Inc. 500 Reveals America’s Fastest Growing Private Companies

October 01, 2003

Vitacost.com Ranks #303 on the 2003 Inc. 500 with Five-year Sales Growth of 586%


Boynton Beach, FL (October 1, 2003) – Inc. Magazine, the premier publication for small and medium-sized businesses, today released its 23rd annual Inc. 500 ranking of the fastest-growing private companies in the country. Vitacost.com, a leading direct-to-consumer catalog and online discount retailer of vitamin, nutrition and low-carbohydrate diet products, ranks #303 on the list, with five-year sales growth of 586%.



This is the third year that Vitacost.com has earned a place on the Inc. 500 list. Founded in 1994, Vitacost.com carries approximately 6,000 health and nutrition products provided by nationally known brands as well as products developed by its wholly owned subsidiary, Nutraceutical Sciences Institute (NSI).


"When Wayne (Wayne Gorsek, Chairman and CEO) and I sat down to create the concept of Vitacost.com, we knew we had to stand out from the competition,” says Allen S. Josephs, M.D., a practicing neurologist and President of Vitacost.com. “We decided to provide customers with the highest quality products at the lowest prices with a money-back guarantee. We also offered product reviews through lab analysis, as well as scientific information to explain the uses and benefits of each product."


Sales in 2002 surpassed $11 million, and Mr. Gorsek attributes that to “making the customer the CEO. We answer to the customer – and we offer them what they want.” The company also has a Scientific Advisory Board, made up of medical doctors, that helps the company create and review products.


To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2002, have had at least $200,000 in sales in the base year of 1998, and their 2002 sales had to exceed 2001 sales. Inc. verifies all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.