As the global recession continues with much debate about when it will come to an end, many if not most industries are taking a major financial hit. And yet, the health and wellness business continues with many day spas reporting an increase in demand as well as an increased call for more massage therapists, yoga instructors and others involved in improving and maintaining mind-body health and wellness. Aside from day spas and health clubs, there are other segments of the wellness industry that are doing surprisingly well: the vitamin, supplement, and preventive health/health maintenance business are all holding their own in comparison to other industries that have been taking major economic hits over the past few months. But there is yet another business occupying a small niche of the wellness industry that is making its greatest profits since its inception: the category this niche falls into can be called “luxury wellness products.” And one of the most successful companies that makes and markets such products is Philip Stein, Inc, based out of Miami, Florida.
Philip Stein is best known for its lines of luxury watches that utilize “frequency technology” which is purported to reduce stress, aid in sleep, and improve the general sense of well being for its wearers. But aside from the physical and emotional health benefits of their timepieces, Philip Stein is very much dedicated to the luxury side of the luxury business, as their watch collections are being worn by the fashion and celebrity sets of the Americas as well as European countries.
The frequency technology utilized in Philip Stein watches uses the body’s electromagnetic fields via interaction with the naturally found frequencies of the earth. As it mimics the earth’s frequencies, it aids the body in naturally achieving a relaxed, calm, and meditative state.
But that is not the only use of frequency technology that Philip Stein has found. It is also using the same science to, of all things, make a better table wine.
Philip Stein’s latest product, the “Wine Wand” is their fastest growing one in terms of gross sales. When it was unveiled several months ago, it was promised to rapidly aerate wine so that it could reach its prime drinkable state in less than five minutes rather than the much longer process of decanting which can take half an hour to an hour to satisfactorily aerate a particular wine. The “Wine Wand” was an instant hit.
So despite the general downturn of the economy in general, it seems that is more than possible for a company to turn a profit, especially if it is in the business of making people look and feel better.