House

It was in 1955 that Waterford Crystal made its first profits. At the time, word of mouth was their best advertising by visitors to Ireland. In 1958, it was decided to no longer do business through the New York agent and to go it alone. They now sold from their factory to the stores. During the 1960's and 1970's demand for Waterford Crystal expanded dramatically. Demand began to exceed supply. Consequently, the glass works grew in size and stature to become the best-known name in hand crafted crystal. The brand was by now firmly established. Johnstown was no longer large enough to cope and so in 1970, a new factory was opened in Kilbarry. It was to be built in many stages, as it still was inadequate in size. Before the final stage of Kilbarry was completed, Waterford Crystal bought land at Dungarvan and built a factory there with the same process as Kilbarry. It was in July of 1973 that Waterford Crystal completed the Kilbarry plant at 425,000 feet, almost 10 acres. It was the largest manufacturing unit of its type in the world. After the oil crisis of the winter of 1973 - '74, Waterford planned another factory, this time for lighting ware, for which the demand was so great that it was impinging on the normal production. The demand for Waterford Crystal remained huge and Waterford Glass Ltd. became a public company in 1966. In the 1980's computer technology improved the accuracy of the raw materials mix, known in the crystal industry as the "batch". Pure raw materials are consistently blended for much greater accuracy than was possible a century or two ago. The greater accuracy than was possible a century or two ago. The latest furnace design, one that uses natural gas instead of oil was introduced in November 1986, and saved the Company £2 million on their annual oil import bill. In addition, the research and development portion of the company identified major cost and quality improvements that could be realised through the use of diamond wheel cutting. Diamond wheels are introduced into production in 1987. These have assisted Waterford craftsmen in creating even more exciting and intricate patterns. It was later in 1986 that Waterford Glass Ltd. acquired Wedgwood, the prestigious North Staffordshire pottery in England, specialising since 1759 in exquisite bone china and earthenware. Wedgwood is arguably the greatest name in ceramics in the world today and was strong in markets where Waterford needed to develop. In the late 1980's and early 1990's, Waterford Crystal was hit by a severe financial crisis. It was due mainly to a dramatic fall in the value of the dollar, decline in demand, inflationary labour agreements and unsuccessful and costly restructuring attempts. It was in 1990 when new investors turned the trend around with a cash injection. Waterford Crystal launched the Marquis brand in 1991. This extensive range of crystal products, including stemware and hollowware pieces, was the first brand in the company's two hundred year history fine enough to carry the name Waterford Crystal. New products were introduced from the finest crystal facilities in Europe in 1992, all manufactured to the same exacting standards as Waterford. Work practices in Waterford Crystal were then revolutionised. An investment in technology over five years was a major contributor in the rapid turnaround to success. In February of 1993, Waterford Crystal received a grant from 'Industry Research and Development Initiative' for new glass melting technology. The Waterford Wedgwood Group has enlisted the help of celebrities to promote their brands. John Rocha's Waterford designs were an overnight success as were British designer Jasper Conran's designs. Other acquisitions made by Waterford Wedgwood includes the ceramic companies Rosenthal and All Clad. Perhaps Waterford Crystal's greatest promotion to date was the Times Square New Year's Eve Millennium Ball of which an estimated 1.2 billion people watched with awe and amazement as the 6-foot diametric crystal ball was lowered down the pole during the New York year 2000 countdown. During the difficult financial crisis in 2008, the Waterford Wedgwood Group and associated companies were unable to secure additional financial revenue to maintain the operation of their global business. On 30th January 2009, it was announced that Waterford Crystal was in receivership. However, in February 2009 it was confirmed that KPS Capital, a US based equity firm were to purchase some overseas assets and businesses of the Waterford Wedgwood Group. In January 2010 WWRD Group Holdings Limited, the leading luxury goods group which owns and operates the Waterford Crystal, Wedgwood and Royal Doulton brands, announced that it had signed an agreement with Waterford City Council to open a brand new Waterford Crystal manufacturing facility and retail outlet in the very heart of Waterford. The new Waterford Crystal Manufacturing Facility melts down more than 750 tonnes of crystal and produces more than 45,000 pieces each year using traditional methods. The facility offers guided tours of the manufacturing process to all of its visitors both International and domestic. Since it's opening in June 2010, over 800,000 people have visited the Retail Store and factory tour. In July 2015 Fiskars Corporation (Fiskars), a leading global supplier of consumer products for the home, garden and outdoors, acquired the WWRD group of companies (WWRD) and its portfolio of iconic luxury home and lifestyle brands, which include Waterford, Wedgwood, Royal Doulton, Royal Albert and Rogaška. Fiskars continues executing its growth strategy and becomes a leading global branded consumer goods company in the luxury and premium home and lifestyle products market, with a clear focus on tabletop, giftware and interior décor. For Fiskars Living business, the WWRD acquisition creates a strong presence in the U.S., and will further enhance Fiskars' market position in Europe and Asia-Pacific.