Singer's New Seam

Few retail chains have lasted longer while changing less than the nationwide string of stores operated by the Singer Manufacturing Co. In the 111 years since Singer's founding, its stores have offered customers nothing but sewing machines, sewing accessories, sewing lessons--and, latterly, vacuum cleaners. Now, however, in 864 of its retail outlets, Singer is offering something new -- a 770-page mailorder catalogue that lists more than 15,000 items ranging from lingerie to storm windows.

The Full Spectrum. By operating as mail-order centers, Singer stores hope to increase their volume sharply without much additional cost. If the idea works, Singer President Donald Kircher, 47, intends to install catalogue counters in 1,400 stores in smaller communities across the U.S. and Canada. (Singer expects that its 200 stores in big cities will stay out of the mail-order business.)

Crisp, cool Donald Kircher. a onetime corporation lawyer who took command of the company five years ago, is out to diversify it. In the past two years. Singer has bought three textile-machinery companies, two of which make knitting equipment and are profiting mightily from the current fashion for knitted goods. In electronics. Singer has a subsidiary called HRB-Singer, Inc., which does military research and development, and another called Singer Metrics, which makes spectrum analyzers and other microwave equipment. Other Singer subsidiaries manufacture carpetmaking machines, even sell power tools to Sears, Roebuck. Such side efforts in 1962 accounted for 20% of the company's estimated $640 million in sales.

On the Big Board. But sewing machines are still what make Singer's business hum. A decade ago, competition from cheaper Japanese machines and technologically superior European machines such as Pfaff and Necchi had Singer breathing hard. But today Singer's American-made "Slant-O-Matic" has recaptured technological superiority, and the machines that the company makes in overseas plants to be sold in the U.S. compete with the Japanese in price. Singer now holds more than 40% of the U.S. sewing-machine market and is picking up another 2% each year. Abroad, where the fastest growth in sewing-machine sales is expected, Singer accounts for 25% of the free world market.

By giving Singer a spry new look--the average age of the company's top executives has dropped from 58 to 49 since 1958--Kircher has brought joy to the hearts of his stockholders. Once reluctant to reveal financial information required by the stock exchanges. Singer is now on the Big Board, where its shares last week were selling for 126. Singer plans a 2-for-1 stock split later this year, and all signs are that the company's biggest diversification projects (which will probably be in electronics) are still to come. In addition. Singer plans a major drive to publicize its wide new range of interests. Says Kircher: "We want to make sure that when people say 'Singer,' they no longer just think of sewing machines."

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