Millionaire entrepreneurs Sam and Kacie Malouf's entrepreneurial careers began with struggle and hardship – and now, having built an empire of home goods and furniture, they've devoted their time to philanthropic efforts.
After Kacie Malouf learned that her new husband, Sam, bought his sheets at a garage sale, she insisted they purchase something new. In her search, she found that bedding, especially Egyptian cotton, was both pricey and highly desirable. Together, they saw an opportunity for a business. So, they found a wholesale supplier and began to sell sheets online. Now, GrowJo estimates that as of 2022, Malouf Inc.’s annual revenue is $97.9 million.
After selling their first set of Malouf Egyptian cotton sheets online in 2004, the Maloufs decided to embrace the entrepreneurial lifestyle fully. As customer volume increased, the couple found ways to cut costs by shipping their products in discarded boxes from their local liquor store and using their apartment as a warehouse as well as a living space. By scrimping and saving, the Maloufs were able to move into their first corporate office in 2012. By 2016, they had built a new headquarters in Logan, Utah, and in 2017, they decided to expand and begin manufacturing furniture. Today, they report daily sales of more than 30,000 products and have stores in more than 58 countries. The Maloufs were also nominated to be the MountainWest Capital Network's 2022 Utah Entrepreneurs of the Year.
In 2016, the couple created the Malouf Foundation, a nonprofit dedicated to preventing child trafficking and cyber abuse. The foundation provides self-defense courses, national education platforms, summits with expert panelists, and a certification program, according to the Malouf Foundation's 2021 Impact Report. In addition to their foundation, they also ensure that their products are certified to meet specific social and ecological standards. In 2019, they earned Certified B Corporation status, meaning that their company has environmental and legal accountability as well as transparency about their business operations.