Making cosmetics 2013
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Making cosmetics 2013 Presentation Transcript

  • 1. Lean productdevelopment in luxury Making cosmetics 13th March 2013 cosmetics
  • 2. Who are we?• Development team behind NUDE Skincare• Combined 20+ years of experience in creating and launching natural personal care ranges• 2 brands owned and developed in house• Numerous consulting projects helping others do the same
  • 3. Thinking of launching a range? The badnews....• Cosmetics is a very very competitive space• Several large players that dominate the market and the distribution channels with huge marketing budgets
  • 4. The good news....• It is possible to enter in the market as a small player with a low budget• Customers and buyers love niche and new• The large incumbents are seldom innovative and small niches arent attractive to them• We win by 1. having a unique idea in a niche segment, 2. executing really well within budget 3. staying one step ahead of the competition
  • 5. How lean development thinking applies• Minimum viable product • Get your idea to market as quickly as possible • Be smart about where to save and where to splurge• Refine with market feedback • Know your market, if possible be your market • Test test test, with real customers • Evaluate and refine until it is perfect • Only then, roll out to 3rd party distributors / large scale distribution
  • 6. Getting your idea to market...fast and onbudget• Plan as much on paper as possible before lab work begins • Brand presentation • Business plan • Budgets for packaging and formulations • Copy and lab brief for each product• Development partner you can trust. Long term relationship• World class project management
  • 7. Where to save and where to splurge Save Spend Choose a unique brand and Get an expert to do outline register your own trademarks searches in key markets Use a freelance designer to do Get a brand specialist to do your artwork brand identity Use high performance ingredientsSpread ingredients over a number at the right % so you can make of products, focus on 2-3 max strong claimsUse the same component shapes Dont skimp on look and feel of a across multiple SKUs premium product Do your own social media Get a small PR agency involved for engagement a reasonable budget
  • 8. How we can help• Business planning• Ingredients research and selection• Packaging sourcing and realisation• End to end new product development• MentoringContact: laura@goodventures.co.uk www.goodventures.co.uk