A herbal cold remedy with a great scientific pedigree and an outspoken cadre of celebrity users. Electronic games that keep preschoolers busy in doctors’ waiting rooms. Nursing lingerie that’s actually sexy. The common thread? They’re all innovative, thriving, Canadian businesses breaking new ground in their own backyards and around the world. And they’re run by women. PROFIT magazine today reveals its 6th annual W100 ranking of Canada’s Top Women Entrepreneurs. Over the past three years, the W100 have seen their annual revenue rise an average of 85%. See the top winners below.
How Cold-fX got so hot
Jacqueline Shan’s (#57 in the ranking) CV Technologies spent millions trying to launch its herbal cold remedy, Cold-fX. In 2003, she even had to lay off 25 full-time employees. “It was like laying off friends and family,” she tells PROFIT. Only when she leveraged free publicity and celebrity endorsements did business really take off. High-profile fans of the miracle pill — which is claimed to significantly reduce the duration and severity of cold and flu symptoms after a three-day regimen — include comedian Rick Mercer, singer Michael Burgess, Olympic cyclist and speed skater Clara Hughes and members of hockey’s Edmonton Oilers. Most notably — and with the most volume — Cold-fX is officially endorsed by sports broadcaster Don Cherry.
Cold-fX is now the No. 1 cold and flu medicine in Canada, available at more than 6,000 retail outlets. In fiscal 2004, CV turned its first profit on sales of $6.4 million, quadrupling revenue from the prior year. And in the first nine months of fiscal 2005 alone, CV’s revenue topped $24 million. Learn how CV Technologies became a made-in-Canada success story in the pages of the November issue of PROFIT magazine, hitting newsstands October 31.
The Top Women Entrepreneurs:
To see the complete list of winners, visit PROFITguide.com/W100.
How we ranked them:
The W100 are ranked by their firms’ gross revenue for the most recent complete fiscal year. Revenue figures were confirmed through financial statements.
About PROFIT Magazine:
PROFIT: Your Guide to Business Success, offers news, strategies, tips, interviews and other resources to the CEOs of Canadian growth companies. Each year PROFIT — which currently reaches more than 400,000 readers nationally — hosts a number of events that bring together business leaders in the fast-growth segment and champions the interests of those leaders. PROFIT was founded in April 1982, as Canada’s first national magazine geared to entrepreneurs. Visit PROFITguide.com.
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For more information or an interview, please contact:
Suneel Khanna
(416) 764-1219 / (416) 816-4244
Email Suneel Khanna
