From college dropout to multimillionaire within two short years, Corey Pattakos’s story closely resembles that of highly successful businessmen such as Bill Gates, Lary Ellison and Amancio Ortega, who founded giant corporations such as Microsoft, Oracle, Inditex, respectively.
After dropping out of Arizona State University (ASU), Corey went in search of a job that provide him with a side income, and soon found himself working as door-to-door salesman for security systems. However, the task proved to be unfulfilling for this restless entrepreneur. Corey felt stagnant with regards to his personal development, while he was also haunted by the thought that he wasn’t on track to reach his full potential.
“There came a point in time when I had to say, I’m making someone else rich, working for near minimum wage and I know I’m worthy of so much more,” said Corey.
Before making the bold move of leaving the security of a steady job in search of greener pastures, Corey spent significant time researching and learning about branding items from Chinese giant retailer Alibaba and selling them under his own brand. In an interview with Channel 10 News, Corey shared that he tested over 32 products before settling on his niche, which perfectly meshed with the combination of his experience and business acumen: beauty.
With a mere $200 as a starting capital, Corey founded his first dropshipping store, Avine. From there on, things moved fast: while Corey initially spent an average of 1-2 hours a day designing and creating products in collaboration with manufacturers overseas, by the time he hit $1,000,000 in sales, he only had to put in just an hour and a half each week on his site in order for his business to continue thriving.
“After my launch with Avine I knew I was only at the beginning,” said Corey. “I knew I could make other cosmetic items affordable to others without the huge markup other companies charge. I’ve been to Italy, I’ve seen the prices we paid for these items; I knew I could create a premium make-up line without all the overhead.”
In early 2018, and on a mission to make Avine a global brand, Corey built a warehouse in Tucson, Arizona, which would serve as the company’s distribution center. Avine’s meteoric rise in the industry drew the attention of top Korean cosmetic brands, who went in a heated bidding war over its purchase. Avine was ultimately sold for $16m to a private investor, having generated over $54m in revenue with an estimated $9m in profits since its 2016 launch, and up to its 2018 sale.
As for what is next for Corey? Various different projects and collaborations in the field of business, marketing and ecommerce.
“I don’t see Avine’s sale as the end of the road for me. In fact, I’d say it’s just the beginning,” lamented Corey, when asked to comment on his future, post his first successful business’s sale. “I’ve always juggled many different roles, so I am looking forward to continue working in show business, and growing my consultancy business by securing key partnerships with several high-profile companies.”
At the time of writing, Corey has already worked with highly popular and Instagram-favorite brands Sugarbearhair, hismile and Brickell, helping them strategize their marketing and branding efforts.
The ecommerce maven is also on his way to becoming a social media influencer, having gained a sizeable following thanks to his modeling and acting work pre-founding Avine. Most notably, Corey was a guest at the MTV Music Awards two years in a row, while he also made an appearance in a British Vogue magazine spread back in 2015.
Corey will release any developments with regards to his next moves in future communications with the press.