Australian Enterprise Awards 2021

56 APAC / Australian Enterprise Awards 2021 , Fifth Estate Co was founded in December 2017 by Dr Joey Crawford and Mr William Coats. Their aim was to create a line of high-quality and sustainable grooming products for men. With a little over three years under their belts, they’ve achieved this with flying colours, celebrating success in the Australian Enterprise Awards. Based in Tasmania, the team produce products that are all-natural. This is the heart of the production process which has seen Fifth Estate Co enter popular use in barbers and salons around the country. Every element, from the scent all the way through to the packaging, is designed to be of the highest quality in order to ensure satisfaction. Such is the nature of the team’s products that it can be used anywhere and anytime to add some extra flair to everyday life. The team have seen many challenges since starting, namely the limited resources when compared to conglomerate competitors. The business model, therefore, is one which embraces the challenge of the occasion. A network was built based on supplier, intermediary and collaborator organisations. This has created a system where suppliers have a stake in how their products, such as locally sourced olive oil Best Men’s Hair Care Products Retailer 2021 The realmof male grooming products is a rapidly growing industry, one which is built on principles that are thoroughlymodern. Meeting these standards is not easy, but can guarantee impressive steps forward for companies willing to invest in the future. We take a closer look at a recognised leader in the field, Fifth Estate Co, to see what steps this teamhave made to ensure that they appeal to their core demographic. Jan21454 Fifth Estate Co Company: Fifth Estate Co Contact: Dr Joey Crawford Web Address: www.fifthestateco.com.au Email: [email protected] and beeswax, are used. Everyone plays a part in the advertising of products, thus generating more business for Fifth Estate Co and others in the supply chain at the same time. This relational approach is one which has allowed the team to work even more closely with its salon partners, many of which have never been fully valued within the supply chain. By eliciting feedback from those who use their products, the team at Fifth Estate Co have been able to produce products that really meet the needs of everyday people. It’s an innovative approach which has brought about a new way of thinking for many within in the industry. It’s clear that while the world changed during the COVID-19 pandemic, the need for high quality products has not gone anywhere. Thanks to an approach which embraced the potential of online customers, the team have been able to grow over the last year to new levels of success. This decision was bolstered by the fact that those in lockdown had more time to engage with online content. As the world returns to normal, however, there is a clear need for greater customer choice in products. The beard line that Fifth Estate Co has developed is getting ready to grow with new and unique Tasmanian and Australian scents. There has been significant interest in new beard-based products and the team have spent the last few months researching a series of prototypes in this space. These new products will draw on the latest science and insights to ensure that the team continue to offer a best-in-class solution to customers. It’s not enough for the team to look at new products, however. The need to reach new markets is key. These include pharmacists, boutique gift stores, shopping stores, and more. With an eye that is always on outreach and innovation, it’s easy to see how the team behind Fifth Estate Co has achieved such success. In an industry that has such a established way of working, they have thrived by doing something new.