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Boulder, renowned as a natural food haven, is nurturing a fresh wave of wellness entrepreneurs. This vibrant community champions health-conscious products and sustainable practices, fostering innovation in the wellness industry. As a hub for mindful living, Boulder continues to inspire and support the growth of health-focused businesses.
This article is part of CNBC's quarterly Cities of Success series, which delves into urban centers that have evolved into vibrant business hubs, driven by an entrepreneurial ethos that attracts investment, corporations, and talent.
Nestled against the majestic backdrop of the Rocky Mountains, Boulder, Colorado, has emerged as a dynamic center for the natural products and wellness sector. In this city, businesses thrive, collectively generating billions in revenue, fueled by a profound reverence for entrepreneurship, outdoor recreation, and a commitment to healthy living.
The roots of the natural products and wellness industry in Boulder, Colorado, can be traced back to local hikers who, in 1969, began hand-picking wild herbs on the foothills of the Rockies. This inspired the founding of Celestial Seasonings, a pioneering tea company that played a central role in the natural foods movement. In 2000, Celestial Seasonings was acquired by the Hain Food Group, now known as the Hain Celestial Group, for $390 million.
Wendy Davidson, President and CEO of the Hain Celestial Group, emphasized Boulder's significance in the industry during a recent interview with CNBC for the upcoming primetime special "Cities of Success," airing on April 11 at 10 p.m. EDT. Davidson highlighted Boulder as the epicenter of natural and organic products, asserting that the city offers unparalleled opportunities for growth and authenticity within the industry.
Today, Celestial Seasonings, which maintains its headquarters in Boulder, brews over 1.6 billion cups of tea annually, generating sales that surpass $150 million. Its remarkable success story serves as an inspiration for numerous entrepreneurs in the area.
According to Wendy Davidson, President and CEO of the Hain Celestial Group, the key to Celestial Seasonings' success lies in the people and the entrepreneurial environment of Boulder. The city's emphasis on natural, organic, and wellness-focused initiatives has created an ideal environment for the brand to scale and thrive, making it one of the company's largest and most profitable ventures.
The focus on healthy living in the Boulder region has catalyzed a flourishing industry, contributing significantly to Colorado's economy. According to a study conducted by the Leeds School of Business at the University of Colorado Boulder in October 2020, this emphasis generates an impressive $2.1 billion annually. Moreover, the study indicates that this contribution supports over 22,000 jobs and has a substantial impact on production, supply chains, and consumer spending within the state.
The Boulder County Farmers Market, a vibrant incubator since 1987, exemplifies the region’s thriving ecosystem.
From April to November, the market in Boulder undergoes a metamorphosis, becoming a vibrant testing ground for aspiring food entrepreneurs. Each year, over 100 small businesses gather to showcase their products to a hungry crowd of 100,000 shoppers. According to the nonprofit organization Behind the Markets, sales at the market have surged by 400% since 2013, reaching an impressive $5.7 million in 2023.
In this bustling marketplace, even a humble jar of nut butter has the potential to become a coveted treasure.
From April to November, the market in Boulder undergoes a metamorphosis, becoming a vibrant testing ground for aspiring food entrepreneurs. Each year, over 100 small businesses gather to showcase their products to a hungry crowd of 100,000 shoppers. According to the nonprofit organization Behind the Markets, sales at the market have surged by 400% since 2013, reaching an impressive $5.7 million in 2023.
In this bustling marketplace, even a humble jar of nut butter has the potential to become a coveted treasure.
What started as free samples quickly evolved into a sensation. Justin Gold's unique, all-natural flavors struck a chord with health-conscious consumers, and jars of "Justin's," as they were branded, became a familiar presence at the market.
However, Gold's ambitions extended beyond the local market. He used his growing popularity to persuade local retailers to carry his brand. Through persistence and determination, his business gradually expanded, eventually leading to a pivotal partnership with Whole Foods. Today, Justin's products can be found in health stores and coffee shops across the nation.
Reflecting on his journey, Gold expressed astonishment at the accomplishments, stating to CNBC, "What we accomplished just blew out my wildest dreams." The transformation from a single farmer's market stall to a $281 million acquisition by Hormel Foods in 2016 is a testament to Gold's vision and the unique environment that Boulder cultivates for entrepreneurs.
Gold attributes his success story to several factors inherent to Boulder: its vibrant community of entrepreneurs, its emphasis on health and wellness, and the stunning natural surroundings. He highlights the city's unique atmosphere, where creativity flourishes outside of traditional office environments amidst the beauty of the outdoors.
According to Gold, Boulder's dynamic community fosters an environment where individuals can pursue innovative endeavors with remarkable results. He believes that the combination of these elements contributes to extraordinary outcomes.
Inspired by Gold's achievements, Juan Stewart launched his Latin American sparkling fruit drink, Frescos Naturales, at the Boulder County Farmers Market in 2021. Stewart quickly recognized the market's influence, describing it as "the hub of the natural food industry," where numerous brands have attained national recognition and success.
His gamble paid off. Within its first year, Frescos raked in over $40,000 in sales and secured a distribution deal with grocery chain Kroger
“I was very lucky to be in Boulder when I launched this brand,” Stewart reflected.
Established in 2005, Naturally Boulder has emerged as a catalyst for success in the natural and organic food industry. Through its support for entrepreneurs and facilitation of connections between startups and local investors, the organization has cultivated a robust ecosystem of companies that is drawing businesses from across the nation.
According to Kristine Carey, executive director at Naturally Boulder, the success of companies like Celestial Seasonings has served as a magnet, attracting other entrepreneurs to the area. She notes that the trend continues, with companies still relocating to Boulder, signaling a resurgence of energy within the industry.
This vitality is exemplified in the journey of Kristy Lewis, the founder of Quinn Snacks.
In 2010, Lewis achieved sales of $2 million for her business just outside of Boston. However, she recognized that to propel her brand to the next level, she needed to make a significant decision.
"I had this gut feeling that if we were going to be truly successful, that we had to be in Boulder," Lewis explained.
Following her move to Boulder a decade ago, Lewis witnessed her brand, Quinn Snacks, experience exponential growth. She now reports that annual sales for Quinn Snacks exceed $30 million.
"We definitely wouldn't have succeeded without this group of people backing us," Lewis emphasized, referring to the supportive Boulder community. "We knew it was exactly where we needed to be."
Source: cnbc
