Sales: $314 million (estimated).
Key Personnel: Luis Urdaneta, chairman and co-founder; Rayner Urdaneta, chief executive officer and co-founder; Stuart A. MacMillan, president; Thomas J. Hoolihan, senior vice president and chief legal officer; John Leitsch, senior vice president and chief information officer; Javier Urdaneta, chief of staff; Chris Reshotkin, chief financial officer; Jamie S. Ross, senior vice president, research and development; Luisaylen Urdaneta, director of recognition and gratitude.
Major Products: Hair care and grooming products.
New Products: Colour Enhance Shampoos and Conditioners, Rejuvabeads, Refinish Control Hairspray Tousled Texturizing Mist, Restyle Instant Sculpting Taffy, Blow Out Cream, Super Moisture Masque, Clarifying Shampoo, Air Dry Cream, Curl Cream, Moxie Magnifying Mousse, Thickening Spray, Smoothing Shampoo, The Champ Conditioning Dry Shampoo, Monat Black (men’s line with Shampoo + Conditioner, Cream Shave, Groom Styling Clay, Aftershave + Moisturizer, Premium Beard Oil.
Comments: Monat is new to The Top 50. Founded in 2014, Monat is a fast-growing direct seller of hair care, and was recently honored with the 2018 DSN Bravo Growth Award, which recognizes extraordinary annual sales growth.
Based in the Miami, FL area, the company is taking steps to keep its upward trajectory. For example, over the past year, Monat says it has improved and expanded customer care call center and enhanced training of customer care representatives. It has been busy in development too, rolling out 21 new products last year, including a men’s line called Monat Black as well as Rejuvabeads, which are designed to selectively target and temporarily mend split ends and other damaged or stressed areas along the hair shaft, eliminating breakage and frizz, decreasing friction, increasing shine and helping improve color.
The firm also made its foray into the European market by entering the UK.
As of May 2018, Monat said it 625,000 “VIP” customers and 200,000 so-called “Market Partners.”
But the company has faced some issues, too. According to reports, the US Food and Drug Administration has received adverse event reports and there are have been some lawsuits and complaints filed against the firm with the Better Business Bureau in South Florida, too. Monat has been actively protecting its reputation, including launching a specific website called truthaboutmonat.com. In April, a federal judge ruled in favor of Monat in a decision that would have limited the company’s right to free speech during a class-action lawsuit.
In June, the Association of Marketing and Communications Professionals presented Monat with the Communitas Award for Community Service and corporate social responsibility (CSR) for its Monat Gratitude program. Monat Gratitude’s mission is to generate a positive impact and inspire change in the areas of education, children and families by working with visionary organizations that are improving the world.