IN REAL TIME
The Ridinger’s paradisiacal business model spills over into their lifestyle with a sprawling waterfront estate, Casa de Sueños, which literally translates to “House of Dreams,” in Miami Beach where they reside most of the year; and for summers spent in New York City, a 15,000-square-foot mansion in the sky, and of course dock space for their pair of mega-yachts: Utopia 2 and Utopia 3. “For us, both Miami and New York are the ideal places to live,” Loren explains. “In the summertime, when Miami is stiflingly hot, we go to New York and I tap into the sophistication and the hustle and bustle of the city. For me it’s like every interaction, every experience in New York is another opportunity for great business. We get the best of both worlds.”
The truth is that both Loren and JR are so revolutionary in their thinking, so three-steps-ahead, that every encounter is an opportunity to make magic happen regardless of where they are. Take their list of celebrity friends, for example. Reading like a who’s who in the worlds of music, television, and entertainment, the Ridinger’s count the Kardashian family, Jennifer Lopez & Marc Anthony, Eva Longoria, and Swizz Beatz & Alicia Keys amongst some of their closest friends. In fact, it was on their yacht where Keys, Swizz, and Alejandro Sanz formed the idea, music, and lyrics to their hit collaborative song, “Looking for Paradise.” And since the Ridinger’s only breed hits, it’s no surprise that the song, born in their company, recently won a Latin Grammy for best album, and has been nominated for an American Grammy.
HOME MADE
Similarly, the company continues to reach new levels of paradise. Since that first spark of inspiration, JR has had quite a few more. “I’m always pregnant with ideas, programs, or projects,” he laughs. Loren too, a bona-fide entrepreneur, has launched several of her own brands under the MA umbrella, most of which are amongst the top-selling products on the site. There’s Motives, her cosmetics line that resulted in some $27 million retail in sales within its first year. For 2010, she is expecting to close at $32 million.
“I think that even in times of recession, people still buy those small things that make them look and feel good,” she deduces. Initially the line consisted of lipsticks and powders, but between November and January 1, thirty-two new products were added to the Motives lineup. “All of them pretty much sold out in the first 15 days,” she states proudly. “It’s been a huge product line for Market America.” She also mentions that Motives comes in at around number two or three in terms of best selling lines for the company, but maintains ambitions to reach number one. “It’s funny; I like to compete with myself.” It’s quite possible that she’ll take herself out in the next round, as the product line is continuously evolving. “It’s just the beginning; I’m adding a lot of anti-aging properties to the ingredients now so we can make it good for your skin too, which is important.”
It doesn’t end there. Exquisite taste gave birth to Loren Jewels this past April. A happy accident, the jewelry line started out as a hobby and a way for Loren and co. to have fun creating pieces they loved, and loved to wear. “It was supposed to be something fun, but it ended up being a great business,” she says. Available at top of the line retailers like London Jewelers, Oxygene, and the Webster, the line has developed a cult following, garnering press attention since before it was even available for purchase. “It’s kind of the opposite of what most people experience when they’re building their brand,” says Loren. “We had press before we actually had a product. I’ve been incredibly lucky because I have incredible friends who help me constantly; I really owe it to them because it’s done so well.”
The support goes both ways; Loren, JR, and Market America have collaborated with their friends on special projects across the board. The beauty is, everyone benefits. “Alejandro Sanz, we did his cologne and his perfume, and it sold out multiple times over in a very short period of time. The same with Kimora Lee Simmons and the limited-edition cosmetic line we did; it sold out.”
Next on the agenda: “My hopes are that I’ll end up doing a costume jewelry line that is more affordable for everybody. I think the masses are where it’s at.” Until then, fans can look forward to the January 31st release of Loren’s newest venture, Fixx, a line of ten different solution-oriented products that she thinks “will probably be the first rival that Market America will ever have to be the top selling product in the company,” (which is currently and has been for a while, their series of oral nutritional supplements, Isotonix). Aimed at creating solutions for problems like hair growth, the reduction of hair loss, cellulite diminishment, and even the temporary erasing of wrinkles with a product aptly named Vanish, that promises to rid you of unsightly lines for a good eight hours; the line will literally provide a series of quick fixes. “They’re all based on problems that people deal with constantly; so these are solutions for them–that’s why it’s called Fixx—and I love the name!”
News
January 3, 2011Haute Event: Jason Derulo at Vanity Nightclub
