Ronco
Encyclopedia
Ronco is an American
company that manufactures and sells a variety of items and devices, most commonly those used in the kitchen. Ron Popeil
founded the company in 1964, and commercials for the company's products soon became pervasive and memorable, in part thanks to Popeil's personal sales pitches. The names "Ronco" and "Popeil" and the suffix "-O-Matic" (used in many early product names) became icons of American popular culture and were often referred to by comedians introducing fictional gadgets.
and the Popeil Pocket Fisherman, a product manufactured by S.J. Popeil's company. During the 1970s, Ron Popeil
began developing products on his own to sell through Ronco. Ronco became a household name with its commercials for kitchen products including the Ginsu knife, and Armorcote (and Armorcote II) non-stick saucepans and frying pans. Aired frequently, especially during off-hour TV viewing times, these commercials became known for their catchphrases such as "...but wait, there's more!" "50-year guarantee" (later expanded to a "lifetime guarantee"), and "...now how much would you pay?"
When the infomercial
, a program-length advertisement, was devised in the 1980s, it became one of the most popular forums for Ronco to sell its products; however, Ronco did not adopt the infomercial format for its products for several years.
In August, 2005, Popeil announced his sale of the company to Fi-Tek VII, a Denver holding company, for $55 million. He was expected to continue working with the company as spokesman and product developer, but sold the company in order to have more time with his family. Fi-Tek VII changed its name to Ronco, and maintained the right of first look
for Popeil's future inventions.
Ronco used to hold the trademark on the phrase "set it and forget it", used in the commercials for the Showtime Rotisserie Grill. The phrase has gone on to be used in popular culture, including an episode of the comedy news program The Daily Show
that reported on a Senate debate over catchphrases for summarizing positions on war in Iraq.
On June 14, 2007, Ronco filed Chapter 11 in U.S. bankruptcy court. Paperwork filed showed that Ronco creditors, the largest of which is Popeil himself, were owed US$32.7 million.
On August 9, 2007, Ronco was purchased by Ronco Acquisition Corporation, to make The New Ronco. After a high profile bankruptcy, consumer and direct marketing veteran, Larry Nusbaum, partnered with Marlin Equity Partners, as the Chief Executive and co-investor to lead the Company back to profitability. Nusbaum is now the president and CEO of Ronco.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
company that manufactures and sells a variety of items and devices, most commonly those used in the kitchen. Ron Popeil
Ron Popeil
Ronald M. Popeil is an American inventor and marketing personality, best known for his direct response marketing company Ronco...
founded the company in 1964, and commercials for the company's products soon became pervasive and memorable, in part thanks to Popeil's personal sales pitches. The names "Ronco" and "Popeil" and the suffix "-O-Matic" (used in many early product names) became icons of American popular culture and were often referred to by comedians introducing fictional gadgets.
History
In the beginning, the company chiefly sold inventions developed by Popeil's father, Samuel "S.J." Popeil. Products include the Veg-O-MaticVeg-O-Matic
Veg-O-Matic was the name of one of the first food-processing appliances to gain widespread use in the United States. It was invented by Samuel J...
and the Popeil Pocket Fisherman, a product manufactured by S.J. Popeil's company. During the 1970s, Ron Popeil
Ron Popeil
Ronald M. Popeil is an American inventor and marketing personality, best known for his direct response marketing company Ronco...
began developing products on his own to sell through Ronco. Ronco became a household name with its commercials for kitchen products including the Ginsu knife, and Armorcote (and Armorcote II) non-stick saucepans and frying pans. Aired frequently, especially during off-hour TV viewing times, these commercials became known for their catchphrases such as "...but wait, there's more!" "50-year guarantee" (later expanded to a "lifetime guarantee"), and "...now how much would you pay?"
When the infomercial
Infomercial
Infomercials are direct response television commercials which generally include a phone number or website. There are long-form infomercials, which are typically between 15 and 30 minutes in length, and short-form infomercials, which are typically 30 seconds to 120 seconds in length. Infomercials...
, a program-length advertisement, was devised in the 1980s, it became one of the most popular forums for Ronco to sell its products; however, Ronco did not adopt the infomercial format for its products for several years.
In August, 2005, Popeil announced his sale of the company to Fi-Tek VII, a Denver holding company, for $55 million. He was expected to continue working with the company as spokesman and product developer, but sold the company in order to have more time with his family. Fi-Tek VII changed its name to Ronco, and maintained the right of first look
Right of first refusal
Right of first refusal is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party...
for Popeil's future inventions.
Ronco used to hold the trademark on the phrase "set it and forget it", used in the commercials for the Showtime Rotisserie Grill. The phrase has gone on to be used in popular culture, including an episode of the comedy news program The Daily Show
The Daily Show
The Daily Show , is an American late night satirical television program airing each Monday through Thursday on Comedy Central. The half-hour long show premiered on July 21, 1996, and was hosted by Craig Kilborn until December 1998...
that reported on a Senate debate over catchphrases for summarizing positions on war in Iraq.
On June 14, 2007, Ronco filed Chapter 11 in U.S. bankruptcy court. Paperwork filed showed that Ronco creditors, the largest of which is Popeil himself, were owed US$32.7 million.
On August 9, 2007, Ronco was purchased by Ronco Acquisition Corporation, to make The New Ronco. After a high profile bankruptcy, consumer and direct marketing veteran, Larry Nusbaum, partnered with Marlin Equity Partners, as the Chief Executive and co-investor to lead the Company back to profitability. Nusbaum is now the president and CEO of Ronco.
Awards
- The Ronco Inside-The-Shell Electric Egg Scrambler, from 1978, won 84th place in Mobile magazineMobile MagazineMobile Magazine is an online publication which started in December of 2000. Mobile Magazine covers mobile technology, including notebook computers, mobile phones, personal digital assistants, MP3 players, digital cameras, mobile gaming, and other portable electronics and computing devices as well...
's Top 100 Gadgets of All Time.
External links
- Official Site
- But Wait, There's More! from FreeEnterpriseLand.com
- Watch Classic Ronco Commercials at Biography.com
- Saturday Night Live Transcript of "Super Bass-o-Matic '76" skit