Launching Formulary Maison: India’s first luxury beauty and wellness club
Launching Formulary Maison: India’s first luxury beauty and wellness club, which brings the most cutting edge global formulations and technologies to Indian customers while completely eliminating retail markups.
The beauty industry has a secret. As insiders who have been working with skincare / beauty brands and suppliers for the 7 years, we observed that the cost of actually making the formulations is hardly 10-20% of the price being paid by the consumer at the retail shelf, with almost everything else being consumed by retail markups [middlemen like retail chains or ecommerce platforms], celebrity endorsements and fancy packaging. We also saw that almost all new innovation was coming through ingredient suppliers, beauty labs and forward thinking manufacturers who would innovate and come up with new formulations, which are then shopped around to brands, who launch them.
This led to a realization that there is a possibility to build a new and more honest / transparent business model which can not only slash the prices for consumers (and hence make luxury products more affordable), but also cut down the time from innovation to shelf and help the labs/manufacturers capture a larger share of the consumer spend.
And to make this reality, we are today launching Formulary Maison, a high end member’s club which works with the world’s best skincare/makeup labs and manufacturers to source the latest and most efficacious products (think expensive ingredients like marine algae, prebiotic / probiotic ferments or the latest delivery mechanisms like liposomal, nanosomal, microneedling etc) and provide them to our members without the hefty markups.
Our model is a win win for all stakeholders
Consumers - Consumers get access to the latest and most effective luxury products at prices which are 50-70% off retail. These are scientific ingredient led products, which offer high efficacy and proven clinical results
Beauty Labs/Manufacturers - The labs and manufacturers, who are often the source of innovation, capture a larger share of the retail consumer spends than in the traditional multi layer retail system, which is prevalent today
Retailer (which in this case is Formulary) - We get loyal repeat customers which allow us to optimize our costs and focus less on marketing and more on product development
If you are a beauty enthusiast, who loves luxury beauty and is looking for efficacious scientific products, we will love to have you as a member of our community. This is a vibrant space, with multiple activities like educational sessions, makeup classes, and general themed catch up events. We intend to build not just a new age retailer, but a passionate tribe of members driven by the principles of science, honesty and transparency.
