Cariloha named to the inaugural Build 100 list with five-year job growth of 2,825%.
Inc. magazine named Cariloha to The Build 100, a new business index that honors an elite tier of companies that have expanded their employment in each of the past five years. The index was created by studying the growth performance of millions of U.S. midmarket companies between 2007 and 2012. This inaugural list celebrates agile, enduring firms across a spectrum of industries, including Coyote Logistics (3,228% workforce growth), HubSpot (709%), and Smilebuilderz (639%), among others.
Excerpt from Inc. Magazine Build 100 Article: “We began the Build 100 project by collecting data on more than 100,000 U.S. midmarket companies (those with 85 to 999 employees). We then looked at how many increased head count in every year from 2007 to 2012. Remarkably, fewer than 1.5 percent of the companies met that standard. Of those that did, we selected a representative sample that agreed to work with us on a long-term research project to understand the factors responsible for sustained growth. We focused on head count rather than revenue because we found that increased hiring is more predictive of future sustained growth, and that’s what this project is all about. For more details about the Build 100, see ‘Grow. Hire. Repeat.‘”
The Build 100 is not just another business award; it’s a predictive tool built on rigorous economic research showing the only statistically significant predictor of a company’s future success is sustained job growth over time. Every Build 100 company has added jobs in each of the last five years; a feat worth celebrating in any economic climate.
“When we first created Cariloha, not only were we able to create a sustainable product line made from bamboo, but a sustainable business model as well – one that we could scale across the United States and beyond, said Jeff Pedersen, Cariloha Founder and CEO. “Seeing Cariloha grow and watching the Bamboo Nation spread is very validating and motivating for our entire company.”
Inc. unveiled the full Build 100 list in its March 2014 issue, and on its affiliate website TheBuildNetwork.com this month. To make the cut, companies had to have achieved employee growth in 2008, 2009, 2010, 2011, and 2012. Companies founded after 2008, or those with a current U.S. workforce smaller than 85 employees, were not considered. In addition, all Build 100 companies have agreed to participate in a year-long research initiative studying the key drivers of sustained growth.
“72 percent of all new U.S. jobs are created by 1 percent of companies,” says Inc. economist-in-residence Gary Kunkle. “The Build 100 represents that top 1 percent of that 1 percent. They should be celebrated, but they must also be studied so that we can better understand — and replicate — the decisions, priorities, investments, and strategies that helped them grow.”
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The Build 100 is not ranked. To qualify, companies must have been founded and generating revenue by December 31, 2008. They had to be U.S.-based, for profit, and independent — not subsidiaries or divisions of other companies. The minimum number of employees for 2013 is 85; the minimum 2012 revenue was $8.5 million. All Build 100 companies must also agree to participate in a year-long research initiative studying the drivers of sustained growth. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on The Build 100 will be featured in the March 2014 issue on the affiliate website TheBuildNetwork.com.
Established in 2007, Cariloha is the only multi-store retailer in the United States to provide an entire store experience that’s completely merchandised with products made from bamboo. The product line features an exclusive collection of apparel, accessories, home décor, bedding and bath goods and more all made from bamboo. Cariloha’s soft, breezy bamboo goods were first seen out of three, full stores in Ocho Rios, Jamaica; Cozumel, Mexico; and St. Thomas, USVI. Since the first three stores in 2008, Cariloha has already opened stores in 13 countries and growing. Cariloha has quickly become one of the fastest-growing merchants promoted on board Carnival, Celebrity, Disney, Princess, Royal Caribbean and Norwegian Cruise Lines. Today, thanks to an ever-growing, rich supply of bamboo, Cariloha continues to offer an exclusive collection of apparel, accessories, home décor, bed and bath sets and more all enjoying the strength, soft touch, and green ‘footprint’ of this renewable resource.
About The Build Network
Founded in 2011 by two longtime editors of Inc., The Build Network is a management enterprise within Inc. that studies and serves sustained-growth companies with a special quarterly print section, a dynamic web site, live events, research endeavors, and The Build 100 index of sustained-growth firms. For more information, visit thebuildnetwork.com.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.