Benjamin Moore CEO not threatened by boutique paint shops
Benjamin Moore & Co. CEO Mike Searles isn’t worried about any potential business threats from small boutique paint shops that are trying to attract millennials.
“There are always going to be people that want a small boutique product,” Searles told FOX Business’ Liz Claman during an interview in Omaha, Nebraska, for the annual Berkshire Hathaway shareholders meeting. “But we perform better than any of them.”
In order to reach customers, Benjamin Moore works with architects and designers, who can then recommend the product to their clients. Now, Searles is eagerly anticipating summer after a long, cold winter. Cold weather tends to be bad for the paint industry, since most people don’t paint the exterior of their homes in the winter.
“We’re looking forward to a great season,” he said. “Demand is high, and customers are feeling good about their income. It should be terrific for those of us in the paint business.”
Warren Buffett’s Berkshire acquired the New Jersey-based paint store in 2000.