La Mer

The jar of cream on the Mecha counter costs around $500 for 60 millilitres. The raw ingredient cost has been estimated at under $10 per jar. Customers buy it at a rate that has grown in most years for three decades. La Mer was created by aerospace physicist Dr. Max Huber, who spent 12 years experimenting with fermented sea kelp after burns to his face in a laboratory accident. Estee Lauder Companies acquired the brand in 1995 for a figure widely reported between $20 and $30 million. At the time, La Mer had a single product, limited distribution, and a loyal but small clientele. 29 years later, the brand generates well over $1 billion in revenue, making the acquisition one of the most lucrative in beauty history. At $500 a jar, the cream is not competing on ingredients or efficacy, with products that cost one-tenth as much.