『#231: Lily’s Sweets – Sweeter Than Sugar』のカバーアート

#231: Lily’s Sweets – Sweeter Than Sugar

#231: Lily’s Sweets – Sweeter Than Sugar

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 Cynthia Tice started Lily's Sweets at the age of 60 and sold it to Hersey's 11 years later for $400 Million. Wow! Dave Young: Welcome to The Empire Builders Podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom-and-pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I'm Stephen's sidekick and business partner, Dave Young. Before we get into today's episode, a word from our sponsor, which is, well, it's us, but we're highlighting ads we've written and produced for our clients. So, here's one of those. [Seaside Plumbing Ad] Dave Young: Welcome to The Empire Builders Podcast. I'm Dave Young, that guy next to me is Stephen Semple, and we're talking about empires. We're talking about businesses that started with nothing and grew to be huge, as we say. And today, Stephen whispered in my ear the topic and I've never heard of it. No idea. Stephen Semple: Yay, finally stumped. It doesn't stump Dave very often. Dave Young: Thanks for listening to The Empire Builders Podcast. That's all we've got for you today. Oh, no, wait. Stephen Semple: Because clearly if Dave- Dave Young: Oh, wait. Stephen Semple: Because clearly if Dave's not heard about it, it's not interesting. Dave Young: Wait a minute. I forgot to have you tell me about them, so go ahead. Go ahead with your little story there, Stephen. Stephen Semple: Yeah, so it's a company called Lily's Sweets. Now, they're a chocolate company and they make sugar-free chocolate. And I'm not surprised that you haven't heard of them, but here's the reason why I think they're worth talking about, is 11 years after the business started by Cynthia Tice, it was sold to Hershey's for $400 million. Dave Young: That's a nice little getaway. Stephen Semple: Yeah, that's worth talking about. Don't you think? Dave Young: So it's owned by Hershey's now. Stephen Semple: It's owned by Hershey's now. Dave Young: Do they still operate under the name Lily's Sweets or is it all just a- Stephen Semple: Yes, they do. Dave Young: ... Hershey's conglomerated candy corporation. Stephen Semple: The bar is called Lily's Sweets, so you can still get Lily's Sweets bars. They're made by Hershey's. And as I said, Cynthia sold it to the company after 11 years for- Dave Young: 11 years? Stephen Semple: ... $400 million. Yes. Dave Young: That's brilliant. Stephen Semple: Now, here's the other thing is she started the company at the fine young age of 60. Dave Young: I love this story. Stephen Semple: Right? Now you understand why I wanted to share this story. Dave Young: There may yet be hope. Stephen Semple: And so they do these sugar-free chocolates, and the goal for her was always to make a good, enjoyable chocolate product. Because we go back to early days of the sugar-free products, they were marketed to people who are diabetic and who are trying to lose weight, and they really didn't taste good. But the anti-sugar movement triggered something that was bigger because people started to discover that sugar's tied in inflammation, and there's been this explosion in these products. To give you an idea, in 2024, the no-sugar chocolate area as a category doubled. That's how much the growth is. Dave Young: 2004? Stephen Semple: 2024. So still even today- Dave Young: 2024. Doubled in '24? Stephen Semple: Still even today, yes, the growth is really rapid. But this is what Cynthia saw, so let's go back to 2008 in Philadelphia. Cynthia Tice is a food consultant and a graduate of Temple University. And Temple University is actually a big presence in Philadelphia. I had a chance to speak at Temple and it's in downtown Philly, and downtown Philly's pretty neat. And look, if you're ever in Philadelphia, you have to go do the Rocky statue, right? Dave Young:
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