After six years in the cosmetic industry, Essentia, the specialized skin care company, has deduced that skin care products can and should be clientele-customized. As a result, Essentia has taken the decision to change the direction of the company towards client tailor-made products, to which they currently find themselves in the reorientation project phase. These cosmetics are regarded as “emotional,” in that the earthly aromas used are meant to provoke positive sensations.
KITE Invest: The core to Essentia is that your cosmetic line is tailor-made to each skin type, moving away from the pre-fabricated products that are made for the masses. How does Essentia guarantee that each product is specifically tailor-made for each client?
Pilar Valencia: In this next phase Essentia will be doing an exhaustive skin analysis of our clients with advanced technology, which will allow us to analyse the seven most important aspects of the skin: hydration, oiliness, spots, pores, elasticity, sensitivity and wrinkles. This analysis can be complemented by a DNA skin diagnosis as well. After all these exhaustive analysis, we will provide a detailed report to our clients, with our recommendation of the active ingredients that their skin needs. And of course, we will finally provide our clients with their customized cream: a cream with the most appropriate active ingredients based on their own skin. The report will also allow our clients to follow up how their skin evolves and improves with the lapse of the time.
We will carry out these skin diagnoses and provide the customized creams in our Skin Management Centres. Customized creams are accessible by Internet as well, using a pioneer technology for domestic use, which will enable clients to carry out their own skin analysis.
With a range of 30 active ingredients to choose from, we are able to provide more than 30,000 different customized formulas. This means that we are able to cover almost any skin issue.
KITE: What are the benefits of using tailor-made skin cream? And, what was the impetus for Essentia to focus on customized cosmetics?
PV: Due to the fact that 60% of the Spanish population, and 50% and 60% of the European and American populations respectively, have sensitive skin and need to use special products to take care of their skin, we wanted to help these people. Also, we want to help the rest of the population, as it is extremely difficult for people to find creams that fit 100% of their skin’s needs.
Our skin is constantly changing and reacting to many different intrinsic and extrinsic factors such as the wind, sun, air conditioning, pollution, diet, hygiene, genetics, hormones, as well as, psychological reasons such as stress, emotions, etc. This is why we believe skin care products should be adapted to each person and not vice versa as it currently happens in our market.
Pre-fabricated products are not able to adapt to our skin needs at each particular time of our lives. Customized cosmetics can.
KITE: As Essentia’s produces a niche brand that does not market the same product to the masses; please shed light on Essentia’s business plan and how this niche brand is profitable without having to reach the masses. Is there a target clientele that Essentia focuses on in particular?
PV: Our business model allows us to get the full loyalty of our clients thanks to the innovative and diverse services we can provide regarding skin treatment, covering all their needs from: (i) an exhaustive skin diagnosis with advanced technology, (ii) which can be additionally complemented by a DNA skin analysis, to (iii) developing a customized cream with the active ingredients each person needs and (iv) a final follow up of their skin evolution.
We have also developed an innovative manufacturing process, which makes our project scalable.
We will target ANY person who wants to take care of their skin in a SPECIAL way as we can provide more than 30,000 different formulas. We will however especially focus on:
- People with sensitive skin or some type of dermatological issues.
- Women who are especially careful about their health, image and our environment, as our products are made of natural ingredients.
- People under cancer treatments who require specific products to apply after the radiotherapy, pregnant women, sport women and babies.
- Men who look for specific products for their skin, bald men or men with beard.
KITE: As the company has already existed for six years, can you discuss the strategy and plan for the future? For instance, are there plans of expanding the products provided and also location?
PV: Our objectives are to create a chain of skin-management centres where our clients can receive the services mentioned before and also order their own customized products. We initially have been focusing on Madrid and the rest of Spain, with the eventual goal of moving into international markets.
We will also be developing a pioneer technology for domestic use, compatible with smartphones, which our clients can use to carry out a skin analysis themselves. This analysis will also enable them to acquire their customized creams by Internet.
KITE: Essentia has already achieved some significant milestones, such as, 30,000 different formulas for customized creams, a client database of 2,700, and all without funding. Essentia has never received any financing nor applied it to the business. At this time is Essentia seeking funding? And if so, what is the reason for investing at this time, and what is the return on investment for investors?
PV: We are currently seeking for a total finance of one million euros, which can be provided according to different milestones. Ideally we would like to find a partner with experience in the retail sector, who can add value to our project and help us to accelerate growth and commercialize our innovative idea.