NWL
#So <UNK>, you're looking for the split of our A&P by new products versus core, is that what you are looking for.
Right.
What we have learned over the last couple years, is that our investment generates the most growth yield when it's connected to innovation.
So the vast majority of our investment is behind product news.
And there are a couple of exceptions to that.
We've done some work on Sharpie, on the core brand of Sharpie that have worked to expand consumption.
But most of the investment is focused on new news, and that is what you should expect gong forward.
That is certainly true on the advertising line.
On consumer promotion, it's a more balanced approach.
On trade promotion, more balanced approach because that's the part of A&P that is focused on activating our brands in key dry periods.
So it's a balance of core and new items.
So all the display material we use to get off shelf during key merchandising windows, are clearly both on the core and on the new news.
So advertising is skewed very dramatically towards new news.
And promotion's skewed ---+ or promotion more balanced across the whole portfolio.
That's the logic you should have in place.
I've seen plenty of ideas in businesses grow without major A& P investment.
You establish a new idea, and you get great distribution on it, and you continue to activate it with great display activity, and punctuate A&P investment or advertising investment, you can do a lot to deliver sustained growth ---+ there are many, many examples that I can point to in my career, where you seed an idea with significant investment upfront, and then you pull back over time, and get great ---+ and continue to innovate in it, and get great year two, year three momentum.
We are seeing that on InkJoy right now.
If you look back at the spending, a year ago, two years ago, the vast majority of our writing investment went ---+ a good chunk went against Paper Mate InkJoy.
Today our spending is focused on InkJoy new items, and not on the core proposition.
So we established InkJoy.
It continues to grow, and now we're punctuating spend on new items.
And so, that is one of the kind of the keys to sustained growth.
It's to be able to play the game the way you just described.
And there are many, many examples that I could point to across all the categories that I've worked in where that has held up.
Thanks very much, Lori.
Thank you to you all, to all of you on the call for your interest in our Company.
And most importantly, thanks to all the Newell people, who work tirelessly to make these results happen.
We'll talk to you soon.
Thanks.
