Sunscreen and makeup: a game of compromise, imperfection, skin damage and expensive products. 23-year-old Sophia Hutchins, who calls Caitlyn Jenner her “cheerleader,” aims to win that game with Lumasol, the FDA-approved odorless SPF 50+ sunscreen mist engineered to be applied after makeup. With a $3 million seed round from Peter Thiel’s Founders Fund and Greycroft Ventures, she’ll be able to expand her team of 30 employees and bring the product to market in early 2020.
“It’s SPF millennialized,” says Hutchins, surrounded by her three-person media team and director of operations in the Jersey City, New Jersey Forbes office. “We are a health and tech company and [sun protection] is an extraordinarily unaddressed health issue that we’re trying to attack.”
Hutchins, who lives in LA, is a first-time founder but no stranger to cosmetic titans. As a close friend of Caitlyn Jenner, Hutchins witnessed the Olympian-turned activist/socialite’s battle with skin cancer in 2018. And because of her closeness with Caitlyn Jenner, she spends significant time learning from Kylie Jenner and Kim Kardashian, who have built billion-dollar makeup brands Kylie Cosmetics and KKW Beauty from Instagram.
“I have a really good relationship with all of them,” says Hutchins. “What Kylie [Jenner’s] done is amazing. I admire that she’s been able to convert fans, likes and shares into buys—and she works nonstop.”
Hutchins transitioned to a woman as a freshman at Pepperdine University and graduated from the University in 2018 with a degree in economics, with the intention of going into investment banking rather than entrepreneurship. During her senior year, she lamented with her friend, the daughter of Kiehl’s founder, about the impossibility of flawless makeup and sun protection.
From that conversation, she was advised by Nick Drake, CMO of T-Mobile and worked with big three consulting firm to develop a sunscreen product for makeup wearers. Lumasol was born, and with her board of scientific advisors from UCSF, the U.S.-manufactured product was approved by the FDA as an over-the-counter product. The recyclable product will protect from 98% of UV and UB rays and will be sold direct-to-consumer via subscription, according to Hutchins.
“You could compare it to Dollar Shave Club or Harry’s,” says Hutchins. “I know this business is going to be a success.”
For Ian Sigalow, founder of Greycroft Ventures, who has previously led the firm’s investments in Venmo, Braintree and Shipt, he saw the potential for the product from the hundreds of dollars his family of five spends on goopy sunscreen every single year. “There’s an opportunity to do what Juul did for the cigarette category by changing the delivery mechanism and changing the formula somewhat to win really big market share,” says Sigalow, noting that the design firm behind Juul also designed Lumasol, as a conscious effort habituate healthy habits after doing the opposite with the e-cigarette giant.
Lumasol will not be the only ‘mastige’ post-makeup sunscreen spray on the market. Semi-premium sunscreen brand Supergoop retails a SPF 50 setting spray product at $12 per ounce. Coola, Kate Sommerville, Shisheido and Ulta Beauty, among others, offer makeup setting sprays with SPF.
So what compelled Founders Fund send Hutchins a term sheet within an hour of her pitch presentation? “Founders Fund invests in founders, first and foremost. Sophia [Hutchins] was such an incredibly strong person when she came in and pitched us on her vision.” says Cyan Bannister, the partner at Founders Fund who led the round. “She’s identified an underserved market and a product that people would want. The fact is that she can leverage her connections to power the distribution behind the product.”
Lumasol’s packaging is also a huge draw for the investors. The bottle changes color when exposed to UV and UB rays, letting its owner know it’s time for another spritz, and habituating reapplication. Additionally, the product’s design and functionality make it highly ‘grammable—a deliberate strategy for Hutchins’ plan to rely heavily on Instagram influencer marketing, with probable Jenner/Kardashian spots, to market the product.
“There’s obviously precedent with the Jenners in the skincare industry. That was not lost on me when we made the investment,” says Sigalow. “One of our theses around next generation brands is: If you attach an influencer with a huge following to a consumer product, it’s like having your own media channel, so Lumasol’s starting on third base—they’re going to take off.”
In preparation for Lumasol’s Q1 2020 rollout, Hutchins is hiring an “extraordinarily experienced CMO,” adding to the “hundreds” of user tests, and developing her influencer, popup and outdoor event event strategy. “I have a social obligation to give people a product that can seamlessly fit into their lives and also save their lives,” she says.
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Source: 23-Year-Old Sophia Hutchins, Jenner Family Insider, Raises Millions For Post-Makeup Sunscreen Mist
Sophia Hutchins is an entrepreneur at the crossroads of health, beauty and tech. She is both founder and CEO of Luma Suncare Inc. She successfully closed her first round of venture funding in March 2019. She is busily preparing for the launch of her company. Hutchins is an outspoken advocate for women and equality in the workplace. People can often find her speaking to groups within corporate America and her favorite of all groups to speak with are entrepreneurial women. Prior to starting her venture, she served as CEO of the Caitlyn Jenner Foundation.
Hawaiian barbecue is no-frills and mixed, just like the Filipino-Chinese entrepreneur who made it mainstream: Eddie Flores, Jr.
Hawaii’s quintessential plate lunch of meat, macaroni salad and two scoops of white rice originated in the late 1800s as the midday meal for workers on Hawaii’s pineapple and sugar plantations, with immigrants from Japan, China, the Philippines, Korea and Portugal adding their food traditions. Hence, you’ll find katsu, char siu, adobo, Korean fried chicken and Portuguese sausage on the menu, in addition to native Hawaiian dishes like Kalua pork.
It seems only fitting then that L&L Hawaiian Barbecue was recently rated by Entrepreneur magazine as the top Asian fast food franchise in the U.S. The Honolulu-based restaurant chain serves affordable island comfort food at more than 200 locations from California to Florida, all of which are independently owned, mostly by immigrants. (Panda Express, in contrast, owns all of its outlets.) L&L also has two locations in Japan, with Flores open to more Asian expansion. The company recorded $95 million in sales in 2018.
And the founder and CEO is an immigrant himself.
I met Flores at an L&L inside a Walmart in downtown Honolulu. He’s ambitious and a dreamer, “cocky,” as his wife would say. He’s working to have an L&L in every Walmart on the mainland.
Flores’ family moved to Hawaii from China when he was a youth, the eldest boy of seven children. His Filipino father, a musician, and Chinese mother, have sixth-grade educations and were part of the middle class in Hong Kong. In Hawaii, his father worked as a janitor and his mother a restaurant cashier and dishwasher to make ends meet.
That’s what sparked Flores’ entrepreneurial spirit. “I told myself I’m not going to be poor,” he said.
But it wasn’t easy for the 72-year-old, who had a learning disability and repeated grades four times in China. Still, he learned to be aggressive and business savvy, working in banks and then real estate. In a few years, he became a millionaire and bought a restaurant for his mom in 1976, which would eventually be the first L&L, and the birth of a food empire.
Before poke became Hawaii’s hottest food trend, Flores popularized Spam musubi, a handheld snack of seaweed-wrapped grilled luncheon meat on top of rice. He says he was serving brown rice on his menu before most of the mainland U.S. knew what it was.
“No one ever took a concept of Hawaii to the mainland and made it. We were the first one,” Flores said. “We’re the only true Hawaiian brand serving Hawaiian food.”
To stay true to the brand, potential franchisees spend time in Hawaii to get to know the local icon’s “Aloha spirit.”
His upbringing made him a long-time champion of immigrants, especially the Filipino community in Hawaii. And while he made his fortune in real estate and franchising, he says his real legacy is building the 50,000-square-foot Filipino Community Center, the largest cultural center outside the Philippines. It aims to support the 300,000 or so Filipinos living and working in the state–about a quarter of the local population–with health and educational services as well as entrepreneurial and business incubation. Furthermore, about 60% of the new immigrants in Hawaii are from the Philippines.
“It’s for the pride of the Filipino. Filipinos are relegated to the lowest socioeconomic status here, like janitor, dishwasher,” Flores said. “I believe in political empowerment for the community and teaching them entrepreneurship so they can own their own businesses.”
Many of the Filipinos in Hawaii have little education, so it will take two to three generations to move up, Flores added. “Of the 1,200 board of directors of publicly traded companies here, only three are Filipino.”
Flores has also brought Hawaiian business delegations to the Philippines to explore opportunities with the motherland. But he admits cultural differences make it difficult to do business there. Entrepreneurship doesn’t come naturally for many Filipinos, he explains. Even in the United States, where immigrants grow up believing in the American dream, starting a business requires taking risks and a willingness to fail–an approach that runs counter to the more cautious culture of many Asians.
It’s a reality Flores is working to change, especially as an immigrant who overcame poverty and adversity to become one of the most successful Asian food franchise operators in the U.S.
“We are first-generation immigrants,” he said, “and since we’ve been able to achieve the American dream, I want to give back.”
Source: How This Entrepreneur Built A Top-Rated Asian Fast Food Empire
Edit: I honestly can’t believe I posted this garbage video lol. Forgive the low quality. I intend on replacing this video with something much better. But thank you for those who watched through this atrocity haha. I went into L&L Hawaiian BBQ in Las Vegas to see what it was all about! Check it out :D. Follow me on social media!! Facebook: www.facebook.com/bigpileofwesley Twitter: www.twitter.com/bigpileofwesley Instagram: www.instagram.com/bigpileofwesley Snapchat: bigpileofwesley
At 70, Singapore’s “popiah king” Sam Goi still has his sights set on expanding his food and property empire. After earning his royal sobriquet—and his $2 billion fortune—making the paper-thin crepes used to wrap spring rolls known as popiah, he is now branching out. He wants to invest in meat substitutes and other special-diet foods, and play angel investor to food startups like the one he started in 1977, Tee Yih Jia Food.
More On Forbes: Singapore’s Richest 2019: At 101, The World’s Oldest Billionaire Has No Plans To Slow Down
Goi knows something about building a brand. Privately held Tee Yih Jia (TYJ) today exports Asian food items such as spring rolls, glutinous rice balls and samosas to more than 80 countries. It’s now in the process of doubling its production capacity with a new facility due for completion in 2021.
Goi’s Singapore-listed development company GSH, however, has hit a lull. After a S$75 million windfall in 2017 from its sale of private-equity unit Plaza Ventures, net profits dropped 93% in 2018 to S$6 million on a 9% decline in revenues. That’s pushed GSH’s shares down 13% in the past year, helping pull Goi’s fortune down by $100 million.
Goi arrived in Singapore in 1955 when he was six years old with little but the shirt on his back after his family fled China’s Fujian province in a small boat. Goi dropped out of high school, but used his training in a repair shop to gain a toehold in the food industry.
With S$450,000 borrowed from a bank and his father, he bought an underperforming food company and overhauled it, increasing production from 3,200 popiah skins a day to 25,000. In 1980, he brought in technicians to design the world’s first automated system for making spring roll pastries at the blistering rate of 30 million a day. He then branched out, pumping out fortune cookies, flatbread and samosas.
More on Forbes: Singapore’s Richest 2019: Daryl Ng Takes His Family’s Sino Group Into The Future With 5G, AI
Goi returned to his hometown in Fujian in 1985 and built his first China factory there, later adding a frozen-food facility, a brewery and a vinegar plant in other parts of China. Goi also snapped up land in China’s second-tier cities long before China’s property boom. Most of Goi’s exposure to property, though, has come through GSH, where he now has a nearly 60% stake.
TYJ also has a subsidiary in Yangzhou focused on developing residential and commercial properties in surrounding Jiangsu province. But Goi’s plans for TYJ are more food-related. Goi’s daughter Laureen, who runs TYJ Food Manufacturing, has been building a state-of-the-art food factory nearly four times larger than the present one in Singapore, with the latest in automation, including driverless vehicles.
The new facility will also have a laboratory developing new products, and TYJ may even invest in and incubate promising food ventures, furthering Goi’s legacy as a foodstuff innovator.
Correction: the original version of this story incorrectly stated Goi’s late son Ben was involved in TYJ’s factory expansion. It is his daughter Laureen. Also corrected is that the new facility is an expansion not a replacement of the existing manufacturing plant.
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Pamela covers entrepreneurs, wealth, blockchain and the crypto economy as a senior reporter across digital and print platforms. Prior to Forbes, she served as on-air foreign correspondent for Thomson Reuters’ broadcast team, during which she reported on global markets, central bank policies, and breaking business news. Before Asia, she was a journalist at NBC Comcast, and started her career at CNBC and Bloomberg as a financial news producer in New York. She is a graduate of Columbia Journalism School and holds an MBA from Thunderbird School of Global Management. Her work has appeared in The New York Times, Washington Post, Yahoo, USA Today, Huffington Post, and Nasdaq. Pamela’s previous incarnation was on the buy side in M&A research and asset management, inspired by Michael Lewis’ book “Liar’s Poker”. Follow me on Twitter at @pamambler
Source: Singapore’s Richest 2019: ‘Popiah King’ Outfits Factory Buildout For Meat Alternatives
First Runner Up for Singapore Heritage Short Film Competition 2018
Pat Brown isn’t an inventor so much as a reinventor. He sees something that works, but not well, and figures out how to do the same thing, only a lot better. And along the way, he’s reinvented himself into perhaps the most unlikely entrepreneur in Silicon Valley.
Brown trained as a pediatrician but, seeing that genetics figure prominently in diseases such as cancer, repurposed himself as a scientific researcher. Within a few years, he’d created something called the DNA microarray, a technology that has allowed scientists to better study genetic code. It was a breakthrough, and for most people that would be a career peak. Not Pat. In 2001, frustrated by limited worldwide access to scientific research, he co-founded the Public Library of Science, a radical revision of academic publishing.
A decade later, he saw a vastly greater inefficiency: meat. Raising and killing animals, he realized, is an environmentally expensive way to produce protein, demanding tremendous amounts of water, land, and energy. “There’s a $1.6 trillion global meat and poultry market being served by prehistoric technology,” he fumes. So Pat, then at Stanford, ditched academics for startup life. Today, he’s the founder and CEO of Impossible Foods, a company that’s reinventing meat.
Unlike entrepreneurs who tally their startups like animal heads mounted in a man cave, Brown wasn’t looking to add founder to his résumé. “I couldn’t have imagined myself doing this,” he told me over a lunch of Impossible burgers in Redwood City, California. “But the most powerful, subversive tool on earth is the free market. If you can take a problem and figure out a solution that involves making consumers happier, you’re unstoppable.”
And so, in 2011, and nearing 60, he launched Impossible Foods. First, he needed investors. “My actual pitch, if you showed it to a business school class, would’ve had people rolling in the aisles because it was so amateurish,” he admits. But he could tell potential investors, with complete conviction: What I am proposing is going to make you even more obscenely rich than you already are. “I didn’t say it in quite those words,” he notes, “but I knew that this was something that was going to be incredibly successful. And that worked.”
Oh, yeah. Starting with a $9 million round in 2011, Impossible has raised nearly $750 million, including $300 million in May. It is now valued at more than $2 billion.
To say Pat Brown is unconventional is to say that cows moo. But it’s important to celebrate him, because, though few of us are as smart, many of us are possessed of the same inspiration. We just lack the conviction that we’re the entrepreneurial type. Yet many of the best founders don’t have an MBA–what they have is a sense of opportunity, a hunch that they’re on to something the rest of the world hasn’t quite spotted. Something they can’t let pass by. I was inspired by Pat to take my own leap away from a secure job and hatch my own startup.
Part of his success is that he’s honest about his capabilities. He has hired well, including a terrific operations team and an ace CFO whom he calls an “investor whisperer.” How did he know he could survive moving from scientist to CEO? He figured that, given the scope of the meat problem (massive and global), few people would actually go about trying to solve it.
He’s not a guy who places limits on himself, and that’s his message. “There’s a big phenomenon of people self-censoring, worrying about the imposter syndrome,” Brown says. “They say, ‘Someone has to do this, but I’m not the guy,’ or, ‘I’m not qualified.’ People limit their own opportunities.”
He pauses to take a big bite of burger. “There’s no road map for what we’re doing,” he continues. “But someone has to solve this problem.” He figures it might as well be him.
Source: Impossible Foods Founder Pat Brown Didn’t Want to Be an Entrepreneur, But His $2 Billion Idea Was Hard to Resist | Inc.com
Impossible Foods looks to expand as the demand for meat alternatives continues to grow. The company is a leader in the food-tech industry producing plant-based foods that look at taste like meat. David Lee, CFO of Impossible Foods, joined CBSN to talk about the company and the emergence of the meatless market. Subscribe to the CBS News Channel HERE: http://youtube.com/cbsnews Watch CBSN live HERE: http://cbsn.ws/1PlLpZ7 Follow CBS News on Instagram HERE: https://www.instagram.com/cbsnews/ Like CBS News on Facebook HERE: http://facebook.com/cbsnews Follow CBS News on Twitter HERE: http://twitter.com/cbsnews Get the latest news and best in original reporting from CBS News delivered to your inbox. Subscribe to newsletters HERE: http://cbsn.ws/1RqHw7T Get your news on the go! Download CBS News mobile apps HERE: http://cbsn.ws/1Xb1WC8 Get new episodes of shows you love across devices the next day, stream CBSN and local news live, and watch full seasons of CBS fan favorites like Star Trek Discovery anytime, anywhere with CBS All Access. Try it free! http://bit.ly/1OQA29B — CBSN is the first digital streaming news network that will allow Internet-connected consumers to watch live, anchored news coverage on their connected TV and other devices. At launch, the network is available 24/7 and makes all of the resources of CBS News available directly on digital platforms with live, anchored coverage 15 hours each weekday. CBSN. Always On
A Thailand supermarket came up with a genius way to reduce plastic packaging: wrap its produce in banana leaves instead.
The banana leaf packaging comes from the Rimping supermarket in Chiangmai, Thailand. A real estate company in Chiang Mai, Perfect Homes, posted photos of the banana leaf packaging to their Facebook page and it quickly gained widespread attention.
Of the 9 billion tonnes of plastic ever produced, only 9% has been recycled. This, along with projections of rapidly increased plastic manufacturing, has led to global attention to single-use plastics.
The United Nations Environment Programme estimates that by 2050 there will be 12 billion tonnes of plastic in landfills, the environment, and oceans. Of this waste, cigarette butts, plastic drinking bottles, food wrappers, and plastic grocery bags are the biggest contributors.
Global plastic waste generation from 1950 to 2015.
United Nations Environment Programme
The use of banana leaves instead of plastic for packaging vegetables is a great way to reduce single-use plastic. While it looks like they use some plastic for adhering the label, this method significantly reduces the amount of plastic required. They are simply wrapped in a banana leaf and secured using a flexible piece of bamboo. Banana leaves are a great alternative to plastic as the leaf is large, thick and supple enough to be folded.
One thing to consider is the relative cost of plastic versus banana leaves. In tropical locations, banana leaves are readily available locally and could be acquired for free depending on the quantity needed. In more temperate locations the use of banana leaves could be significantly more expensive than plastic. However, using local biodegradable products could be a good alternative in locations where bananas don’t grow.
The use of banana leaves to wrap food in has a long history. In some tropical regions of Mexico, tamales are wrapped in banana leaves. Hawaiians use banana leaves during pig roasts to protect the pig from the hot lava rocks. They are also used to wrap sticky rice in southeast Asia.
Source: Thailand Supermarket Ditches Plastic Packaging For Banana Leaves
Hamburger Lane is a quarter-mile, palm-lined stretch of Baldwin Park, California, 30 minutes east of Los Angeles. Halfway down the block, a low-slung building covered in gray siding sits behind a security fence. Knowing what’s inside the little structure helps explain the street’s unusual name. It’s the top-secret corporate test kitchen for In-N-Out Burger, the iconic West Coast chain. Lynsi Snyder, the company’s billionaire president, hovers over a set of double fryers and stove-top griddles…….
Read more: https://www.forbes.com/sites/chloesorvino/2018/10/10/exclusive-in-n-out-billionaire-lynsi-snyder-opens-up-about-her-troubled-past-and-the-burger-chains-future/
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