Bluecorn Beeswax Candles
Extraordinary growth in action
Bluecorn is a well-established company with 30 years uninterrupted operation, making the highest quality beeswax candles. It is the first acquisition into The Faison Industrial Services Group. Bluecorn services customers from around the world and were pioneers of online candle sales from as far back as 1996.
Prior to being acquired by Faison Capital the business was delivering revenues of $1.4Million mostly via Amazon ($1.2Million). It’s operations were in many cases reactive and it didn’t take advantage of structured resource or purchasing.
Acquired in Q4 2020 Faison Capital set to work with the following:
- Instituted 360 Marketing Program to include Google, Amazon, Facebook, and Instagram
- Established Relationships with Wayfair
- Re-engineered Amazon presence to greatly extend platform reach
- Instilled distribution visibility via Etsy
- Introduced Blue Corn to Bunim Murray productions producers of Realty Television including shows such as Keeping up with the Kardashians, The Real World, True Divas, and more. This is for product placement for Blue Corn on nationally Televised shows
- Establish influencer relationships with members of the on air talent from the above shows
- Made significant savings from utilization of Faison Capital resources for key roles such as finance
- Impacted change in raw material purchasing policy to realise advantages of bulk buying to reduce COGS
- Implemented wholescale operational change with the introduction of Skulocity platform.
- Re-defined roles of key personnel in Marketing and Operations
- Focused CEO on new product development and equipment automation
- Purchased a new $1.8M 25,000 sq ft Manufacturing facility in the heart on Montrose, CO. Where a Bluecorn retail coffee/café is being created combined with a showroom viewing facilities where customers can watch the manufacturing process.
Currently Bluecorn is tracking to exceed revenues of $4Million for 2021, with Amazon revenue up 80% YOY and most importantly retail revenue, the most profitable component is on track to exceed $2M.
Of the future of Bluecorn, Faison Capital CEO, Quincy Faison says:
“What we’ve done so far is just the tip of the iceberg. We have other initiatives that we will not launch until we are in our new manufacturing facility. We have forecasted to get this business to $25M within five to seven years, the launch of a range of new scented product lines will be the next step in our growth path for Bluecorn”.
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2021 Investment Call
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Following on from the success of 2020, Faison have identified new opportunities in the U.S. lower middle market growth company sector. Our investment call requires an initial $8.3M to fund the purchase of the first three of these targets.
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