Worcester Business Journal

12 Worcester Business Journal | August 20, 2018 | wbjournal.com Sudbury skincare company founder goes nationwide through force of will BY GRANT WELKER Worcester Business Journal News Editor Member FDIC Equal Housing Lender 866.959.BANK (2265) bankatunited.com GIVE YOUR SAVINGS A BOOST. Bring this coupon to any United Bank branch to take advantage of this limited time offer. Offer expires September 30, 2018 TO THE CURRENT RATE OPEN ANY NEW CD AND ADD 0.10 % APY As of July 23, 2018, a 12 month CD Annual Percentage Yield (APY) equals 0.55%. Bring in this coupon and add 0.10 APY for 0.65% APY. A minimum balance of $500.00 required to obtain the adver- tised bonus annual percentage yield. Fees could reduce the earnings on the account. CD Terms vary. A penalty may be imposed for early withdrawal. Limit one coupon per customer per CD opened. Tenacious entrepreneur M ichelle Moran is not a likely master of the skincare and beauty industry, but the Maynard resident got a hang of it about as quickly as anyone could have. e former apparel industry worker and single mother launched what is now Skineez in 2008 short- ly aer undergoing surgery and being given what she describes now as a horrific compression garment, a fabric drying her skin and making recovery painful. Moran created a do-it-yourself garment that moisturized her skin, something very similar to the Skineez compression socks, leggings and gloves now sitting on shelves in thousands of Walmart, Wal- greens, CVS and other stores nationwide. In an industry dominated by Johnson & Johnson and Proctor & Gamble, Sudbury-based Skineez has managed to grow from 100 stores to 6,000 in two years. Getting shelf space isn't just difficult, "it's impossible," Moran said. Jud Hill, an early investor and one of about a half-dozen major investors in Skineez, said he was drawn to working with Moran aer meeting her at a social event. Aer a few decades in pri- vate equity, Hill knows the perils of mentioning at a party you're an investor. "But she was tenacious," said Hill, who is part of the British firm Blue Star Capital and now works out of Washington, D.C. "She understood her business and knew how to explain it in a clear and concise way." The founder's persistence In investing terms, Hill bet on the jockey, and not the horse. His faith was placed not so much in Skineez but in the woman behind it, who demonstrated a confidence and entrepreneurship showing she was likely to withstand setbacks like those any startup would face. "She has the tenacity to deal with those chal- lenges," Hill said. Moran was persisten in getting people to see her potential from the start. "People fear getting a 'No,' but I don't," she said. "If I get a 'No,' I can get a 'Yes' next time." Entrepreneurs need to strike a balance between being determined and open to negoti- ation, said Frank Hoy, a professor of entrepre- neurship and innovation at Worcester Polytech- nic Institute. "ere's no magic where that balance is," he said. Hoy called Skineez's ability to get shelf space Skineez Headquarters: Sudbury Employees: 15 Products: Moisturizer-infused compression garments, including socks, leggings and gloves Stores: Roughly 6,000 stores, including Walmart, Walgreens and CVS Prices: $19.99 to $48, plus $19.99 for moisturizer spray From her office in Sudbury, Michelle Moran has grown her skincare clothing line into a national competitor. PHOTO/ARIANA AUBUCHON

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