Function of Beauty’s chief executive officer Alexandra Papazian addressed the evolution of customization, sharing how the brand is using personalization to create efficacious products and a sustainable business model. She also discussed the corporate’s expansion into retail.
The hair care brand, which was founded by two MIT grads and a cosmetic chemist in 2015, “creates a completely customized regimen and a completely customized formula” based on a proprietary algorithm customer quiz, explained Papazian. To this point, Function of Beauty has developed 3 million unique formulations and Papazian said it's capable of manufacturing upward of 27 trillion.
The brand’s business model goals to satisfy consumer demand for targeted hair products, as NPD reports nearly 50 percent of consumers are willing to pay more...
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