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CNBC's The Profit Gives Cosmetics Company a Makeover

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Kelly Scanlon

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Big changes and new opportunities are underway for The Lano Company, a Raymore, Missouri business that makes lanolin-based cosmetics. Miranda Coggins President of The Lano Company was featured  on a recent episode of the CNBC reality show The Profit. The show’s star, serial entrepreneur Marcus Lemonis, invested $500,000 in the company for a 20 percent stake. In return, he’s pushing owners Miranda and Layne Coggins to make a series of changes in how Lano operates.
That includes revamping Lano’s lineup of products, packaging and branding, a third-party manufacturer and contacts at the QVC shopping network and Birchbox, a national subscription-box business. He also has signed a five-year contract for new space for the company. Miranda shares her stories from behind the scenes with Smart Companies host Kelly Scanlon and she tells listeners the lessons she learned about growing her already successful business.

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