From Wall Street to Family Skincare: How Kimberley Ho Built a $100 Million Brand
Table of Contents
- Key Highlights:
- Introduction
- Early Life and Education
- The High-Stakes World of Investment Banking
- The Inspiration Behind Evereden
- Building the Brand
- Expanding Product Offerings
- Achieving Financial Milestones
- A Labor of Love
- FAQ
Key Highlights:
- Kimberley Ho transitioned from investment banking to co-founding Evereden, a family skincare brand that has achieved annual sales of $100 million.
- Raised by entrepreneurial parents in Kuala Lumpur, Ho's early exposure to business shaped her resilient work ethic.
- Evereden focuses on clean, high-quality skincare products tailored for families, tapping into the growing demand for niche skincare solutions among Generation Alpha.
Introduction
In a world where the beauty industry often prioritizes profits over safety, Kimberley Ho has carved out a niche that prioritizes family health and well-being. A Stanford alumna and former investment banker, Ho's journey from Wall Street to entrepreneurship is a testament to her drive and vision. Co-founding Evereden, a family skincare brand, she has built a company that not only meets the needs of modern families but also challenges the status quo in the skincare market. With annual sales soaring to $100 million, her story is both inspiring and instructive for aspiring entrepreneurs and consumers alike.
Early Life and Education
Kimberley Ho was born and raised in Kuala Lumpur, Malaysia, where her parents ran their own businesses. This entrepreneurial environment instilled in her a deep appreciation for hard work and resilience. Reflecting on her childhood, Ho describes herself as a "startup baby," influenced by her mother’s relentless spirit, who juggled business responsibilities even during pregnancy. This early exposure to the challenges and triumphs of running a business would later prove invaluable in her career.
Ho's academic journey led her to Stanford University, where she pursued a degree in economics. The ambitious teenager, who initially aspired to attend Ivy League schools, found her academic home at Stanford, a decision that would shape her future. After graduating, she secured a coveted internship at Goldman Sachs, marking the beginning of her foray into the high-pressure world of investment banking.
The High-Stakes World of Investment Banking
Ho's tenure at Goldman Sachs was characterized by long hours and high expectations. As a young analyst, she often worked 100-hour weeks, navigating the intense demands of a cutthroat industry. Her experiences ranged from managing complex financial analyses to enduring late-night calls for minor errors. While the job was grueling, Ho credits this period with shaping her work ethic and fortitude.
After a few years, she transitioned to Oaktree Capital Management, where she honed her investment skills, particularly in the consumer sector. It was during this time that she became increasingly aware of the landscape of the beauty industry, noting the lawsuits and controversies surrounding large skincare brands. These experiences sparked a critical realization: the market was rife with gaps and misrepresentation, particularly concerning product safety and transparency.
The Inspiration Behind Evereden
As Ho's friends in Malaysia began having children, they turned to her for help in sourcing safe and effective skincare products. However, drawing from her insider knowledge as an investor, Ho was acutely aware that many brands made misleading claims about their products. This contradiction ignited her passion for creating a brand that truly prioritized safety and quality.
In 2017, motivated by her findings and personal experiences with sensitive skin, Ho made the bold decision to leave Oaktree and co-found Evereden with her husband, Huang Lee. Ho identified a significant gap in the skincare market for families—an area largely overlooked by existing beauty brands. "Billions have been poured into women’s beauty and cosmetics, but family skincare remained largely overlooked," she remarked, highlighting the imbalance that drove her to action.
Building the Brand
Despite their financial backgrounds, Ho and Lee faced the daunting challenge of entering the skincare industry without any medical training. To bridge this knowledge gap, Ho proactively reached out to 50 dermatologists, pitching her vision for Evereden. Her persistence paid off; Dr. Joyce Teng, a respected dermatologist from Stanford Medical School, joined the team as Chief Science Officer. Soon after, two Harvard-affiliated doctors, motivated by their experiences as mothers, also came on board.
After two years of rigorous formulation, testing, and securing FDA approvals for select products, Evereden launched its line of family skincare. The brand debuted in the U.S. and China, tapping into two of the world’s most lucrative skincare markets. Ho recognized the potential to connect with Generation Alpha, children born after 2010, who desire products that resonate with their unique identities. "They no longer want to use the bottle of two-in-one shampoo in the bathroom shelf; rather, they want niche products that they can call their own," she explained.
Expanding Product Offerings
Evereden quickly diversified its product offerings, initially catering to children and later expanding to include products for mothers, such as stretch mark oils. Ho’s strategy paid off, as the brand achieved over $1 million in revenue within its early years. The addition of kids’ skincare and haircare to the lineup further propelled the brand's growth. Evereden’s haircare products soon topped Amazon's kids' hair category, and its preteen products emerged as the fastest-growing segment.
The brand's success can be attributed to its commitment to quality and the increasing consumer demand for clean, safe skincare products. As parents began to recognize the importance of using non-toxic ingredients on their children, Evereden positioned itself as a trustworthy alternative to mainstream brands.
Achieving Financial Milestones
With its innovative approach and strategic marketing, Evereden reached an impressive milestone of $100 million in annual sales. The brand turned a net profit last year, marking a significant achievement for a company that began with a vision of filling a void in family skincare. Ho's leadership and her team’s expertise played a crucial role in navigating the complexities of the skincare market and establishing Evereden as a leader in its category.
Looking ahead, Ho has ambitious plans for Evereden. She envisions the brand becoming a global leader in family skincare, akin to the storied legacy of Johnson & Johnson. Her goal is to continue innovating and expanding to meet the evolving needs of families.
A Labor of Love
Reflecting on her journey, Ho emphasizes that building Evereden has always been about more than financial gain. "It is truly such a labor of love," she shared, expressing pride in being able to bring safe and effective products to her friends and family back home in Malaysia. The entrepreneurial mindset instilled in her by her parents and the relentless work ethic developed during her time in finance have been cornerstones of her success.
Ho's story resonates as a powerful reminder of the potential for change within the beauty industry. By prioritizing transparency, safety, and quality, Evereden stands as a beacon for families seeking skincare solutions they can trust.
FAQ
What inspired Kimberley Ho to start Evereden? Kimberley Ho was inspired to start Evereden after noticing a gap in the market for safe and effective family skincare products. Her experiences as an investor in the beauty industry revealed many brands' misleading claims about product safety.
How did Ho transition from investment banking to skincare? After working in investment banking and asset management, Ho identified a need for clean skincare products while interacting with new parents in her circle. This realization motivated her to leave her corporate career and co-found Evereden.
What are some key products offered by Evereden? Evereden offers a range of family skincare products, including items for children, such as haircare and skincare, as well as products for mothers, such as stretch mark oils.
How has Evereden achieved financial success? Evereden achieved financial success through a combination of high-quality products, effective marketing strategies, and a growing demand for clean skincare products among families.
What are Ho's future plans for Evereden? Kimberley Ho aims to position Evereden as a global leader in family skincare, similar to Johnson & Johnson, and to continue innovating to meet the changing needs of families.