In the second learning module from Yellowbrick, WWD Beauty Inc and Fashion Institute of Technology, industry executives discuss the most strategic ways to navigate new products.
Considerations range from logistical to legal, too. “The difference between a beauty product and a drug is simply the fact that the FDA regulates what’s considered a drug, products like sunscreens and acne products,” said Ron Robinson, cosmetic chemist and founder of. “Those are regulated by the FDA, so the skin care company or beauty company has to use certain ingredients that are approved by the FDA at certain levels.
For some founders, product development is a natural extension of the needs that jumpstarted their brands. “New brands are launching every single day and it really becomes, at the end of the day, that this person’s vitamin C serum is not that different from that person’s.
To that end, Elizabeth Forsyth, chief executive officer of Sheencolor USA, a cosmetic manufacturer, said that “it’s really critical to a brand to pick their supplier based on their own personal needs for that brand. If you’re an indie brand, you want to find a supplier that can work with you on the development of the entire package, and probably including the secondary package, such as your folding carton.
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