It's a battle fought by the makers of inconspicuous little products that cost a fraction of a penny to produce—the ones that everyone knows and nobody thinks about, but which represent more than an estimated $10 million in annual sales. Insiders describe the turf as the bakery bag closure and reclosure market; this is the battle of the plastic clip vs. the twist-tie. ...
"I'll be sitting next to someone on an airplane, and the first comment is always, 'You make your living out of that one little clip?'" says Hal Miller, Kwik Lok's vice president of sales.
"Then they think for a second and say, 'Well, I guess somebody has to make 'em.'"
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Correction: The original Businessweek story incorrectly stated that this is a $10 billion market (and we perpetuated that error by quoting from the story.) Businessweek has since corrected the error.