, HB (#2), Black Lead, Assorted Barrel Colors, Dozen, BIC Atlantis Stick Ballpoint Pen, Medium 1mm, Black Ink/Barrel, Dozen (VSG11BK), BIC Antimicrobial Mechanical Pencils (MPCMAP4), BIC Brite Liner Retractable Highlighters (BLR11YWDZ), BIC VCGN11BK Atlantis Exact Retractable Ballpoint Pen, BIC VCGUP11BK Atlantis Ultra Comfort Retractable Ballpoint Pen. Are the Talents Transferable? Forbes, April 1, 1974, p. 62. The company was renamed the Waterman-BIC Pen Corporation, and its headquarters was moved to Milford, Connecticut. ." cost more to make and sold for less than the companys replacement blades. Retrieved July 28, 2022 from Encyclopedia.com: https://www.encyclopedia.com/economics/economics-magazines/bic-corporation. BIC planned to continue to market the Sheaffer pens under the Sheaffer name. 1001 Trout Brook Crossing In one of those, however, a jury in Creek County, Oklahoma, found BIC responsible for injuries to three children severely burned while playing with a lighter, awarding Bichs U.S. managers urged him to make a more expensive ballpoint to compete with PaperMate, but Bich resisted. This action set off a fierce price war with Gillette. International Directory of Company Histories. Company Profiles for Students. As of 1996, the company did not operate in Europe or Asiamarkets being served by parent company Societe Bic. from these websites, some were sent by our visitors. We do my best to ensure that the information is accurate and up to date, but this is not In 1982 the company introduced the BIC Sailboard, which quickly became the North American market leader. The lighter allegedly exploded when it was dropped while lit. headquarters: 100 crystal a dr. At one time Waterman Pen was the worlds leading maker of fountain pens. The correction fluid subsequently was reintroduced as BIC Wite-Out. Starting To Click; Mainstay Products Help BIC Mark Profit Gains, Barrons, June 23, 1986, p. 52. In 1970, Gillette purchased the S. T. Dupont Company, a prestigious French manufacturer whose principal product was luxury cigarette lighters that sold for hundreds of dollars. Nevertheless, BIC, with its massive name recognition, did not appear to be struggling. Where his competitors were turning out junk, Bich made a reliable pen that could command a premium, but still cheap price. However, the date of retrieval is often important. Again, a successful advertising campaign was credited with creating strong awareness and demand for the product. Socit BIC was anxious to take advantage of the weak dollar and quickly made a sweet deal with stockholders to secure the merger. International Directory of Company Histories. Also in 1996, BIC rolled out its new Wite-Out Pen, a no-squeeze correction pen. (July 28, 2022). Sheaffer pens retailed from $25 to as much as $5,000 each, in stark contrast to BICs line, all of which sold for less than a couple of dollars. Fax: (616) 9235486 BIC reintroduced the sail-board to the U.S. market when the patent expired in 1987. By the mid-1990s lighters accounted for 24 percent of The company's Fashion Rollers included the Bouquet brand, which appealed to young girls, while the Old World brand appealed to businessmen. BIC Corporation launched its Specials Markets Division in 1978 to serve the promotional products industry with advertising specialty products. "bic launch sets off razor wars." Are the Talents Transferable?, Forbes, April 1, 1974, p. 62. The name was later shortened to BIC Corporation. In 1998, BIC purchased the Sheaffer Pen Corporation, a Fort Madison, Iowa-based manufacturer. According to BIC, the company defended itself in more than 50 lawsuits involving lighters between 1988 and 1993, losing only three. Sales of the fragrances lasted longer in Europe, but were eventually dropped overseas as well in 1991. Later that year, Time reported that BIC was test marketing a purposes only. (July 28, 2022). The ruling involved a case in which a three-year-old child took a BIC lighter from his fathers pants pocket and set fire to an infants bedclothes. The pen was successful in Europe, and in 1958 Bich purchased the Waterman Pen Company, based in Seymour, Connecticut, to gain access to the U.S. market. During this time Dupont explored the possibilities of marketing a disposable lighter, developing an inexpensive disposable lighter called Cricket, which it introduced in the United States in 1972. At the time BIC controlled about 65 percent of the market for disposable lighters. Encyclopedia.com. Employees are able to expand and grow with the company through their Employee Involvement Program in which individual ideas and suggestions are "recognized, implemented and rewarded.". (860) 571-5100 BIC Corporation's policy was to litigate rather than settle all product liability claims. By the time his competitors figured out how to build an equally good pen for the price, Bich had a lock on the market.. In 1971 Waterman-BIC became the BIC Pen Corporation, more accurately reflecting its business. BIC Corporation is a leading manufacturer of stationery products, lighters, and shavers and, as of 1997, was a subsidiary of Societe Bic. Waterman-Bic Pen Corp.: On the Ball with the Ball-point, Nations Business, December 1970, p. 72. It is also an industry leader in the production of disposable shavers. But by the end of 1978, BIC had surpassed Cricket, and in 1984, Gillette acknowledged defeat. In 1958, Bich agreed to purchase 60 percent of the company for $1 million. BIC takes great care in making and packaging their world-renowned ball-point pens; each pen gets special attention. Principal Subsidiary Companies: BIC Corporation's primary subsidiary is the Special Markets Division, which had annual sales of $17 million in 1996. that change in a timely manner. However, as a result of our longstanding philosophy to vigorously defend these claims, and our success in doing so, the number of lawsuits continues to decline. The first adverse decision resulted in a $1,000 verdict, and the second verdict that went against BIC was reversed and remanded for a new trial following BICs successful appeal. As an Amazon Associate Soon after founding the business, Bich began to explore the idea of a reliable, low-cost ballpoint pen. While early ballpoint pens were known to clog and leak, Bichs pens proved reliable and achieved immediate success in Europe with annual sales exceeding $5 million by 1955. Though BIC still trailed Gillettes pens in terms of pens sold to offices, the firm led the market for pens sold to individuals and had enhanced its line with many attractive new models. Students went ahead with the pen swap after hearing that Gillette (owned by Bic) and Pilot were both able to use older test data to get around the law requiring testing. In all, 17 quality checks are made during the ball-grinding and point-making process. Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA). BIC maintained that most of the incidents were caused by user negligence. Web site: http://www.clorox.com Pilot donated pens for the product exchange. But let somebody say, Flick my BIC,this is beautifully obsceneeveryone nods their heads and lets that go, because well, we know you cant possibly mean that, that would be obscene.. One of BICs most prominent products is its clear plastic ballpoint. bic's primary sics are: "BIC Corporation It pulled Cricket from the market and later sold the brand to Swedish Match Corporation, which licensed the lighter for distribution in the United States. BIC traces its beginnings to 1945, when Marcel Bich, a former production manager for a French ink manufacturer, purchased a factory outside Paris with partner Edouard Buffard to make fountain pen parts and mechanical lead pencils. Disposables were especially popular among teenagers, and women appreciated the BIC Lady Shaver, the first razor specially designed and marketed with them in mind. Hershey Foo, 1221 Broadway Street By 1967, the company was turning out nearly 500 million pens annually, accounting for nearly 60 percent of the U.S. market. The machines shape the outside of the pens. Information about some items was sent by manufacturers, In the 1950s, however, with the growing popularity of ballpoint pens, the company had begun to falter. For example, Go-Gos were aimed at 10-year-olds, Spring Fever for girls aged 10 to 18, and the Football and Basketball Series for 10 to 14 year old boys. Retrieved July 28, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/bic-corporation-0, headquarters: 500 bic dr.milford, ct 06460 In one of those, however, a jury in Creek County, Oklahoma found BIC responsible for injuries to three children severely burned while playing with a lighter, awarding $22 million in actual and punitive damages. By the end of 1979 Gillette and BIC each controlled about 50 percent of the market for disposables, which had grown to represent 20 percent of the total market for wet-shave razors. Bruno Bich, Marcels son, who became president of the U.S. subsidiary in 1982, later told Investor Relations that, With hindsight we should have given out more information and done it faster to avoid the inaccuracies and exaggerations that appeared in the press.. Double-digit growth in sales and net income was steady and, sometimes, spectacular. The company has facilities in nine locations in North America, Guatemala, and Mexico. During the same year, BIC introduced the BIC Lighter with Child Guard, a lighter with enhanced child-resistant features. In the early 1990s, BIC Corporation faced major legal challenges to its disposable lighter business in the United States. Marcel Bich and Edouard Bufford start making pen parts in France, Purchases the Waterman Pen Company located in Seymour, Connecticut, to become Waterman-BIC, BIC pens are introduced into the U.S. market, BIC Pen Corp. becomes a publicly traded company, BIC Sports becomes the world's leading sailboard company; introduces the Wite-Out Pen. Bich the Ballpoint King, Fortune, August 15, 1969, p. 122. Cooper, Wendy, The Case of the Exploding Lighters, Institutional Investor, December 1987, p. 209. phone: (203)783-2000 BIC Corporation's basic business strategy in the late 1990s was to produce and market low-cost, high-quality stationery products, lighters, and shavers. The company had for the most part operated independently of its European parent, and the relationship did not alter after BIC Corporation went private. BIC products include pens, pencils, lighters, and disposable razors. One of Bic's most successful product introductions was its "wrapped product," which consisted of a BIC disposable lighter with a decorative plastic wrap adhered to the body of the lighter. Bich then turned his attention to marketing his products in the United States. BIC maintained that most of the incidents were caused by user negligence. Each product has information about the date it was added to our database. Bics aim is to provide consumers with top quality products for their day-to-day lives at the minimum fair price. greensboro, nc 27408 phone: (336)547-6000 fax: (336)547-7630 toll free: (888)836-3971 url: http://www.vfc.co, founded: 1908 International Directory of Company Histories. A television ad campaign, with the slogan "Writes first time, every timeand for only 29 cents," was credited with creating broad appeal for the BIC pen in the United States. Although it stumbled again briefly in September following the airing of the ABC television program 20/20, which featured a story on lighter safety, the stock was back to $31 per share by October. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. Incorporated:, Biblioteca Nueva de Madrid (Freud, S., Obras Completas), Bibliographisches Institut & F.A. The slogan "Flick my BIC" was particularly memorable. At the time, BIC controlled about 65 percent of the market for disposable lighters. It is available to teachers at no charge on the program's Web site at http://www.qualitycomesinwriting.com. & CEO; Raymond Winter, Pres. The lighter allegedly exploded when it was dropped while lit. Producing inexpensive, quality products promoted through aggressive advertising campaigns, BIC has steadily increased its marketshare in the United States, maintaining 60 percent of the ballpoint pen market and 45 percent of the disposable shaver market in 1992. clichy, france: societe bic, 1997. investigate companies by their standard industrial classification codes, also known as sics. There were also reports of BIC lighters flaring up while they were being used or accidentally igniting while lying on overheated automobile dashboards. The company reported its highest ever sales and earnings in 1992, and moved its trading from the American Stock Exchange to the New York Stock Exchange. some were manually collected from manufacturer or dealer websites, some were programmatically collected They use black ink the most, followed by blue, red, and green. 28 Jul. 2022
. By then BIC had also taken a tentative step into sports equipment. U.S.A. The issue of safety became even more convoluted in 1992, however, when a U.S. Court of Appeals in Philadelphia ruled that manufacturers of products completely safe when used as intended may also have an obligation to make the product safe in unconventional circumstances. Despite an ad campaign that Advertising Age estimated as costing $22 million, touting the fragrances as Paris in your pocket, Parfum BIC lasted less than a year in the United States. Then, copy and paste the text into your bibliography or works cited list. Also acknowledging that a woman had died in an accident involving one of its lighters, BIC reassured the public that it had discontinued the model that was involved in the accident. Lighters continued to be profitable for BIC in spite of increasing competition from China and Thailand. First Bich expanded his business to include the manufacture of plastic barrels for ballpoint pen companies, and then, in 1949, he introduced his own line of ballpoint pens. Company Profiles for Students. The company was founded by Marcel Bich, who left his job as production manager for an ink company in 1945 to set up his own business outside of Paris, manufacturing parts for fountain pens and mechanical pencils. By the end of 1979, Gillette and BIC each controlled about 50 percent of the market for disposables, which had grown to represent 20 percent of the total market for wet-shave razors. Ingrassia, Lawrence, Gillette Holds Its Edge by Endlessly Searching for a Better Shave, Wall Street Journal, December 10, 1992, p. A1. Attorneys for the children argued that the lighter should have been more child resistant; BIC argued that the children should have been better supervised. We can't guarantee the completeness or accuracy of presented information. Bics core activities are the manufacture and sale of stationery products, lighters and shavers. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. This strengthened BICs position in the correction products market. Also acknowledging that a woman had died in an accident involving one of its lighters, BIC reassured the public that it had discontinued the model that was involved in the accident. Gillette seriously underestimated the demand for disposable razors, however. "There is no ongoing testing," the statement says, contrary to PETA's claims. In 1992 BIC purchased Wite-Out Products, Inc., the second largest maker of correction fluids for office use in the United States. BIC Corporation is the countrys leading manufacturer of disposable ballpoint pens and cigarette lighters. Eventually, the company changed its tactics and revealed that there were 42 lawsuits then pending. An Igniting Controversy, Time, April 20, 1987, p. 56. new york: smith barney shearson, 20 august 1993. bic corporationquality comes in writing web site, june 1998. available at http://www.qualitycomesinwriting.com. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Within ten years, Gillette would stop advertising its disposables to concentrate on its razor systems and replacement blades. In light of a subsequent decision by the Pennsylvania court, BIC is expected to re-file its motion for summary judgment. The company also changed the name of its Writing Instruments division to Stationery Products, indicating an intention to market an expanded line of stationery-related products, while continuing to expand its successful lines of pens, lighters, and shavers. (616) 9265000 . The Waterman Pen Company in Seymour, Connecticut, was founded by Lewis E. Waterman, an American insurance salesperson and part-time inventor, who developed the first practical fountain pen in 1884. Fax: (510) 832-1463 Bruno Bich, Marcels son, who became president of the U.S. subsidiary in 1982, later told Investor Relations, With hindsight we should have given out more information and done it faster to avoid the inaccuracies and exaggerations that appeared in the press.. Sloan, Pat, Bic Pulls Fragrances After Flickering Sales, Advertising Age, March 12, 1990, p. 77. As a result of BIC managements candor, the companys stock began to regain value. Each of BIC's medium point pens can write for more than two miles, and each fine point pen will write for more than three miles. In order to further educational development, BIC offers "Quality Comes in Writing," an educational program created for the company by Lifetime Learning Systems. Discovering the Potential in BIC, Business Week, July 30, 1979, p. 65. BIC also slashed the wholesale price of its lighters so they sold at retail for less than one dollar. . Gillette Challenges Bic To Verify Its Ad Claims, Business Week, March 19, 1979, p. 32. Many of BIC Corporation's writing instruments were tailored for specific age ranges or population categories. A series of commercials soon showed sensuous women urging cigarette smokers to Flick My BIG, a phrase perceived as having sexual connotations, that soon became a part of the national lexicon. . BIC, however, advertised heavily, again relying on catchy television commercials. The company was renamed the Waterman-BIC Pen Corporation, and its headquarters was moved to Milford, Connecticut. 500 BIC DriveMilford, Connecticut 06460U.S.A. Ingrassia, Lawrence, Gillette Holds Its Edge By Endlessly Searching For a Better Shave, Wall Street Journal, December 10, 1992, p. Al. However, as a result of our longstanding philosophy to vigorously defend these claims, and our success in doing so, the number of lawsuits continues to decline. The first adverse decision resulted in a $1,000 verdict, and the second verdict that went against BIC has been reversed and remanded for a new trial following BICs successful appeal. hershey, pa 17033-0810 phone: (717)534-6799 fax: (717)534-6724 url: http://www.hersheys.com Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. Sales by foreign subsidiaries accounted for about 20 percent of BIC Corporation's sales in the mid-1990s. to determine the safety . In February 1994, BIC Corporation launched its first-ever line of twin-blade disposable razors, including the BIC Twin Select and Twin Pastel. Anticipating that BIC would next bring out the shaver in the United States, Gillette quickly introduced its own disposable razor dubbed Good News! in 1976, a full year before the BIC shaver made its American debut. We use various resources to gather data. Armstrong, Jeffrey D., BIC Corp.: The Stock Will Strengthen as the Issue of Lighter Safety Fades, Barrons, October 12, 1987, p. 69. Where his competitors were turning out junk, Bich made a reliable pen that could command a premium, but still cheap price. Bich then turned his attention to marketing his products in the United States. It was the fifth-largest pen manufacturer in the world, and this acquisition added premium writing instruments to Bic's line of product offerings. "BIC Corporation Combined, that's enough ink to cover the Great Wall of China almost 2 million times per day! Anticipating that BIC next would bring out the shaver in the United States, Gillette quickly introduced its own disposable razor dubbed Good News! in 1976, a full year before the BIC shaver made its U.S. debut. The latch slid back into place automatically after each use. fax: (203)783-2086 BIC sells over 14 billion pens in 150 different countries every day. Whereas early ballpoint pens were known to clog and leak, Bichs pens proved reliable and achieved immediate success in Europe with annual sales exceeding $5 million by 1955. Competitors in those industries include: American Safety Razor; Gillette; PaperMate; Pentel; Pilot; Sanford; Schick; and Warner-Lambert. Then in 1975, BICs parent corporation, the French Socit BIC, S.A., introduced a disposable plastic shaver in Europe. In the early to mid-1990s, BIC Corporation was also able to revitalize its writing instrument sales by applying the same line extension strategy used for its lighter products (the application of decorative wraps). & COO. , $22M Campaign Urges: Spritz Your Bic, Advertising Age, February 20, 1989, p. 3. Encyclopedia.com. The patented Child Guard lighter required that a safety latch be moved to the side and up before it would light. King, Resa W., Will $4 Perfume Do the Trick for Bic? Business Week, June 20, 1988, p. 89. With strong profits and annual sales in excess of $500 million ($439.3 million in 1996), BIC Corporation handles all of the company's business in North and Central America. Students at Bristol Eastern High School tried to curb Bic's product testing on animals. Students practice writing skills as they decode, create, and write their own stories, study and write ballads, and keep a hypothetical journal for a famous person. They founded the company that would later become Bic. url: http://www.bicworld.com http://www.qualitycomesinwriting.com. The company reported its highest ever sales and earnings in 1992 and moved its trading from the American Stock Exchange to the New York Stock Exchange. Langway, Lynn, Razor Fighting, Newsweek, November 22, 1976, p. 103. At the time, lighters accounted for about 40 percent of BICs revenues, and the day the story appeared, BIC stock fell 25 percent, from $32 to $24 per share. ." U.S.A. There were also reports of BIC lighters flaring up while they were being used or accidentally igniting while lying on overheated automobile dashboards. In 1992, BIC purchased Wite-Out Products, Inc., the second largest maker of correction fluids for office use in the United States. BIC Corporation's international operations include subsidiaries in Canada, Mexico, Puerto Rico, and Guatemala. However, the issue of safety became even more convoluted in 1992 when a U.S. Court of Appeals in Philadelphia ruled that manufacturers of products completely safe when used as intended may also have an obligation to make the product safe in unconventional circumstances. For a week, the company stonewalled, refusing to provide information or answer questions about the allegations amid rumors that thousands of lawsuits had been brought against the company and that a New Jersey congressperson was threatening to hold hearings on the safety of BIC lighters. In 1982, the company introduced the BIC Sailboard, which quickly became the North American market leader. During this time Dupont explored the possibilities of marketing a disposable lighter, developing an inexpensive disposable lighter called Cricket, which it introduced in the United States in 1972. We cannot guarantee all of our data is 100% accurate. The case, Griggs v. BIC Corp., was remanded to a lower court that had originally dismissed the case. on ProductFrom.com are the property of their respective owners. Public Company In 1963 Waterman-BIC, which later became BIC Corporation, moved into new facilities in Mil-ford, Connecticut. By the time his competitors figured out how to build an equally good pen for the price, Bich had a lock on the market.. In January 1997, BIC released a line of decorator pens featuring a wraparound PVC shrinkband printed with a universal product code (UPC) that allowed consumers to purchase the pens individually or in packs. The new line was designed to compete with Gillette Company's Blue II Plus. When the true financial condition of the company became known, Bich was able to acquire the remaining 40 percent for nothing. "scorching demand for lighters." sites to earn advertising fees by advertising and linking to amazon.com. always possible. The latch slid back into place automatically after each use. Analysts were skeptical whether U.S. consumers would accept an inexpensive French perfume since part of the appeal of French perfumes lay in their image as luxurious and expensive. Web site: http://www.lo, 2000 M63 North In 1967, the BIC Canada division was created, and in 1971, BIC Pen Corp. became a publicly traded company listed on the American Stock Exchange. Starting To Click; Mainstay Products Help BIC Mark Profit Gains, Barrens, June 23, 1986, p. 52. The company's 1997 acquisition of Schaeffer also helped increase Bic's market share by adding premium writing instruments to its product offerings. Public Company Earthlings, a student environmental group, sponsored a "pen swap" in hopes of encouraging peers to trade in BIC pens (the ink is tested on animals) with those from Pilot, one of the few writing instrument manufacturers that does not do animal testing. In 1995, with exchange rates very favorable to the French franc, BICs parent, Socit BIC, S.A., offered to buy up a large chunk of BIC Corporations stock and take the company private. As a result of BIC managements candor, the companys stock began to regain value. Bic monitors the entire manufacturing process, giving constant attention to the development and improvement of its products. For a week the company stonewalled, refusing to provide information or answer questions about the allegations amid rumors that thousands of lawsuits had been brought against the company and that a New Jersey congressman was threatening to hold hearings on the safety of BIC lighters. the tattoo: a student publication of the bristol press, 7 april 1997. available at http://ourworld.compuserve.com/homepages/majerus_collins/bicpens.htm. headquarters: po box 21488 bic corporation company report. New products have long been a growth area for BIC Corporation, and the company continued to roll out many new products in the 1990s.
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