NDAs in the Beauty Industry

Beauty Brands’ Procurement Problem

Article written by “Beauty Brands’ Procurement Problem” by Kacey Culliney and Jane Carlson

This article highlights the challenges emerging beauty brands face in the procurement process. The article details how Lin Chen, founder of Pink Moon, had to switch from a third-party logistics (3PL) provider due to poor service quality and found success with MicroBeauté through a referral. It discusses the beauty industry’s rapid growth, emphasizing the importance of solid procurement programs amid rising competition and sustainability demands. Nader Naeymi-Rad of Beauty Independent points out the shifts in the industry, noting how acquisition has become a primary strategy for larger companies to access new opportunities. The article also features insights from various industry leaders on navigating the complex supplier landscape, emphasizing the need for strong vendor relationships and thorough vetting processes.

International Products Group’s (IPG) Involvement

International Products Group (IPG) plays a significant role in the article, illustrating its dedication to partnering with founder-led brands despite the inherent risks. Co-founder and CEO Bob Goehrke likens finding the right manufacturing partner to online dating, stressing the importance of alignment in values, innovation, and long-term goals. IPG’s decision to exhibit and sponsor Uplink Expo underscores their commitment to connecting with emerging brands and offering turnkey solutions. Goehrke highlights that while IPG also serves Fortune 500 brands, their greatest value lies in helping new brands achieve their potential. The emphasis on IPG’s involvement reflects their strategic approach to fostering meaningful, long-lasting partnerships with emerging beauty brands, positioning themselves as a pivotal player in the industry’s evolving landscape.

Procurement
By Published On: June 17th, 2024Categories: News

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