Right-sized cosmetics with Stowaway Cosmetics…
Julie Fredrickson (Co-Founder and CEO of Stowaway Cosmetics – bio) joins hosts Regina Gwynn (Co-Founder/CEO of Tressnoire), Stephanie Betzler (Digital Strategist of Trendalytics) and Marc Raco (Host of Fashion Is Your Business, CCO of Open Source Business) for the premiere episode of Beauty Is Your Business.
A “duh” idea, a big win, and fundraising
Starting with a right (fun) sized Snack Time, Fredrickson shares evolution of meaning of company name, the process from conceiving starting the company to business of today and recognitions and accomplishments. Digging deep into unit economics of business, and a “duh” idea. Expiration of cosmetics, vast majority of women know they are using expired makeup. Turnaround on industry view of the right sized cosmetics concept, what the makeups think women wants vs. reality, winning (and sharing) Beauty Packaging’s Company of the Year against major brands changed everything, proof of listening to customers, why fundraising is like dating and why Stowaway was able to transcend the fundraising norm, at start of exciting time, the challenge that men don’t see the idea as an obvious need.
Expansion news, gifts sets, and customer feedback
Exciting expansion news, moving from direct to consumer to retail, and why that was possible so soon, and why they started with Blue Mercury. Thinking as solutions first vs. shelf first. Combined Stowaway retail knowledge with Blue mercury merchandising knowledge, good partnership. Other possibilities with gifts sets bachelorette parties, wedding showers etc., purposefully heading down gift set orders.
How editorial attention has created an image different from perception of current capability. Incorporating customer feedback into products by necessity, and systematically developing based on that feedback, and how an internal solution for data flow drives strategically designed products. The challenge with developing concealers. Considerations based on operational debt due to increasingly larger orders, and overcoming the challenge of a potential second mover advantage.
Finishing cosmetics, Star Trek inspires, and the first makeup moment
In a round of “Hitting Pan” (deeper, personal questions), the one product Fredrickson ever finished, the embarrassing time she ever used makeup, how Star Trek is a major inspiration, and the best new ad campaign ever.