180s along with Inc. magazine announced that 180s ranked number one on the ICIC-Inc. Inner City 100 list, an annual ranking of the fastest growing inner-city private companies in America. The Inc. Inner City 100 Special Issue will appear on newsstands April 20th.
180s has approximately 70 patents and patents pending in the U.S. and abroad. Its products are carried in more than 18,000 retail outlets worldwide.
The Inner City 100, which ranks privately held companies located in inner cities according to sales growth over the past five years, is compiled by the Initiative for a Competitive Inner City (ICIC), a nonprofit business research company and Inc. Magazine. Inner City 100 companies were selected from a pool of 7,000 companies nominated from 155 cities. 180s reported more than a 9,000% growth since 1998 posting sales of $340,000 in 1998 to $32.6 million in 2002 to $47 million in 2003. The company has experienced tremendous success since its inception in 1994, when founders Brian Le Gette and Ron L. Wilson II introduced the first wrap-behind-the-head ear warmer.
“180s is an extraordinary company not only for the tremendous growth that they have demonstrated over the past five-years, but also for their profound, broader impact,” said Michael Porter, ICICs founder and CEO. “We find that Inner City 100 companies pay higher than average wages. They disproportionately offer health care, retirement benefits, life insurance, and home ownership incentives. These companies offer incredible social programs.”
“Recognition of 180s many accomplishments by Inc.s Inner City 100 is just another sign of the progress we are making here in the City of Baltimore,” said Mayor Martin OMalley. “We are proud that 180s has chosen to call Baltimore home and their commitment to making our city a better place for our children and citizens. ”
180s serves the Baltimore community with its mentoring program, 180s-4Students, which teaches self-improvement and business development skills to underserved, at promise Baltimore city middle school and high school students. The goal of the program is to provide students with the opportunity to form long-term relationships with business leaders. This will help keep them in school until graduation and teach students skills that will prepare them for college and the work world.
To be eligible for this years ICIC-Inc. Inner City 100, companies had to have at least 51 percent of operations located in economically distressed urban areas and have had at least $150,000 in sales in the base year of 1998, and their 2002 sales had to exceed $1 million. Inc. verifies all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.
“180s is thrilled to be ranked as the fastest growing inner-city company in America,” stated Brian Le Gette, CEO and co-founder of 180s. “To be chosen from 7,000 nominees from 155 cities, is a significant honor for both 180s and the city of Baltimore. This recognition underscores our business growth, our commitment to Baltimore and our leadership in the performance wear industry. ”
180s and the other Inner City 100 companies will be honored on April 12-13, 2004 at the Inner City 100 Summit in Boston. The summit is a two-day event that includes seminars, presentations and a gala award dinner.
In addition to the Inc. Inner City 100 placement, 180s has received the following awards: 180s was named as the ninth fastest growing privately held company in America on the Inc. 500 list; Brian Le Gette and Ron L. Wilson II were named 2003 Innovators of the Year by the Maryland Daily Record; honored as 2002 Entrepreneurs of the Year in the Consumer Goods category by Ernst & Young®; ranked among the top 25 sports leaders to watch in 2002 by SportsEDGE magazine; and are finalists for the Purple Cow Award presented by the Greater Baltimore Technology Council.
