Thread
A 10 year corporate veteran quit to build a $700 MILLION pimple care brand.
The crazy part?
She bootstrapped it in just 5 years.
This is her story 👇
The crazy part?
She bootstrapped it in just 5 years.
This is her story 👇
1/ @jurhyu's family immigrated from Korea to Seattle when she was 3.
Her dad was an entrepreneur, working as a log exporter and broker.
Sourcing resources in WA to his clients in Korea.
He parlayed his profits into buying a series of multi-family homes ...
Her dad was an entrepreneur, working as a log exporter and broker.
Sourcing resources in WA to his clients in Korea.
He parlayed his profits into buying a series of multi-family homes ...
2/ Watching her dad operate growing up, instilled the urge to build her own business one day.
Yet, after leaving Brown, she took the safer path of attending Business School and working in brand management.
But she was soon given the chance to solve an issue she faced herself...
Yet, after leaving Brown, she took the safer path of attending Business School and working in brand management.
But she was soon given the chance to solve an issue she faced herself...
3/ Ever since she was a teenager, she would consistently experience unfortunate breakouts.
All the traditional products (pink creams + white creams) actually left her skin in worse condition.
Her skin was always left dry, irritated, and red.
Until a fateful career move ...
All the traditional products (pink creams + white creams) actually left her skin in worse condition.
Her skin was always left dry, irritated, and red.
Until a fateful career move ...
4/ In 2013, Samsung recruited Ju to work in their Seoul office.
At the time, her adult acne rebounded.
She saw many people on the streets, subways, and buses wearing patches.
She asked around and found out that they were Hydrocolloid patches.
She tested them out ...
At the time, her adult acne rebounded.
She saw many people on the streets, subways, and buses wearing patches.
She asked around and found out that they were Hydrocolloid patches.
She tested them out ...
5/ and found that they were the solution she had always been looking for:
• Hydrated the skin
• Effective and easy to apply
She quickly realized there was an opportunity:
• Not sold in retail stores in US
• Most brands were in Korean/Chinese
She got to work ...
• Hydrated the skin
• Effective and easy to apply
She quickly realized there was an opportunity:
• Not sold in retail stores in US
• Most brands were in Korean/Chinese
She got to work ...
6/ By late 2013 she was ready to pull the trigger.
She had:
• Sourced the manufacturer + supplier
• Hired a designer to create branding + packaging
But in her words: she chickened out.
It was too daunting to do alone.
The time + $$ she would need to invest was too high ...
She had:
• Sourced the manufacturer + supplier
• Hired a designer to create branding + packaging
But in her words: she chickened out.
It was too daunting to do alone.
The time + $$ she would need to invest was too high ...
7/ She took a job back in the US and left her dreams of building a brand behind.
But the idea wouldn't stop nagging her.
She would bring it up at every dinner and social event she would attend.
That was ultimately how she met her co-founders ...
But the idea wouldn't stop nagging her.
She would bring it up at every dinner and social event she would attend.
That was ultimately how she met her co-founders ...
8/ In 2017, she met Dwight and Andrew Lee.
They shared her vision and experiences that these patches could help millions of people.
And now, she could have co-founders to help her shoulder the workload.
Hero was formed and incorporated ...
They shared her vision and experiences that these patches could help millions of people.
And now, she could have co-founders to help her shoulder the workload.
Hero was formed and incorporated ...
9/ Two key lessons from her corporate brand management days stuck with her while building Hero:
1. 100 Calorie Snacks was created from findings from a focus group:
Many women said they were sorting triscruits into small bags to help with portion control.
The lesson ...
1. 100 Calorie Snacks was created from findings from a focus group:
Many women said they were sorting triscruits into small bags to help with portion control.
The lesson ...
10/ Capitalize on existing behavior.
Ju was stalking Skincare subreddits from 2015-2017.
She saw that people were buying large Hydrocolloid bandaids
and cutting them into small pimple covers.
People wanted the product so bad they made custom solutions.
Ju was stalking Skincare subreddits from 2015-2017.
She saw that people were buying large Hydrocolloid bandaids
and cutting them into small pimple covers.
People wanted the product so bad they made custom solutions.
11/ Lesson 2: DiGiorno's, the Pizza Brand, considered their category frozen pizza.
1 year later, they reframed their category to go against pizza delivery in general.
They created the slogan "It's not delivery, it's DiGiorno's" which allowed to rapidly expand market share ...
1 year later, they reframed their category to go against pizza delivery in general.
They created the slogan "It's not delivery, it's DiGiorno's" which allowed to rapidly expand market share ...
12/ At Hero, they executed the same playbook.
• Started as acne patch category
• Dominated the category so expanded to an "acne care brand"
• Now building "functional skincare"
Continually evolving scope to expand SKUs.
But how were they able to grow in the first place ...
• Started as acne patch category
• Dominated the category so expanded to an "acne care brand"
• Now building "functional skincare"
Continually evolving scope to expand SKUs.
But how were they able to grow in the first place ...
13/ They decided to take the reverse playbook of all the big DTC brands.
• No VC $$
• Focus only on ONE product (Mighty Patch) and ONE channel (Amazon)
• Build a sustainable, cash-flowing business
and it paid off ...
• No VC $$
• Focus only on ONE product (Mighty Patch) and ONE channel (Amazon)
• Build a sustainable, cash-flowing business
and it paid off ...
14/ They tapped into 3 major marketing channels:
• Amazon ads
• Influencer brand deals
• PR
They used a PR site called Launch Grow Joy that allowed them to connect with editors for $75/month that were looking for new products to write about.
By the end of year 1 ...
• Amazon ads
• Influencer brand deals
• PR
They used a PR site called Launch Grow Joy that allowed them to connect with editors for $75/month that were looking for new products to write about.
By the end of year 1 ...
15/ They did $1.6 MILLION in revenue even though all 3 co-founders were working their full-time jobs.
Ju quit after 8 months when the business was big enough that she could pay herself a $75,000 salary.
Their next big inflection point followed quickly ...
Ju quit after 8 months when the business was big enough that she could pay herself a $75,000 salary.
Their next big inflection point followed quickly ...
16/ A deal was reached with their first big retailer, Anthropologie.
After that the momentum came:
• One retailer turned into conversations with 4-5 more
• One press article led to 15+ editors wanting to do a profile
They kept on bootstrapping for 3 more years ...
After that the momentum came:
• One retailer turned into conversations with 4-5 more
• One press article led to 15+ editors wanting to do a profile
They kept on bootstrapping for 3 more years ...
17/ By 2020, the 3 co-founders started having conversations on selling the business.
They were about to hit the $100m/year revenue point and faced growing competition.
They sold a small stake to a PE firm to build brand recognition + get finances ready for an acquisition.
They were about to hit the $100m/year revenue point and faced growing competition.
They sold a small stake to a PE firm to build brand recognition + get finances ready for an acquisition.
18/ In 2022, they found the perfect partner, they sold to manufacturing Church & Dwight for $630 million.
The founders still owned the vast majority of the business.
1 SKU, 5 years, major grind and a ton of Courage. how inspiring!
The founders still owned the vast majority of the business.
1 SKU, 5 years, major grind and a ton of Courage. how inspiring!
19/ Why I love this story, it's a reminder that:
1. Focused on one product and one channel
2. Perfected that playbook before replicating
3. Trust your gut when not to launch
4. Build your support system
5. Momentum opens all doors
1. Focused on one product and one channel
2. Perfected that playbook before replicating
3. Trust your gut when not to launch
4. Build your support system
5. Momentum opens all doors
20/ Did you enjoy this thread?
If so, you will love: The Kahani Podcast.
My new podcast where I interview ecomm entrepreneurs 1x1 on their journey from 0 to X.
Follow @appkahani and subscribe to the podcast for more details on @jurhyu's story:
podcasts.apple.com/us/podcast/%24630-000-000-exit-in-just-5-years-ju-rhyu-of-hero-cosmetics/id1647820...
If so, you will love: The Kahani Podcast.
My new podcast where I interview ecomm entrepreneurs 1x1 on their journey from 0 to X.
Follow @appkahani and subscribe to the podcast for more details on @jurhyu's story:
podcasts.apple.com/us/podcast/%24630-000-000-exit-in-just-5-years-ju-rhyu-of-hero-cosmetics/id1647820...
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For more awesome stories and learnings about entrepreneurship, follow me @jspujji
I've bootstrapped multiple 8 figure businesses. Founded a venture studio and 3 companies last year and love helping others learn/grow through the power of entrepreneurship!
I've bootstrapped multiple 8 figure businesses. Founded a venture studio and 3 companies last year and love helping others learn/grow through the power of entrepreneurship!
