* Harry’s grew from 0 to 2 million customers in 3 years. Currently Harry’s is worth over $1.4B. The shaving market is slow to grow at 4.6%. The key to Harry’s success was to take market share away from competitors by creating an overwhelming amount of value for customers, employees, and society.
Ironbound Action: San Francisco based Salesforce.com, founded in 1999, was the first to introduce a new 1-1-1 philanthropic extension to the business model. The Salesforce Foundation is comprised of 1% equity, 1% employee time, and 1% of their product. Since their Initial Public Offering in 2004, Salesforce stock (CRM) has soared (adjusted for splits) from $4 to $160 today. The strong stock price performance reflects phenomenal revenue growth from approximately $100 million in 2004 to nearly $14 Billion in 2019. By being in business for more than just profits, holistic value creation continues to propel Salesforce as the world’s leading enterprise cloud ecosystem.
* Ford's domestic sales were around 2.6 million vehicles in FY 2018, with expectations to sell close to 2.7 million vehicles in FY 2019. Amazon ships 1.6 million packages per day in the US. Amazon’s Q3 revenues were $70B, up from $56B in Q3 last FY.
* Extending the life of clothing by three months reduces the carbon and water footprint by 5 -10 percent. Almost all clothing and textiles are recyclable and yet the average American throws away approximately 80 pounds of used clothing per year. More than 15 million tons of used textile waste is generated each year in the US. Approximately $400 Billion in merchandise was returned to retailers in 2018, most of which end up in landfills.
* With 3.3B smartphone users worldwide, AR is being positioned to be used and operated through mobile devices. The market size of the AR service market is expected to be worth $50B by 2024, but with the heaviest emphasis on AR maps. As retailers move into the AR space to sell products and provide customer experiences, that estimate will be multiplied.
Ironbound Action: Wegmans supermarket consistently ranks as one of Americas favorite supermarkets. They have grown from a single store, founded in 1916, to ninety-nine stores across six states with over 49,000 employees. Their success stems from excellence in community service, fulfilling the needs of employees, providing their best to customers, and pledging continuous improvements. As Wegmans expands into new markets, they convert new customers into loyal fans. Cool brands do more than just sell or solve a pain point, they create real positive meaning to all those around them.
*Wegmans is one of the largest privately-owned supermarket chains with annual revenues in excess of $9 Billion, which ranks them 28th in sales across top supermarkets in the US. They have the largest market share in the regions they operate in.
* In 2007 a handful of environmentalists created Aardvark Straws, to make sustainable ‘Made In USA’ paper straws. By 2016, their manufacturing facility was overwhelmed with orders and was subsequently bought out by Wellspring Capital to scale their facility and meet market demands.
** Companies such as Starbucks and McDonalds, as well as hospital systems nationwide have plans to transition from plastic straws to paper straws. The paper straw market is expected to experience year-over-year exponential growth for the next decade.
* 9.1B tons of new plastic has been manufactured, but only 9% of it has been recycled. This is a very alarming statistic. One million plastic bottled beverages are sold every minute globally. In the US only 10% of consumer plastic is recycled, compared to 25% in China, and 30% in Europe. In Denmark, the average person accumulates 4 plastic bags per year, versus an average of over 360 per person per year in the US.
** In the last FY, Ford has increased their revenue from $156B to $160B, with a current market cap around $40B.
* Apple’s revenue increased from $229B in FY 2017 to $265B in FY 2018. Apple Watch revenues are obscured in Apple’s reporting in an “Accessories” category that includes AirPod’s, a wildly successful millennial trendsetting product. In Apple’s most recent quarterly report, “Accessories” saw year over year growth from $3.73B to $5.53B for the most recent quarter.
* Since the announcement of the Disney Aspire program two semesters ago, Disney’s stock has gone up from $110 to ~$145 per share with a $260B market cap. Last fiscal year Disney reported nearly $60B in revenue.
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