Latest / Bloomberg Intelligence / Skyler's Wahlgren on Anti-Aging Neuropeptide Skin Care (Audio)

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Skyler's Wahlgren on Anti-Aging Neuropeptide Skin Care (Audio) · Bloomberg Intelligence

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  Speaker 1: at something with a sixteen hundred dollar price tag PAIM.
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  Speaker 1: and recapping now. Industrial average is up twenty five point
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  Speaker 1: the Lux Life on Bloomberg Radio, The Lux life well.
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  Speaker 1: One area of luxury is skincare younger consumers who are
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  Speaker 1: more aware of the value of taking care of their skin. Indeed,
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  Speaker 1: it is also a global business, estimated to reach about
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  Speaker 1: eleven billion dollars by twenty eighteen. Here to tell us
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  Speaker 1: more about the industry and about a specific product is
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  Speaker 1: Paul Walgren. He is managing director of Skylar Brand Ventures
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  Speaker 1: and he joins us now. Paul, thanks very much for
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  Speaker 1: coming and appreciate it. Thanks. Thanks. Before we get to
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  Speaker 1: the details of Skylar Brand and so, I'm just offering
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  Speaker 1: maybe you could share some details of your previous experience,
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  Speaker 1: because you've had luxury experience plus consumer products, tell us
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  Speaker 1: about it. Yeah, I sort of grew up as a
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  Speaker 1: retailer at the age of fourteen years old and spent
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  Speaker 1: early part of my life running retail stores in the
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  Speaker 1: consumer electronics industry, and later in life moved to Europe,
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  Speaker 1: did my m b A and basically fell into uh,
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  Speaker 1: the luxury goods industry over the last fifteen eighteen years,
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  Speaker 1: in the watch and jewelry industry in the U S
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  Speaker 1: and globally. How did you start running stores at age fourteen?
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  Speaker 1: My friend, Luckily I rode my skateboard down the street.
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  Speaker 1: My brother was working at the store, and they pulled
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  Speaker 1: me in and said, you want to start sweeping the floors,
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  Speaker 1: and I said sure. And then eventually I became the
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  Speaker 1: talkative little salesman, and uh wind up being one of
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  Speaker 1: the top sales person sell through high school and college
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  Speaker 1: and and wand up working for the company for sixteen years.
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  Speaker 1: And it started really give me the base of customer
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  Speaker 1: service and taking care of customers. What is a neuro peptide?
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  Speaker 1: Peptides or proteins as we know, but a neural peptide
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  Speaker 1: works a little bit on a deeper level. UM to actually, uh,
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  Speaker 1: actually relax. I don't want to go too far into
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  Speaker 1: the technical part of it. I'm not the scientist. But um,
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  Speaker 1: there's a range of him in our product that basically
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  Speaker 1: work on the skin and help basically, UM, calm the skin,
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  Speaker 1: help it repair itself. UM. A lot of functions that
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  Speaker 1: these these new peptides do in skincare products. Today, I
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  Speaker 1: misspoke on the price tag. It's a hundred sixty dollars
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  Speaker 1: or rather than sixteen hundred for one of your UM
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  Speaker 1: for a racer right correct eras XP thirty. Yes, Uh, however,
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  Speaker 1: and actually, when you think of luxury and what people pay,
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  Speaker 1: that's to me like bargain luxury. Honestly, I think it
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  Speaker 1: is how a lot of people look at although for
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  Speaker 1: a lot of people like a hundred sixty bucks, Come on,
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  Speaker 1: that's way too much. I could get a I could
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  Speaker 1: I could go to Sephora and get a great product
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  Speaker 1: for half or a third of that price. What makes
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  Speaker 1: this special and what is the response? What is it
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  Speaker 1: only high end customers buying it? What's response been over
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  Speaker 1: the last year since you launched, well, we launched an
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  Speaker 1: exactly a year ago. The response has been amazing. We um.
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  Speaker 1: We are considered what they called prestige anti aging in
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  Speaker 1: that category as opposed to what they call mass. So
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  Speaker 1: it is a price point, you know, which again for
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  Speaker 1: the average consumer is on the higher end side. But
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  Speaker 1: what we did is before bringing to market, we did
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  Speaker 1: a tremendous amount of clinical UH studies UM and actually
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  Speaker 1: proved before we even put on the market for the
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  Speaker 1: product actually works well. UM. We really try to punch
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  Speaker 1: above our weight, act like biotech and pharma. Being yet
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  Speaker 1: a cosmetic skincare startup UH and priced it reasonable. We
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  Speaker 1: didn't want to play the game. But the consumers pricing
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  Speaker 1: at four or five dollars, which we quite only could
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  Speaker 1: have priced it at that in competitive you know landscape
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  Speaker 1: of what's out there, but we wanted to price at
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  Speaker 1: a level that consumers felt very comfortable, you know, using it,
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  Speaker 1: and we gave it a larger supply. It's about a
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  Speaker 1: two months supply, so in the end it's quite reasonable
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  Speaker 1: for the time that it actually works. This is aimed
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  Speaker 1: for men and women. Well, obviously any aging is always
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  Speaker 1: sort of focused on women, and I'd say this is
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  Speaker 1: probably focused women thirty five to seventy or anywhere in between.
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  Speaker 1: But of course men pick up on it because we're all,
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  Speaker 1: you know, concerned about aging and skin is skin. At
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  Speaker 1: a certain level, it's the competition injectable of products designed
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  Speaker 1: to smooth out ring goals. I mean, is that the
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  Speaker 1: competition that you face, Well, obviously that's im Now you're
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  Speaker 1: talking about the what it called the prescription or FDA
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  Speaker 1: side of it, were cosmetic. Um, Yeah, I would say
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  Speaker 1: we do somewhat compete in away against that that level
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  Speaker 1: because our product mimics some of the effects of that
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  Speaker 1: and it works. Are clinical studies, the product works within
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  Speaker 1: two weeks we were we got an average of sixty
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  Speaker 1: four percent reduction of lines and wrinkles within two weeks,
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  Speaker 1: which is amazing for a skin care product. We have
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  Speaker 1: the UM some people who have been in the industry
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  Speaker 1: for thirty or forty years, they've never seen results like that.
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  Speaker 1: And even the testing lab came to us while we
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  Speaker 1: were in the clinicals and told us you've have something here,
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  Speaker 1: and we knew we were onto something very special with
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  Speaker 1: this product. So this is luxury where you know, we're
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  Speaker 1: saying affordable luxury for a lot of people, right and
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  Speaker 1: and you said you could have sold us for a
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  Speaker 1: much more four or five hundred dollars, So what is
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  Speaker 1: So what is your goal? Is your goal to to
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  Speaker 1: have a luxury product that has a mass market? Are
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  Speaker 1: you going to introduce more products? How does this to
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  Speaker 1: all up? Well? The product right now? Over the last year,
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  Speaker 1: we've really tried to set a base. We sell sold
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  Speaker 1: directly e commerce UM and we wanted to build out
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  Speaker 1: really the base of people using it. And since it
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  Speaker 1: works so well, we have and this surprisingly a very
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  Speaker 1: high repeat purchase rate of over so that it's not
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  Speaker 1: us saying it, it's the market telling us also we've
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  Speaker 1: received tremendous sort of I would say, um support from
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  Speaker 1: it from editorial side because we won the allub Breakthrough
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  Speaker 1: Award in October. Uh was featured on The Today Show
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  Speaker 1: to millions of people. So the product really is you know,
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  Speaker 1: it's it's it's building its street cred from not what
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  Speaker 1: we say about the product, what the market says about it. Um. Yes,
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  Speaker 1: we're growing that part of the business where we have
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  Speaker 1: more products coming and we just entered our first retailer
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  Speaker 1: here in New York City with Clyde and Madison Avenue. Well,
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  Speaker 1: congratulations to you. Paul Walgram, managing director at Skylar Brand Ventures,
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  Speaker 1: talking to us about ERASA x EP thirty on bloom
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  Speaker 1: Big Radio. Coming up on taking stock, the SMP five
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  Speaker 1: hundred is up about two and a half percent so
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  Speaker 1: far this year. Should you invest money in stocks now?
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  Speaker 1: We'll find out. Taking stock continues