Cutco
| File:Cutco logo.png | |
| Private | |
| Industry | Kitchen accessories |
| Founded | 1949 |
| Headquarters | Olean, New York, U.S. |
|
Key people
|
Jim Stitt Sr., Erick, Laine, Bob Lorenz,John Whelpley, Jim Stitt Jr., Bruce Goodman, Al DiLeonardo |
| Products | Cutlery |
| Revenue | $200,000,000 |
|
Number of employees
|
701 |
| Slogan | The World's Finest Cutlery |
| Website | www.cutco.com |
Cutco Corporation, formerly Alcas Corporation, is the parent company of CUTCO Cutlery Corp., direct sales marketing company Vector Marketing, KA-BAR Knives Inc. and Schilling Forge. Its primary brand is the name Cutco.
The company was founded in 1949 by Alcoa and Case Cutlery (hence "Al-cas") to manufacture knives. The management purchased the company from Alcoa in 1982, and the company acquired Vector Marketing Corporation in 1985.[1]
In early 2009, Alcas changed its name to Cutco, the name of the primary product.
Products
Cutco is a brand of cutlery and kitchen accessories directly marketed to customers through in-home demonstrations by independent sales representatives who are mostly college students.[2][3] More than 100 kitchen cutlery products are sold under the Cutco name, as well as a variety of kitchen utensils, cookware, sporting and outdoors knives.
Although the products are not typically purchased in retail stores, Cutco has opened six of its own retail stores: Indianapolis, Indiana; Okemos, Michigan; St. Louis, Missouri; Novi, Michigan; Edina, Minnesota; and Erie, Pennsylvania.[4] The company's knives are produced in Olean, New York, United States, while other products are made in Mexico and China.[5]
Vector Marketing
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Vector Marketing is a single-level direct sales group that builds its work force through advertising via newspapers, direct marketing, word-of-mouth, posted advertisements, letters and various media on the internet.[6][7][8] Their fliers advertising "student work" are distributed in many high schools and college campuses across the United States and Canada. Students are hired to sell Cutco products (mainly kitchen knives) to customers, starting with their friends and family, then branching out through recommendations, all through one-on-one demonstrations. While Vector required a deposit on the sample kit Representatives were issued in the past, this was changed in 2011 and deposits are no longer required from Representatives. Vector provides work experience as well as sales experience for students. Vector's busiest season is during the summer when a majority of students work until they go back to school in the fall, students also have the chance to return the next summer and continue their position at the same commission rate when they left with the same sales statistics [9][10][11][12]
Cutco Foundation
Cutco established the Cutco Foundation in 1996 to contribute to communities in which Cutco has a substantial presence. The Foundation has donated to Pi Sigma Epsilon's annual Pro-Am Sell-A-Thon, an annual sales competition for college students.[13] Cutco is particularly active near its home base of New York, and the Foundation has contributed to St. Bonaventure University, Southern Tier Catholic Schools, Friends of Good Music, Jamestown Community College, Comstock Hospice Care Network, Alfred University, Olean General Hospital and the Allegheny River Valley Trail.[14]
References
- ↑ Cutco Company History
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- ↑ Made in America, Cutco.com
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- ↑ Episode 10. Street Cents, January 14, 2002
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