WAYNE, N.J.–Russ Berrie and Company Inc. plans to change its corporate name—subject to shareholder approval later this month—to Kid Brands Inc.
The new name will better reflect the company’s shift and growth strategies targeting the global infant and juvenile product market, the company said. It would continue to market its branded products primarily under the brand names of its subsidiaries—Kids Line, LaJobi, Sassy and CoCaLo—as well as offer programs under select licenses such as Carter’s, Disney, Graco and Serta.
“Our decision to pursue a new corporate identity as Kid Brands Inc. is the culmination of our company’s transformation toward focusing purely on the attractive infant and juvenile products industry,” said Bruce Crain, chief executive officer and president. “The name reflects and communicates our current portfolio of infant and juvenile businesses and is also consistent with our additional growth strategies and intentions to enter complementary and adjacent categories over time.”
Shareholders have been notified of the proposed change and will vote on it during the company’s annual meeting on Sept. 22. If the change is approved, the company anticipates that its trading symbol on the NYSE would be changed to “KID” as soon as possible.