LINCOLNSHIRE, Ill.—The basic paper clip, a simple twist of steel wire typically retailing for about a penny, has dominated its market for more than a century.

Now ACCO Brands Corp., based in this Chicago suburb and dubbing itself a "global powerhouse of leading office-products brands," hopes Americans will embrace a snazzier clip costing more than 16 times as much.

"This is our reinvention of the paper clip," says Carol Lucarelli, a brand manager at ACCO, as she hands a visitor a sheaf of paper held together by stainless steel clamps called Klix in shiny hues of red, purple, green, blue and "classic silver." Klix, resembling small hair barrettes, make a snapping sound when closed. "It's very fun," says Ms. Lucarelli. "It's this clickiness."

Though the U.S. long ago ceded manufacturing of such items as cellphones and computers to lower-cost producers, it still prevails in paper clips. Most of the estimated 11 billion sold each year in the U.S. are made domestically. But innovation has become rare.

Klix went on sale in June at certain office-supply stores. ACCO declined to disclose sales but says the product is "ramping up nicely."