A Billion Dollar Brand Called Chobani!
How much can you earn by selling yogurt? Ask Turkish immigration and CEO of the Chobani Greek Yogurt, Hamid Ulukaya. Started as a shuttered plant, the small business planned by Ulukaya has grown into the best-selling yogurt brand in the country, thanks to America’s love for the Greek-style yogurt. The net worth of the brand is $1.1 billion and placed its founder in international limelight.
The five-year old company, with its roots in Norwich, New York, today controls 17% of the country’s yogurt market. Since 2009, its sales have grown four times and so far, Ulukaya has not been featured on any wealth ranking list. So, appearing on the Bloomberg Billionaires Index is his first such outing. A firm analyzing the financial progress of private companies calls Chobani’s growth “unbelievable” and compares Chobani’s growth chart to that of a software firm.
However, all that fortune may be in trouble already and not just from the competitors. Ulukaya is fighting a lawsuit filed by his ex-wife, Ayse Giray, who wants to have $1.5 billion in damages. For a young man to shift to the US from a dairy farm in Turkey, Ulukaya learnt a few tricks at the business courses at the State University of New York at Albany because he started making feta cheese in New York. Well, that is a tremendous journey he has made in just 15 years. His brand is being called “the biggest innovation in the dairy industry.” What more would a man ask for? Perhaps, a couple of billion dollars more, right!
Image Courtesy: sabah