
<PAGE>   1


                     SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C.  20549


                                  FORM 8-K


                               CURRENT REPORT


                   PURSUANT TO SECTION 13 OR 15(D) OF THE
                     SECURITIES AND EXCHANGE ACT OF 1934


      DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) JANUARY 27, 1997
                                                        ----------------

                       WINDMERE-DURABLE HOLDINGS, INC.
                       -------------------------------
           (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


                                   FLORIDA
                                   -------
               (STATE OR OTHER JURISDICTION OF INCORPORATION)


       1-10177                                           59-1028301
    ---------------                                   -----------------
(COMMISSION FILE NUMBER                       (IRS EMPLOYER IDENTIFICATION NO.)


                       WINDMERE-DURABLE HOLDINGS, INC.
                           5980 MIAMI LAKES DRIVE
                           MIAMI LAKES, FLORIDA        33014
         ---------------------------------------------------
             (ADDRESS OF PRINCIPAL EXECUTIVE OFFICE) (ZIP CODE)





     REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE     (305) 362-2611
                                                            --------------
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ITEM 5.

        On January 27, 1997, Salton/Maxim Housewares, Inc. ("Salton/Maxim") and
        New M-Tech Corporation ("NewTech"), each of which is fifty percent
        (50%) owned by Windmere-Durable Holdings, Inc. ("Company"), each
        entered into a Purchase, Distribution and Marketing Agreement with the
        Kmart Corporation ("Kmart") ("Purchase Agreement" and, together,
        "Purchase Agreements").  The Company entered into Guarantees for the
        performance of each of Salton/Maxim and NewTech in connection with the
        Purchase Agreements.  In the Purchase Agreements, Salton/Maxim and
        NewTech granted Kmart certain rights to purchase, distribute, market
        and sell certain products in association with the White-Westinghouse(R)
        brand name, which has been licensed to Salton/Maxim and NewTech.  The
        Agreements constitute supply contracts with Kmart, pursuant to which
        Salton/Maxim and NewTech will supply Kmart, either through the Company
        or other manufacturers, with small kitchen appliances, personal care
        products, heaters, fans, electric air cleaners and humidifiers, and
        audio, video, and telephone products, all under the
        White-Westinghouse(R) brand name.  Kmart will be the exclusive discount
        department store to market these White- Westinghouse products.

        The Company expects that purchases of White-Westinghouse products by
        Kmart will contribute significantly to the sales of Salton/Maxim and
        NewTech.

        The matter discussed in the immediately preceding paragraph relating to
        expected benefits from the Salton/Maxim and NewTech supply contract
        with Kmart is a forward-looking statement that is subject to certain
        risks and uncertainties that could cause actual results to differ
        materially from that set forth in the forward-looking statement.  These
        factors include: economic conditions and the retail environment; the
        timely development, introduction and customer acceptance of
        White-Westinghouse(R) products; competitive products and pricing;
        dependence on foreign suppliers and supply and manufacturing
        constraints; cancellation or reduction of orders; and other factors
        detailed elsewhere from time to time in the Company's filings with the
        Securities and Exchange Commission.

        The foregoing description of the Agreements and the Guarantees, and the
        transactions contemplated by such documents, does not purport to be
        complete and is qualified in its entirety by reference to each of such
        documents, copies of which are filed as exhibits hereto.  Because the
        Agreements are subject to a Revised Application for Confidential
        Treatment by the Company filed separately with the Commission on the
        date hereof, the Company is providing the Agreements with the portions
        for which confidential treatment is requested blacked out.





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EXHIBITS

         10.1    Purchase, Distribution and Marketing Agreement by and
                 between Salton/Maxim and Kmart Corporation dated
                 January 27, 1997.

         10.2    Purchase, Distribution and Marketing Agreement by and
                 between NewTech and Kmart Corporation dated January
                 27, 1997.

         10.3    Guarantee dated January 27, 1997 from Windmere-Durable
                 Holdings, Inc. (on behalf of Salton/Maxim).

         10.4    Guarantee dated January 27, 1997 from Windmere-Durable
                 Holdings, Inc. (on behalf of NewTech).





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                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                            WINDMERE-DURABLE HOLDINGS, INC.




Date:  March 31, 1997                       By:/s/ Harry D. Schulman
                                               -------------------------------
                                                Harry D. Schulman





