|Country of Origin||USA|
|Source of Wealth||Carma Laboratories, Inc.|
Carrying a history of over 85 years, Carmex Lip Balm is one of the most loved products in over 60 countries worldwide. Know the history and details of the brand.
Apart from the making of Carmex lip balm, many are also curious about founder Alfred Woelbing‘s net worth. Keep reading until the end to learn about Woelbing’s story.
All About Carmex
- Carmex Laboratories, Inc. began in the 1930s in Wisconsin.
- Carma Lab started the famous squeezable tubes in 1988.
- The founder Alfred Woelbing died in 2001 at the age of 100.
- In the Lip Care category, Carmex Comfort Care won the “Product of the Year” in 2017.
Is Carmex Lip Balm Good For You?
How do you protect your lips from being chapped during winter? You must have a favorite brand of lip balm you like to use, and is that Carmex?
One of the wildly popular lip balms in the industry, Carmex contains camphor and menthol, which gives a cooling effect and soothe rough, chapped lips.
According to the reviews left by people on BeautyReview‘s website, most people loved the product for the formula of its products and its convenient size.
ALSO READ: CeraVe Co-Founder Tom Allison’s Net Worth
Making of the Carmex Lip Balm
It might be hard to believe, but Carmex Inc. started in a kitchen before taking over the world. The founder Alfred Woelbing started making lip balm in an attempt to treat his cold sores.
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Alfred initially started selling Carmex to pharmacies only from the trunk of his car. When the good word for the balm started to spread, Woelbing’s kitchen started to become too small.
In 1957, the family business moved to a rented facility in the Milwaukee suburb of Wauwatosa. The business flourished, and Alfred Woelbing’s son Don Woelbing joined the business in 1973.
How It All Started?
During the Great Depression, when Alfred lost his job at a department store as a buyer of cosmetics and toiletries, he created a job for himself.
Alfred created a homemade lip balm called Lyptone in order to provide for his family. However, Woelbing ended up selling Lyptone to a New Jersey firm.
The process of inventing various household products went on, such as silver polish called Shynebright and Lighter Fluid, until in 1937, Alfred created his second lip balm product.
This was how Carma Labs was born, which turned added greatly to Alfred Woelbing’s fortune. Know about another founder Laurie Minc who too created a brand worth millions.
Woelbing’s commitment to Carma Labs was unfaltering until the end. He used to visit the lab every day until he suffered a stroke at the age of 96.
Alfred Woelbing’s Net Worth
The story of how a brand that started in Kitchen is now worth millions is beyond inspiring. It is reported that around 130 pots of Carmex are sold every minute worldwide.
Despite all the success and the huge profits earned by the brand, nothing exact is known about the founder and Alfred Woelbing’s fortune generated in over 86 years of the founding of Carma.
Today Carma Laboratories, Inc.’s annual revenue is estimated to be around $32.4 million, and looking at the company’s worth, we can assume Alfred Woelbing’s net worth could be of a similar caliber.
The brand still receives recommendations from doctors, which helps it stay strong even after 8 decades in the business.
Carmex has been voted the No. 1 recommended over-the-counter lip remedy for the past eight years in Pharmacy Times Magazine.
Alfred’s son, Don, and grandson, Paul Woelbing, are continuing the family business. Paul is the current president of Carma Laboratories, Inc.
The dedication and commitment of the Woelbing family are one to admire, and we hope to see Mr. Alfred Woelbing’s invention Carmex reach further heights in the future.