The report cites the American Pet Products Association, which said Americans spent $60 billion on their pets last year, with more expensive, healthier food accounting for $22 billion, twice what it was in 2000.
Included in the CNBC report were Dogswell and Three Dog Bakery.
Marco Giannini started Dogswell in 2003, as a premium pet food company that makes dog treats infused with nutrients that can help dogs live a better life. His first product, Happy Hips, is meant to help fight arthritis and hip dysplasia.
In his first month, Giannini made $35,000 in revenue and, in the first year, the company earned $500,000 in sales. He now has accounts with Whole Foods and Target.
Giannini sold the company in 2008, when it had 21 employees, was listed at No. 101 on the Inc. 500 list, and was seeing annual revenue of $17 million.
Three Dog Bakery
Mark Beckloff and Dan Dye opened Three Dog Bakery in Missouri in 1989. It was one of the first bakeries exclusively for dogs.
The company has about 40 gourmet bakeries across the US, Canada and Hong Kong, with 10 more scheduled to open in 2015. Three Dog Bakery’s products are sold in pet stores and online retailers including Kroger, Pet Supplies Plus, Target and Wal-Mart. The company’s average annual sales are between $10 million and $15 million.
Other luxury pet brands featured in the CNBC report are:
- Barkingham Palace, a Palm Desert, California, USA-based boarding and grooming facility for birds, cats and dogs that offers the same amenities as a five-star hotel for humans.
- Pet Butler, the first pet waste removal service
- Petplan USA, an insurance company that covers more than 160 million dogs and cats in the US
- Doggles, a company that provides protective eyewear and other accessories and products for dogs
- Zoom Room, a dedicated indoor space for urban dogs to train, socialize and shop
- SimplyShe, which includes fashion and accessory lines SimplyDog, SimplyShe for Cats and SimplyShe for small animals