Back
vishakha Jangir
•
Set2Score • 5m
𝗧𝗵𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝘄𝗵𝗼𝘀𝗲 𝗱𝗲𝘀𝗶𝗴𝗻 𝗵𝗮𝘀 𝗯𝗮𝗿𝗲𝗹𝘆 𝗰𝗵𝗮𝗻𝗴𝗲𝗱 !! That's a 🧷. In 1849, Walter Hunt created the safety pin using just a piece of copper wire—an innovative yet straightforward design intended to settle a $15 debt. He later sold the patent for $400, and remarkably, the design has barely changed since then. Think about it: cars have evolved, bicycles have been reinvented, and fashion trends constantly change. Yet, the safety pin remains nearly identical to its original form. ---- Despite its simplicity, the global safety pin market is valued at over $150 million annually, with demand spanning across clothing, medical, and packaging industries. The textile and fashion sector accounts for nearly 60% of total safety pin consumption, as they are essential for tailoring, alterations, and fashion emergencies. In healthcare, safety pins are widely used in first aid kits and bandages, contributing to 15% of total sales. The cost of manufacturing a single safety pin is as low as $0.01, yet bulk retail pricing allows for profit margins exceeding 200-300%, making it a highly lucrative product. ---- A reminder that brilliance isn't always about complexity; sometimes, the simplest ideas stand the test of time. Let me know if you have the same idea in your mind about any product. :)
Replies (3)
More like this
Recommendations from Medial
Mridul Chandhok
Entrepreneur and Ger... • 1y
How about a fashion clothing platform that’s famous for fashion trends from all over the world like a Category with famous Korean fashion, and many more such fashion trends from all over the world. Famous fashion clothing trend from various parts of
See More
Nilotpal Chauhan
Co-Founder & CEO of ... • 1y
Global Service Industry has a total TAM of nearly $14 Trillion, and it's expected to grow with 21% CAGR by the year 2033. India 🇮🇳 Export: $105 Billion Import: $170 Billion You either yourself problems, Or you help people solve problems. Endles
See More
Mahendra Lochhab
Content creator • 1y
The Aditya Birla Group has achieved a market valuation of $100 billion. The group's portfolio includes UltraTech Cement, Grasim, Hindalco, Aditya Birla Capital, Aditya Birla Sun Life AMC, Vodafone Idea, Aditya Birla Fashion & Retail, TCNS Clothing,
See More
Download the medial app to read full posts, comements and news.