The US needed other options for its infant formula providers and Bubs Australia stepped in at the right time.
👉 Background: Bubs Australia is a baby formula company that manufactures a range of different formulas. It launched back in 1993 - but it's fair to say that Bub's time to shine is now.
👉 What happened: Earlier this year, there was a major contamination issue at one of the largest infant formula providers in the US. The US urgently looked to other countries to help fill the major gap. Bubs was one of the first infant formula manufacturers to receive temporary US government approval.
👉 What else: Since then, Bubs has delivered over 540,000 tins of formula to the US, and now it has announced a whopping 174% increase in gross revenue. Bubs' share price is also up over 20% since this lucky break.
💡Although business success is largely based on the right team, strategy and execution, luck can also play a key part.
💡 Who could forget Zoom? It was a great piece of software pre-pandemic... But COVID gave it one of the greatest boosts of all time. During the peak of COVID, Zoom’s share price jumped from around $60 USD to nearly $600 USD.
💡The skill is in taking the luck and turning it into something sustainable - which is exactly what Bubs is trying to do now by turning its temporary US approval into permanent approval.
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