companys

As the Pandemic Rattles the Global Economy, This Beauty Company’s Sales Are Booming

Madison Reed CEO and Founder Amy Errett on running a business that’s thriving, despite (and because of) the pandemic.

The global economy — and retail, in particular — is struggling. With the pandemic bringing uncertainty to virtually every industry, this is a period in which many entrepreneurs are overhauling their businesses, reassessing their priorities and figuring out how to survive. 

For direct-to-consumer, at-home hair color company Madison Reed, though, business is positively booming.

Like Clorox wipes and Purell, it turns out that Covid-19 has created massive demand for DIY hair color options that allow consumers to skip the salon. That’s putting it mildly, if you consider Madison Reed’s recent sales figures: According to a representative, over the past several months, the company experienced 12 times the number of new customers it normally would. In February, Madison Reed sold a Radiant Color Kit every 24 seconds; by May, that stat had

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Tesla has a huge lead over other automakers. See how the electric-car company’s brand became so mighty.

Tesla CEO Elon Musk has built Tesla into one the most powerful brands in the world.
Tesla CEO Elon Musk has built Tesla into one the most powerful brands in the world.

Jae C. Hong/Associated Press

In the car business, it’s often said that brands are grand, but products pay the bills. In other words, you can capture or retain customers with what your company stands for, but long-term, if you don’t have great vehicles, you’re going to have a problem.

For almost its entire history, more than 15 years, Tesla has inverted that wisdom. A few years ago, the carmaker was barely selling any vehicles relative to its global competitors. Last year, Tesla delivered only about 250,000 vehicles, while General Motors sold almost 8 million.

Investors have decided that this means Tesla should be worth $300 billion in market capitalization, more valuable than GM, Ford, and Fiat Chrysler Automobiles combined — and topping Volkswagen and Toyota, the two biggest automakers on Earth.

Vehicle sales obviously

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