There may be few combinations more powerful than a recognizable brand and a fast-growing market.
Dean Petruzzi, president, CEO and co-founder of Technuity Inc., and a veteran of several ventures in the battery business, saw a lucrative opportunity for a company that could come up with battery products for the fast-growing number of devices that require them, from laptops to digital cameras and cell phones. To maximize that opportunity, Petruzzi struck a deal with Energizer Corp. — which wanted to exit the rechargeable battery segment — to use its brand on battery products that Technuity procures from offshore manufacturers, then sells to its wholesale and retail customers.
Wrapping a recognizable brand around its products is one way to maximize its chances for success, but Technuity has gone even further. It offers retailers back-end solutions for their Internet sites, freeing them from having to sort out the dizzying assortment of batteries required for a nearly endless number of applications. The service transparently links orders placed on a retailer’s site to Technuity for fulfillment and distribution.
Petruzzi says that Technuity’s revenue grew between 20 percent and 30 percent a year from 2002 to 2005, and he anticipates growth in the 20 percent range for 2006.
Petruzzi spoke with Smart Business about how he deals with the challenges and opportunities of building a business in a growing industry.
