On my podcast this week I introduced you to three paint executives. Seeing opportunity in the demise of Kelly-Moore, each led their firms through actions which allowed them to acquire the best of Kelly’s assets: employees, retail locations and customers–while others read the news.
Each taking advantage of a never-again opportunity, transforming their businesses to allow for these great efforts!
Not interested in stealing any thunder and knowing stories are best told in the first person, I kept those introductions short. THE time savings allowing me to update you on news of the architectural coatings segment.
That news dominated by the continued growth of THE independent channel.
In the episode I report that sales at Benjamin Moore are flat as compared to the same period last year, impressive considering the results reported by national paint retailers.
THE results may explain why the world’s second largest coatings manufacturer PPG is considering a divestment of their architectural coatings portfolio: Benjamin Moore is kicking their ass! At-least in the independent channel!
In the company-owned stores and home center market segments its Sherwin-Williams and Behr who kick PPG’s ass, the combined impact of those whoopings likely spelling the end for architectural coatings at PPG.
Despite rumors PPG will announce their intentions with their second quarter earnings sometime in July, that strike me as unlikely. Because while I do believe PPG will divest themselves of their architectural coatings brands I also believe those transactions will take time to develop and execute. The due diligence alone on a $1.8 billion acquisition would likely take months and would only begin after PPG found a buyer.
Which probably hasn’t happened yet.
Even before selling my Bronx, New York paint stores and retiring from everyday commitments I was picky about the consulting work I took on, only accepting engagements I believed would be rewarding. And, only working for executives I trusted to treat me fairly were they to ever lose THE love.
Which can happen!
In semi-retirement I hike Mount Pickiness to its summit, only considering opportunities which meet that standard, and do so while not obligating too many hours.
Due to my distaste for working them!
Which may explain my failure to write a single proposal for consulting services year-to-date and the absence of any plans to do so. Though that doesn’t mean I still can’t throw a pitch!
Recently I was contacted by an executive outside of my regular network who after introducing themselves had some questions for THE beard. Our topic of conversation so beguiling it fired pitch-writing synapses otherwise dormant in their semi-retired slumber.
My interests fully piqued I threw a pitch for my services for the first time this year; limited in a way not to obligate a written proposal.
Which still seems a hurdle I’m unwilling to leap!
Practice What You Preach
It was an opportunity to test theory which most aroused my interest. That, and my desire to gain proximity to an event which might one-day be worthy of words in these pages. Or a chapter in a book were I to make that effort, which I frequently consider doing.
It was my proximity to Gassenheimer which made the Kelly-Moore coverage possible. His actions viewed from that unique perspective mused what’s likely to remain the most widely read and interacted with content of my career.
Unless the next time our industry makes such news, I’m standing even closer!
