HiSmile set for $100m turnover with new teeth whitening formula
The young rich-listers behind a Gold Coast-based teeth whitening business have rejigged their formula as they chase down a $100 million-a-year revenue target.
Business
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MULTIMILLION-DOLLAR Gold Coast company HiSmile has today launched its biggest change to its teeth whitening formula since 2014, with global expansion on the horizon as it heads into a forecasted turnover of more than $100 million.
The company, started by Nik Mirkovic and Alex Tomic in 2014, today launched its newest change to its kit, which comes in three gel syringes activated by an LED light on a mouthguard.
“We’re always looking at new ways to design the best products for our customers, this new formula is exactly that,” Mr Mirkovic said.
“It’s our best whitening formulation yet and we think customers are going to be very pleased with the update.
“We recognised the customer pain points in teeth whitening, which lead to us creating safe and effective whitening and oral care products for customers to use at home.”
Mirkovic and Tomic made Forbes’ Under 30 Rich List in 2018, a year after they made their debut on the Australian Financial Review’s Young Rich List.
In 2018, their combined wealth was estimated to be $46 million, with the company now predicted to make a $100 million turnover for the 2020 financial year.
“The brand continues to expand internationally, with Australia, the United States and The United Kingdom being our top three markets,” Mr Mirkovic said.
“Our international operation is all run from our Gold Coast headquarters, which has resulted in growth in local employment here at HiSmile.
“We are forecasted to turnover greater than $100 million in this financial year and we’re on track to have 70 staff by the end of 2019.”
The pair started the company with $20,000 and used high-profile influencers such as Kim Kardashian and Kendall Jenner to expand the company’s profile globally.
“It’s humbling to think back from where we started, to where we are now,” he said.
“When we look at success, for us it comes down to creating products that the customers love, seeing the team grow, and seeing how passionate everyone is to build a global brand from the Gold Coast.
“I think it’s that passion that’s helped upscale to where we are now.”
Originally published as HiSmile set for $100m turnover with new teeth whitening formula
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