Sells Smells
Submitted by Atlas Indicators Investment Advisors on September 18th, 2024
The scent of a Crayola crayon is as iconic as the vibrant masterpieces they create, hung with care using magnets and refrigerator doors. Atlas President Emeritus, J R Capps, sent me an article about the colorful sticks, and I could immediately sense that unique smell. It was like a time machine transported me back to a more carefree age when the biggest concern was staying within the lines.
So, what was the article about? Crayola was recently granted a patent for the distinctive aroma that is unlocked each time a box of their crayons is opened. According to this article from Bloomberg, the effort was far from child’s play. Instead, it required a team of attorneys and an appeal process. They even offered samples of their crayons and those of their competitors to confirm the unique bouquet. At some point, they may have brought in some professional noses to come up with descriptions like, “slightly earthy soap with pungent, leather-like clay undertones.”
While one might not argue they are endless, imagine all the potential uses. It might be the next fragrance offered when you get your car washed; a crayon-shaped rearview mirror air freshener. Or what about a nostalgia-inducing candle; after all, wax is the primary ingredient in a crayon.
At the end of the day, this patent is unlikely to change the world the way others have. Instead, it serves as a reminder of the American entrepreneurial spirit. Crayola has been owned entirely by Hallmark (a privately-held company itself) since 1984 when it bought the brand along with the rest of Binney & Smith for about $204 million! The producer of heartwarming cards reminds us all that there is money to be made in America outside of the digital realm.