OurPet’s Company’s (OTCQX: OPCO) business strategies have
contributed substantially to its success, and so has the growth of the pet
products industry. The pet products industry is booming. It has grown from
around $16 billion in annual sales in 1995, when OurPet’s first entered the
industry, to around $65 billion in 2015, according to the American Pet Products
Association.
In a February 2016 interview with Thomas Rice, editor of The
Bowser Report, Dr. Steve Tsengas, CEO of OurPet’s Company, shared his insights
about the future of his company and the pet products industry. “The industry
continues to grow, especially cat products, which are increasing about 6% a
year,” according to Dr. Tsengas. He also shared that the annual sales number
for dog products is increasing at around 2-3%.
OurPet’s specializes in providing easy-to-use feeding and
waste management solutions for both dogs and cats. Dr. Tsengas’s life-long
interest in holistic health, combined with his love of pets, led him to pursue
a PhD in natural health and nutrition. That drive also led him to apply his
knowledge and interest to developing pet accessories and consumable products
that improve the health, safety, comfort and enjoyment of pets. Dr. Tsengas has
had a deep interest in a holistic, integrated approach to health for more than
35 years, and, to date, his unique and novel pet products have been issued
dozens of patents.
OurPet’s product design process begins with an analysis of
the health, behavioral and lifestyle needs of a pet and its respective pet
parent(s). Once the company discovers an innovative way to fulfill those needs,
it offers a problem-solving solution to the pet owner(s). Over the years, this
approach has resulted in the creation of highly-marketable products that are
now being offered to retailers.
These days, OurPet’s is preparing for its next stage of
growth. Management hopes that will mean about $50 million in annual revenues
five years from now, and, as a result, the team has updated the company’s
infrastructure to handle a higher sales volume. As Dr. Tsengas explained, the
company has automated its “Enterprise Resource Planning system complete with
automatic warehouse logistics” and it is now receiving and processing orders
electronically, all the way to payment. At the end of 2015, OurPet’s also
finalized a new branding strategy. Now, the company has two brands: The
OurPets® brand caters to pet specialty markets like PetSmart and Petco and the
Pet Zone® brand caters to mass markets like Walmart. With these marketing and
technical initiatives in place, OurPet’s appears poised for long-term growth
and success.
For the full interview, visit http://dtn.fm/q3DjP
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
