Jack Crivici-Kramer

Why is cosmetics so expensive in the first place?

Or beauty in general.

Very high gross margins, meaning

Huge markups.

This reminds me of a takeaway I did, one of my favorites.

The beauty industry really captures it, but where there's mystery, there's margin.

There's a lot of mystery in the cosmetics industry.

Mm-hmm.

But Trank, you're also literally in the comment section.

Like Jack's saying, there's R&D, research and development.

And then we say there's S&D, scrolling and development.

Can you give us an example of when you guys may have noticed comments and then innovated a product from there?

And how does that compare the hit rate of that kind of a product to one you developed on your own in-house?

So are there any particular examples of like a product that comes to mind for you where you're like, wow, we wouldn't have thought of that unless people started mentioning it on Instagram?

To clarify...

Power Grip Primer is the most sold cosmetic product in the United States.

You buy a wide margin.

Wow.

No way.

Well, when it comes to making decisions as a CEO, Terang, Jack and I are always curious how a top executive does this.