Category: Achievements In Business

EOS- Stiff Competition for its Predecessors

If you’re sick of the same old Chapstick and want something new to try, then you’ll be excited to know that there’s a new oral care product in town. One that offers numerous tantalizing flavors and comes in a cute, pastel-colored orb.

EOS, or Evolution of Smooth, orbs are not your usual product. EOS lip balm will delight all five of your senses, and it is easy to find in the bottom of your purse or bag, thanks to its unique shape. EOS has grown to be a $250 million company that has become the second best-selling lip balm just after Burt’s Bees, and has even wedged out Chapstick and Blistex. EOS is projected to reach $2 billion by 2020, thanks to the demand for organic and natural products like EOS, https://evolutionofsmooth.ca/.

Sanjiv Mehra, Johnathan Teller, and Craig Dubitsky (who is no longer a part of the company) launched EOS nearly a decade ago. They discovered that lip balm is primarily used by women and they have made their Target audience to be Millennial women aged 25 to 35. Mehra believes that the products that women use every day should be enjoyable and that is exactly what EOS has become-an enjoyable product for women that make them smile every time they use it.

EOS has become very popular on the social media platform and just one picture of a brand-new EOS flavor can easily bring in over 40,000 likes.

It was not easy to get the EOS product on the market, even though it is an innovative product. But they eventually did and EOS is now in big stores like Target, Walmart, Costco and Walgreens. Mehra and Teller owe it all to their backgrounds and experience of working at major corporations. Their approach of using their entrepreneurial skills and discipline has really paid off.

Don Ressler – The Entrepreneur Who Transformed an Online Subscription Service to a Potential World Leading Brand

In just 15 years, Don Ressler has created a mini-empire that is ready to take on the world. If recent rumors are true, his company, Fabletics will open more than 100 stores in the coming two years, making it one of the largest brands related to fitness clothing. In fact, the transformation of Fabletics and other companies in the portfolio from online subscription service to one of the most recognizable brands in the physical space is a testament to the vision of Don Ressler.

Early Years

One of the first companies that Don oversaw was FitnessHeaven. His experience from operating the online store culminated into another lucrative business, Alena Media, an eCommerce and performance media company. The unprecedented success enjoyed by Alena Media was noticed by InterMix, who bought the profit generating platform. However, Don Ressler and his partner, Adam Goldenberg were not satisfied with the focus of InterMix Media. Hence, they started yet another online business, Intelligent Beauty, which subsequently gave rise to popular online subscription service brands such as DERMSTORE and SENSA. Catering to cosmetics and skincare sector, both these online stores have garnered great interest from investors and subscribers. Despite the fact that no publicly available figures are available for DERMSTORE and SENSA, various research sources indicate that both these brands are highly profitable.

Initiation of JustFab

Banking on his success, Don Ressler initiated yet another subscription based service, JustFab. Unlike his previous ventures, one of the primary objectives of JustFabs was to form an independent entity that could attract investors on a stand-alone basis. As such, JustFab utilized its existing subscribers to acquire kids online subscription service, JustKids. Recognizing the profitable decisions, the company also bought JustShoes. Both these online subscription stores not only helped JustFab increase its customer base, but also provided opportunity for a large number of parents, in the existing subscriber list, to get access to more high-quality products.

 

See: http://www.matrixpartners.com/entrepreneur-stories/adam_goldenberg/

The Era of Expansion

In 2013, JustFab launched its crowning achievement, Fabletics. The athletic wear brand is marketed by the famous celebrity, Kate Hudson. As such, Kate actively models for the brand. Just a year earlier, Fabletics also opened its first physical storefront combining online and off-line operations. In just over 12 months, six other Fabletics stores were opened to the public in various major shopping centers across the United States. As stated, it is rumored that the company will also open another 100 stores in the coming years making it one of the largest athletic wear companies in the world.

Steve Murray’s Immeasurable Contribution to CCMP Capital

CCMP Capital is a private equity firm dealing with leveraged buyouts. The firm mainly invests in retail, consumer and services, industrial, media and telecom, and financial service industry. In the retail, consumer and services sector, the firm focuses on direct marketing and specialty retail. In the media and telecom investments, its focus is on consumer and trade publishing, broadcasting, content and programming, wire line and wireless communication sectors. Within the industrial sector, the firm makes investments in manufacturing and distribution.

CCMP Capital was initially formed as Chemical Venture Partners in 1984. It acquired the chase bank of Manhattan in 1996 changing its name to chase capital partners. Then there was the acquisition of JP Morgan &co that led to another change of name to JP Morgan Partners. A section of the JP Morgan left in a span out that occurred in 2005 after the acquisition of one bank. At this point, a reconsolidation of the company was done renaming it CCMP (Chemical, Chase, and JP Morgan Partners.)

Due to its visionary management team and sound economic plans, CCMP continues to earn itself high investments and significant support from its various stakeholders. The firm is currently investing and controlling some of the notable companies like AMC Entertainment, Berry Plastics, Aramark, Bill Barret Corporation, Medmack, Inc, and Pinnacle Foods.

Through CCMPs formation stages many leadership transitions have been experienced. But the most significant of all is the reign of Steve Murray. Steve served the company since 1989, all through in the affiliate firms till 2015 when he left due to health related issues. Even after his departure the firm is still fondly referred by many as Steve’s CCMP Capital. He played a crucial role in consolidation and formation of CCMP after the company’s spin-out. Steve was named the company’s CEO in 2007. Steve has led many significant achievements in the company.

During Steve Murray‘s tenure, the company rose to over $16 billion value of buyout. The company also expanded into sectors such as industrial scope, consumer retailing, healthcare systems and also the chemical and energy sector. It is during Steve’s tenure that CCMP was ranked 17th among the largest private equity firms in the world. CCMP has more than 50 employees and an extensive network of offices in London, New York, Tokyo in Japan and Hong Kong in China.

Apart from being an investor, Steve was involved in many charitable and philanthropy activities. He served the Boston College board of trustees as the Vice Chairman, founded the Make A Wish Foundation and also supported the Columbia Business School and the Stamford Museum. Steve Murray according to Fortune.com died in 2015 at the age of 52. He left behind his wife Tami Anne Monti to whom he was married for 29 years and four children.