4/3/2023 0 Comments Bite toothpaste bits revenueHi by Hismile’s 60g, brightly coloured pump-pack allows better control of how much product you use. To get you to pay attention to a product you use every day – and pay more than you usually would – they’re injecting some fun. To take on the giant in the room, the $US60 billion ($95 billion) global behemoth Colgate-Palmolive, they want to corner the everyday toothpaste market, build on their successful teeth whitening business and develop more products for professional dentists. It will take unbelievable products and a great brand to be able to change that. Everybody is making subconscious decisions no one knows what toothpaste they are actually using. It’s now about taking that next step forward. “I know we started with teeth whitening and the aesthetic side. And we really believe we can do that,” Tomic says. “It’s about globally becoming the biggest oral care company that exists. With chutzpah not uncommon among Young Rich Listers, Tomic and Mirkovic are chasing a lofty ambition. “How can we make it so exciting that we know that when they taste this, they’re going to want to brush their teeth, they’re going to consciously brush their teeth for two minutes a day?” “The market is 7 billion people, and so we said let’s build the best formula we can and make that formula so exciting to use and solve the problem of people who are currently brushing their teeth for only one minute,” Tomic, 29, says. The pair plan to expand into other retailers later this year as a part of a strategy to double revenue over the next 12 months. They’ve cut a deal with supermarket giant Coles, which started selling their Hi by Hismile toothpaste range in October. Nik Mirkovic and Alex Tomic want Hismile to be the biggest oral care company on the planet. They plan to do it by launching colourful pump-packs offering half the product of a regular tube and retailing it for $13 a pop, which is roughly four times the price of an on-special Colgate paste. The Gold Coast entrepreneurs, who return to the Young Rich List this year worth an estimated $125 million each, are shaking up a category most consumers pay the least attention to: toothpaste. They hope to sell so much of it that it’ll underpin a new wave of wealth creation. Young Rich Listers Nik Mirkovic and Alex Tomic may have found this generation’s new “smashed avocado”.
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