00:00 this is peach fuzz panton's 2024 color
00:03 of the year it'll make headlines but
00:06 we're not going to talk about it a lot
00:07 in this video because selling colors is
00:10 not how the company makes money it also
00:13 doesn't make money selling paint or
00:16 color mixing Machinery or even color
00:20 itself what Pantone sells is something
00:23 much more abstract a promise of
00:26 uniformity so that the color peach fuzz
00:29 look the same whether it's printed out
00:31 on a billboard or a ceramic mug this
00:35 whole idea that you can sell consistency
00:38 is relatively new it's the brainchild of
00:41 this guy Lawrence Herbert aka the king
00:44 of color this is the economics of
00:49 Panton New Jersey 1956 recently
00:53 graduated chemistry major Lawrence
00:54 Herbert joined a small printing company
00:56 called Pantone as a part-time printer at
00:59 the time product packaging was less
01:01 consistent now we're used to seeing
01:03 products come in identical packaging
01:06 like all these blue Modello boxes but
01:08 panton's President says it didn't used
01:10 to be that way back when everything was
01:13 done over the phone it's really
01:15 difficult to say hey that's a it's kind
01:17 of like a cherry W but not as bright but
01:19 maybe slightly darker it's really hard
01:21 to actually convey that message for
01:23 example see these two camera boxes the
01:26 yellow on the right is brighter than the
01:28 one on the left codc says customers were
01:31 more likely to buy the lighter Yellow
01:32 Boxes logically thinking that the darker
01:35 boxes were older and therefore contained
01:37 older film customers didn't know that
01:39 the difference in color was due to the
01:41 fact that the boxes were printed at
01:43 different factories Each of which mixed
01:46 their own versions of Kodak yellow
01:48 Herbert recognized this was a problem as
01:51 he worked his way up the ranks at Panton
01:54 he became known for his expertise in
01:56 color chemistry and when he bought the
01:58 company in 1962 he had an idea to change
02:01 it from a printing company into
02:03 something entirely different that could
02:05 solve kodak's problems his team created
02:08 a set of formulas so every Factory
02:11 printed the packaging in the same color
02:13 for a lot of companies color is part of
02:16 their brand identity there's Tiffany and
02:18 they have that specific blue and it's
02:20 very important because we say oh that's
02:22 Tiffany blue we see the box and we go oh
02:24 you got me a Tiffany ring 67 years after
02:27 Herbert joined the company Pantone has
02:29 developed these formulations into over
02:31 10,000 colors so no one actually owns
02:34 color what we have is the IP of the
02:38 Panton color system which is a
02:40 collection of colors that we have
02:43 selected for its not just its beauty but
02:46 its reproducibility across different
02:48 formats matching colors across formats
02:50 is harder than it sounds but it's vital
02:53 for companies they may have um a color
02:56 in mind that they want to make sure that
02:58 can be reproduced across different
03:00 materials that they may be presenting
03:02 color whether it could be from U their
03:04 clothing line all the way to the
03:07 storefront all the way to the internet
03:10 representation on the website so say a
03:13 company wanted the same color on its
03:15 packaging and its magazine ads the ink
03:18 might look one way on cardboard and
03:20 another way on glossy paper so panone
03:24 would have to provide slightly different
03:26 formulas to make the colors look exactly
03:29 the same for example the cardboard
03:31 formula would be adjusted to a matte
03:33 absorbent slightly textured surface
03:36 while the formula for magazine paper
03:37 would be altered to account for the
03:39 shiny finish to ensure all colors look
03:42 the same Pantone has a rigorous Quality
03:45 Control process the company uses a tool
03:48 called the spectr photometer to compare
03:50 the same color on different surfaces so
03:52 Pantone would analyze reflected light
03:54 from the materials and generate a number
03:57 value based on that color then they'd
03:59 compare it to the number for the color
04:01 in their official index if the data
04:04 doesn't match they'd have to reformulate
04:07 yeah basically someone's out there you
04:08 know checking these cards to make sure
04:10 that the fabric that we've dyed are
04:12 within a certain Delta e difference
04:15 meaning that the color is consistent one
04:17 by one and it's highly it has to be
04:20 highly accurate Panton has done color
04:22 testing for over 10,000 colors which it
04:24 compiles into these color guides like
04:27 this 1964 version with which cover the
04:30 whole gamut or range of colors logged by
04:33 the company there are dozens of
04:35 different versions of the guide books
04:37 some are even made specifically for
04:38 certain companies about half of our
04:40 Revenue comes from the physical uh
04:43 guides that we have because there are so
04:45 many different formats of it they can
04:47 cost about $700 for this Essentials kit
04:50 to about $99,000 for a set of color
04:52 display Towers Panton says the guide
04:55 books generate the most Revenue it sells
04:57 them to designers marketers and artists
05:00 annually each year they're updated with
05:02 new colors your book is exposed to air
05:06 and it can oxidize and then what you see
05:09 in your book can visually change when
05:11 you look at it so then you won't
05:14 accurately know if that's the exact
05:16 color that you are looking for so for
05:19 that reason it is important to keep
05:21 getting fresh books so that you can view
05:24 them accurately Penton says the other
05:27 half of its Revenue comes from its
05:29 Consulting and Licensing and Digital
05:31 Services businesses Universal Studios
05:34 approached Pantone for the 2015 movie
05:36 Minions asking them to make a new yellow
05:39 it made this banana inspired Hue and
05:41 standardized it for the franchise banana
05:47 uh companies can trademark specific
05:50 colors so you can't say make and sell
05:52 your own competing products using
05:55 Tiffany blue but when it comes to all
05:57 the other colors in panton's guide books
05:59 so those who you know get their hands on
06:02 the color of course they can use the
06:03 color um but when we're communicating
06:06 colors between different people and this
06:09 is where the panone IP comes into handy
06:11 because can refer to a specific shade or
06:14 hue of a color through its name well the
06:17 majority of panton's Revenue comes from
06:19 those branches its well-known marketing
06:22 campaign might be what makes it a
06:23 household name 2024's peach fuzz is
06:27 inspired by warmth and Heat feeling a
06:30 panon spokeswoman said they anticipated
06:33 increased interest in self-care in the
06:35 next year which they felt the shade
06:38 represented we want to make sure that
06:40 our community of creatives and designers
06:42 you have a conversation about color
06:44 every year um at least once a year after
06:47 nearly 5 Decades of ownership Lawrence
06:49 Herbert's family sold Panton to x-rite
06:52 in 2007 the company makes color
06:54 measurement tools which help to cement
06:56 panton's status as a color Authority
06:59 just 5 years later x-r was acquired by
07:02 the danare corporation a life sciences
07:04 and Technology conglomerate in October
07:08 Panton and x-r spun off from danir with
07:10 11 other companies into a newly traded
07:13 company ver Alto Corp while Lawrence
07:16 Herbert could have never predicted
07:17 panton's Evolution his idea was a leap
07:20 forward for the marketing industry and
07:23 the World of Color and as products
07:25 advance from physical to digital Panton
07:28 scope will have to keep evolving when it
07:31 comes to color we want to make sure that
07:33 you know it's always going to be
07:35 consistent no matter where you are
07:37 whether it's in digital format where we
07:39 can continue to expand on that those
07:41 products and services or in different
07:43 types of physical format to help by our
07:46 customers and clients find the right
07:48 color and be able to execute those
07:50 colors the way that they want it to
