Fenbo is a contract manufacturer of electric hair styling products based in Shenzhen, China. The company operates exclusively as an original equipment manufacturer for Spectrum Brands, producing hair straighteners, curling irons, curling wands, hair dryers, and trimmers sold under the Remington brand primarily in Europe and Latin America. Fenbo’s business model is defined by total customer concentration, as it derives its entire revenue from Spectrum Brands. This relationship has existed since 2006 but functions without a formal written contract or long-term supply agreement. Instead, Fenbo fulfills individual purchase orders with pricing negotiated annually on a cost-plus basis, factoring in raw material costs, labor, and order volume. Manufacturing inputs include plastics, motors, power cords, and heating elements sourced from Hong Kong and China. Fenbo manages all production at its Shenzhen facility, which has an annual capacity of approximately 3M units. The company’s growth strategy involves expanding its manufacturing capacity and strengthening its R&D capabilities. Fenbo also seeks to penetrate new geographic markets and diversify its customer base to mitigate its reliance on a single client. Beyond its core manufacturing business, the company holds a small investment in a U.S. venture fund.