LOS ANGELES—The sexual health and wellness industry has recently experienced merger and acquisition shifts which also reflect movement in other private industries. Venture capital funded company, Hello Cake, added the well known legacy brand, Wet Lubricants, founded by Michael Trigg, to its lineup of branded products, sold primarily at mainstream department stores.
While the sale took many people by surprise, Wet had been private labeling lubricants for Cake for quite some time, developing a solid relationship with the company along the way. Michael Trigg shared, “When they decided they wanted to bring manufacturing in-house as part of their growth plan, it was just a natural fit.”
Wet established itself back in the day, in 1989, which Michael noted, “It’s wild to think we launched the same year the Berlin Wall fell, Tiananmen Square shook the world, and the Exxon Valdez spill hit the headlines. It was a pivotal year, and here we are, still going strong.”
According to Michael, “It was also the height of the AIDS crisis, and condom use was skyrocketing. Lube was a game-changer for safe sex because it helped keep condoms from breaking and I knew people would need it more than ever, so I figured it was the right time to jump in and meet that demand.” He added, “We were riding the wave of a public health shift.”
At the time, the personal lubricants available in retail adult stores were often commonly accessed medical products familiar to customers because their doctors used them for exams, or the lubes were packaged in cheap, unappealing plastic bottles. None of the brands available at the time promoted the enjoyment of sexual escapades or the fun these encounters could provide by using lubricants specifically created for sex. “So, I created Wet to fill that gap. I wanted to offer something that people could feel good about buying—something fun, modern, and elegant—and with way more variety in formulas and sizes than anything else on the market at the time,” Michael reminisced.
As with any legacy company, many external changes have impacted the personal lubricants industry over the course of many years that Wet has been in business. Michael feels one of the most significant changes happened in 1998, when Sex and the City hit HBO, which not only impacted the lubricant sector but also the sex toy industry as a whole. As Michael noted, “It wasn’t just a show; it was a full-on cultural revolution. Suddenly, women were openly talking about sex—something that had been pretty hush-hush before.” He continued, “For the adult industry, that was huge. Women felt empowered, walking into adult stores, and exploring products without the old stigma hanging over them. That shift from shame to empowerment really changed the game. It brought sexual wellness into the mainstream, and we saw our customer base explode because of it.” He proudly continued, “We went from niche to necessity.”
One of the biggest rewards an entrepreneur can experience by selling their business is finally having the time to relax and enjoy life, without the responsibilities of day to day work. Michael happily shared his plans for his newfound freedom. “I’m more than ready to say goodbye to the 24/7 grind. At 65, it’s time to slow down and enjoy life. The only work I want to keep up with is managing my investments.” He continued, “First and foremost, I’m focusing on my health—I’ve pushed myself hard for decades, and that kind of hustle can take a toll and I’m starting stem cell therapy to undo some of the wear and tear. I’ve also been inspired by successful entrepreneurs who say their happiest years come when they transition into philanthropy.” Now that Michael can join those who preceded him, he added, “That’s my next chapter—giving back in a much bigger way through my nonprofit.”
