If you are in the early stages of launching a cosmetic line, we’ve provided five ways to build a global brand from the beginning. Working with cosmetic and skin care companies, retailers and raw material suppliers of all sizes, we know it pays to think ahead. A little more effort now will pay off, saving major time – and money – when you’re ready to move into new markets. Here’s what you need to know:
- Determine all target markets: Too often, brands start out focusing solely on their domestic market – planning to figure out their next move down the road. But that can cause major disruptions if you discover an ingredient isn’t compliant in a new jurisdiction. The Ithos Information Network (IIN) can evaluate your formulation against current and future market requirements, so when the time comes, you’ll be ready.
- Prioritize Ingredients: By evaluating ingredients in all potential markets, you may learn that something works in say, the US, Canada and EU, but not in China. With that information, you can decide whether it is worth it to find an alternative – or adjust your sales strategy to those compliant jurisdictions. Ithos’ Formul8 tool provides a snapshot of each ingredient and its alternatives.
- Store and Organize documentation as you go: Too often, sales take off and brands are ready to move into new markets, only to face delays because they don’t have up to date documentation on hand. It is much easier to gather as you go – especially if you are using a contract manufacturer. Our Document Vault stores and organizes your documentation, making it easy to update and replicate across product lines. And our Supplier Outreach services can collect, review and fill in documentation gaps for you.
- Consider corporate social responsibility: From sustainable raw materials to recycled packaging, today’s consumers expect cosmetic and skin care brands to demonstrate good corporate social responsibility (CSR). Sustainable products and packaging are increasingly common requirements to sell in certain states and countries. Using social media, more customers are seeking out – and sharing – brands that align with their environmental values. Build a global brand from the beginning by implementing CSR best practices from the start.
- Stay on top of changing regulations: States, countries and jurisdictions like the EU are constantly updating and adding regulations that pertain to chemicals of concern, sustainability, product safety and more. Five years is a lifetime in cosmetic compliance, and things could change drastically by the time you are ready to move into a new market. Constant monitoring is time-consuming, so many companies rely on the Ithos Information Network. Updated quarterly, the IIN’s managed content databases will automatically flag any updates affecting your product portfolio – before you launch in a new jurisdiction.
Starting a new cosmetic or skin care brand isn’t easy. Planning ahead can help you build a global brand from the beginning, so you are ready when it is time to grow. At Ithos, our team of experts and compliance software solutions save time and money – so brands of all sizes can launch in new markets faster. Contact us today for a customized demonstration of how the Ithos Information Network can help you.