The newest CEO of Mr. Lid, a brand of plastic storage containers founded by Sussex IM, wants to turn the company’s products into the next storage phenomenon. Pall Musaev, a serial entrepreneur, purchased the Mr. Lid brand at the end of 2023. The company’s storage containers come with attached lids. Sussex IM filed a patent
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Pall Musaev. Image courtesy of Mr. Lid.[/caption]
Musaev began his professional career working with technology. He launched his own business at age 16. The constant ebb and flow of the tech industry caused Musaev to lose interest after a few years. He began searching for a more profitable and predictable kind of business to transform under his leadership.
A chance encounter with a member of the Mr. Lid leadership team sparked his interest.
“I was looking at the brand for a little while, but I wasn’t ready to commit until I realized what the vision was,” said Musaev. “Mr. Lid is not just a container with the lid attached. We’re trying to turn this into the next hot accessory.”
Young consumers are already involved in sustainable practices – using products like reusable shopping totes and water bottles – so marketing Mr. Lid to that demographic just made sense, Musaev explained. That megatrend coupled with the popularity of other reusable storage items like Stanley cups creates a large opportunity for the Mr. Lid brand, he said.
“When I bought the company, the whole point was to refresh the brand and align it with today’s values,” said Musaev.
Mr. Lid has existed for more than a decade and already has a built-in base of loyal customers. Musaev bought the business with the intent of shining an even brighter light on the brand and growing its following exponentially.
Musaev said in the last year alone, sales of Mr. Lid products have grown 10 times.
To reach this milestone, Mr. Lid is using more modern marketing tactics, like social media campaigns. Musaev also hopes to start unveiling partnerships with other recognizable consumer brands. Those brands could range from makeup companies to popular beverage companies.
Musaev eventually wants customers to associate Mr. Lid with organization at a high level, not just food storage. Some of the company’s recent social media campaigns have shown Mr. Lid products being used as storage for golf balls and tees. Mr. Lid also plans to launch different colors and designs as part of the overall effort to make Mr. Lid containers a go-to accessory.
A line of Mr. Lid containers using a new material, not using the company’s traditional plastic, is also being tested. Trying to promote sustainability with a plastic product is a unique challenge for Mr. Lid.
“We believe keeping items out of the landfill, and even out of recycling, is the goal here,” said Musaev. “We’re always looking at new materials. We’re trying to solve the plastic problem with a plastic product. That’s a big headwind for us but we think we have a solution.”
Mr. Lid remains dedicated to its manufacturing operations in Wisconsin. The company plans to increase its production capacity in the state in the coming months. Musaev declined to share more specific information as this time.
“There is no interest in moving the manufacturing from Sussex IM,” he said.
The company will continue to unveil new products and recently launched a lineup of two bento boxes, expanding its lunch offerings just in time for the start of the new school year.
Getting Mr. Lid products in big box retailers is still a long-term goal for the company, although Musaev said he’s shelved the idea for now until he’s comfortable with how much he has grown the brand’s following.