At the event, which took place in Johannesburg on 13 November 2008, the brothers were recognised for expanding the company and taking their signature skincare product, Bio-Oil, a scar and stretch-mark oil, to become one of the fastest growing brands worldwide.
Since acquiring the company in 2000, the pair has overseen the brand's global roll-out - it is the number one selling product in its category in 16 of the 18 countries where it is available - and has grown retail sales from R3 million in 2000 to R1 billion in 2008.
“As a member of South Africa's fastest growing business sector, we're honoured by the accolade and the association with such a prestigious competition,” said David. “While competition in our category was incredibly stiff we're proud to have been recognised for our creativity and innovation, and hope our success inspires others to break out of their comfort zones, overcome challenges, to keep learning and follow their intuition.”
Considered one of the world's premier business awards the global Ernst & Young World Entrepreneur of the Year programme celebrates the achievements of outstanding entrepreneurs and recognises the contributions of these individuals to the economic and social progress of their countries. Judging criteria includes reviewing the finalists' entrepreneurial spirit, innovation, strategic direction and financial performance, global/ local/ community impact and personal integrity and influence.
