Kimmy Scotti, Co-Founder of Fig. 1 Beauty, Podcast Summary
This week Ekta talks to Kimmy Scotti, Co-Founder of Fig. 1 Beauty. Kimmy is an investor at a venture fund called 8VC, which opened her up to the business side of skincare and beauty, being a ‘long-time skincare enthusiast.’ But more importantly, she wanted to support a brand that was backed 100% by science and the goal of not only beautiful but healthy skin.
After looking through several brands in a year, she found that a significant issue in the beauty industry is not only the lack of clinical information on the products but outrageous pricing on brands that sport the value of ‘simple and clean ingredients.’
“As I look across the country, not everyone can afford to spend hundreds of dollars per skincare product. As I started drilling down into the actual cost of these products, it seemed that these brands were very greedy about their margins and didn’t necessarily need to be charging so much. So I was very interested in bringing down those costs and making active skincare products
more accessible from a price point perspective.” (Scotti).
She wanted to change the idea that for consumers to have beautiful skin, they not only have to sacrifice their health by investing in brands that care little to none about product formulation. But she wanted the average person not only to be able to afford the product but see and understand every ingredient and the scientific knowledge supporting it.
“One of the issues we have is with brands taking advantage of what consumers don’t know. I think that is not how we operate. We operate like the consumer, just like you, knows the science, and they will react to the product positively because they know we have their best interests and results in mind.” (Scotti).
Fig. 1 Beauty differs from most brands because from the packaging to the products, the consumer can see for themselves not only what is in each item but the amount of care that Scotti and her team put into relating to the average day person.
“We treat the consumer as smart as they are. So why not include the science on the packaging?” (Scotti).
Scotti believes in not only catering to the client but personally understanding their skin goals or desires. The most critical aspect of Fig. 1 is that the client is the leader in their skincare and health.
“In general, we believe in using the products you have is the most sustainable and if you’re happy with something we can sell you, instead we will recommend something that we think will enhance your routine and works nicely with the prices you are using.” (Scotti).
You can listen to the full episode here:
Authors: Remy Vidal & Jasmine Boskent
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