Beverly Hills, CA
Sales: $480 million (estimated).
Key Personnel: John Paul DeJoria, chief executive officer; Luke Jacobellis, president; Rick Battaglini, vice president, finance; Angus Mitchell, artistic director, education.
Major Products: Professional hair care products including Paul Mitchell, Awapuhi Wild Ginger, Tea Tree, Modern Elixirs, Paul Mitchell Professional Hair Color, Paul Mitchell Pro Tools.
New Products: SolarVeil Complex, Mitch men’s grooming products, Express Ion Curls.
Comments: Paul Mitchell remains the No. 1 privately-held company in the professional hair care industry. The company sells its products in more than 150,000 beauty salons in nearly 90 countries. Annual retail sales are estimated at $1 billion.
Paul Mitchell struck a distribution deal with select Marriott hotels.
In May, Mitch Construction Paste was named “Best Hair Paste” by Men’s Health readers.
Everyone knows that DeJoria is the founder of Patrón Spirits Co. But did you know that he is big backer of sustainability? He is the majority shareholder in Gustin Energy, an environmentally-friendly natural gas and oil explorer, and his DeJoria Diamonds sells conflict-free diamonds. Last year, he started JPSelects.com, an online marketplace for sustainable products.
In a recent interview with Fortune, DeJoria offered three bits of wisdom for would-be entrepreneurs:
- Be prepared for rejection.
- Make the highest-quality products.
- Practice sustainability.