Zero Co wraps up
After six years of innovation in the circular cleaning products space, Aussie pioneer Zero Co is pulling the plug.
Zero Co's online store will close on Wednesday after six years of selling refillable cleaning and personal care products and funding ocean cleanups.
According to the company’s founder Mike Smith, profitability remained elusive for the startup, which fell short of its mission to scale up to $100 million per year in revenue, with 1% of this intended to fund cleaning the world's waterways.
“Sadly, we have not been able to realise that business vision despite years of blood, sweat and tears (and a bunch of smiles and laughs along the way too),” Smith said in a statement.
“We’ve tried a number of different strategies and tactics over the years to put the business on a sustainable growth trajectory but, unfortunately, have been unable to do so.”
"I’ve poured everything I have into this business and our shared mission to untrash the planet."
Smith noted that last year’s launch of a new paper-based packaging system to replace its reusable sachets was intended to solve many of its problems but instead created technical issues, including faulty seals on some products.
“Unfortunately, it has thrown up its own set of challenges, many of which you’ve personally experienced,” Smith said. “I myself, along with the leadership team, have spent the last six months attempting to resolve the issues and turn things around, but unfortunately, we’ve been unable to do so.
“As a result, myself and my fellow directors have now come to the difficult decision that the best course of action is to close down the company.”
Smith noted the company's impact to date included the removal of over 45 million water bottles’ worth of rubbish from the world's oceans, beaches and rivers. "I’m deeply proud of the work we’ve done to reduce plastic waste at home and pollution in our oceans," he said.
Zero Co will cease trading on Wednesday 30th April and until then will be hosting a closing down sale at www.zeroco.com in a bid to sell its remaining inventory which will be discounted by 50%.
“I know this news will come as a shock to many of you,” Smith said, “and I know that many of you will be upset. For that, I am incredibly sorry. You put your faith in me, you supported my vision, and I am truly grateful for that support.
“To be honest, I’m not yet at peace with this decision. I’ve poured everything I have into this business and our shared mission to untrash the planet. The brutal truth is that this really sucks and it hurts and it makes me sad that this is how things are ending.”
Smith said unlike Zero Co, his own mission to "untrash the planet" would continue. "I’m not exactly sure what the mission looks like for me personally moving forward but my intention is to keep pushing until one billion bottles have been removed from the ocean."
