CEO on radio this morning basically said they haven't delivered to plan in NZ and Australia this year - maybe the plans weren't that good
Lets blame the consumers and the plumbers for not buying their stuff ...hmmm wonder why
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CEO on radio this morning basically said they haven't delivered to plan in NZ and Australia this year - maybe the plans weren't that good
Lets blame the consumers and the plumbers for not buying their stuff ...hmmm wonder why
Parents redid their bathroom and the entire consultation period they were pressured into the euro brands Elementi and Parisi... and of course they gave in.
Methven need to have some boots on the ground marketing with the people who can actually sway customers... old fashioned commission based model for the retailer/contractor to push heavily into selling their product - you gotta have some sleezy salesmen pushing it onto customers.
Methven ain't broken or going bust. Just a solid company where ongoing innovation keeps them in the game.
It's just they have these allusions of grandeur giving false hope .....and as Percy says rarely delivering on what they say they will do.
MVN used to be the gold standard. Every plumber installed them cos they rarely gave trouble and did not leak. The slide began about 2014 when production moved to China and the quality of tap ware cartridges declined, and leaked or gave problems after a year or two. When a shower mixer behind the shower wall leaks, it is usually not seen until much damage is done. Has caused Plumber angst, and what happens when you piss off your major customer base! Ask the Plumbing wholesalers, their guys behind the counter know whats going on. MVN have traded on their good name but it's wearing thin. Still not a lost cause if they act now to correct quality issues as MVN is a strong brand in NZ and Aus. Disc. Had a bathroom Reno business.
Reading MVN's page after page in their presentations,I think they try to do too much.After page 14 I usually give up.
As other posters have suggested ,concentrating on strengthening their sales force may produce results.
As W69 said getting products 'specified' is the key to success.
MVN one of the stars of the bourse today
No 102 for you bottomfeeder
Maybe its a good thing. We will see.