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Lean product
development in luxury   Making cosmetics 13th March
                        2013
         cosmetics
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
Thinking of launching a range? The bad
news....
• Cosmetics is a very very competitive space

• Several large players that dominate the market and the distribution
  channels with huge marketing budgets
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 aren't
  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
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
Getting your idea to market...fast and on
budget
• 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
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 ingredients
Spread ingredients over a number
                                  at the right % so you can make
 of products, focus on 2-3 max
                                            strong claims

Use the same component shapes     Don't 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
How we can help
• Business planning

• Ingredients research and
  selection

• Packaging sourcing and
  realisation

• End to end new product
  development

• Mentoring

Contact:
 laura@goodventures.co.uk
   www.goodventures.co.uk

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Making cosmetics 2013

  • 1. Lean product development 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 bad news.... • 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 aren't 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 on budget • 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 ingredients Spread ingredients over a number at the right % so you can make of products, focus on 2-3 max strong claims Use the same component shapes Don't 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 • Mentoring Contact: laura@goodventures.co.uk www.goodventures.co.uk