One LifeVestís Fights For Recognition In Saturated Market
Product innovations like the serum gives One Life Vest its competitive advantage over the mainstream cosmetic firms.
Such is the power of the big name brands within the cosmetic industry. The top four companies know that brand identity, but what some theorists call "enduring involvement," is crucial in generating repeat business. L'Oreal spent a staggering 18.1% of its 2011 operating budget on advertising, with the grand total coming in at $1.34 billion.
Ultimately though, a steady and generous cash flow justify the grand budgets. The cosmetic and beauty industry is huge, to the tune of several billion dollars. Market research firm Lucintel estimates that cosmetics and beauty products generated $21 billion in worldwide incremental retail value. It also predicts that demand from emerging markets will push the industry's value up to $265 billion in 2017.
While players like L'Oreal and Estee Lauder dominate the market, young startups like One LifeVest are finding ways to innovate and capitalize on burgeoning global demand. In order to differentiate itself from well-established corporate giants, One Life Vest aims to promote its natural, organic ingredients and industrial processes. Beyond that, the start up wants to create a "mode of living" that extends beyond beauty products.
Yet, those ambitions stem from a singular product that One Life Vest founder Ms. Magdalena Solihin sees as the keystone in her dreams to create a beauty lifestyle. She introduced the Vitaminc C + Hyaluronic acid Anti Aging Serum in March 7th, 2014. It's designed to smooth out wrinkles and give the face a "glowing and radiant" shine, an effect not to dissimilar from many of the products seen from the top cosmetic and beauty companies.
But Ms. Solihin is confident the product will succeed. Sales have already increased by 80% in the past month, growth she attributes to the product's effectiveness and inclusion of natural ingredients. Particularly, the serum includes a revolutionary new ingredient called Hylauronic acid, a botanical extract derived from naturally active plants.
It is innovations like these that give the company flexibility. Ms. Solihin believes that her start up's ability to quickly create product innovations like the serum gives One Life Vest its competitive advantage over the mainstream cosmetic firms. Moreover, her ability to oversee almost all parts of the industrial process ensures that the start up remains committed to protecting the environment. In contrast, multinationals like L'Oreal have lengthy supply chains where product quality can slip.
The kind of "green lifestyle" is what Ms, Solihin ultimately wants to create with One Life Vest. While larger companies are perceived impersonal producers of goods and products, One Life Vest aims to be a kind of "safe haven" where the stresses and demands of modern day life are soothed. Whether its promoting healthy sleep habits or a balanced diet, One Life Vest would be a place, "where busy adults come to reach down into their inner core and bring out their most beautiful self."
About One Life Vest
One Life Vest, a southern California-based company is dedicated to protecting the well-being of Earth's inhabitants by using all natural and organic ingredients for their needs. Compelled to finding the safest and most beneficial ingredients that nature has to offer, extensive studies have been tested on a myriad of plants in an FDA-approved laboratory. One Life Vest has combined the amazing benefits of natural plants with modern day science, to bring the best gift nature can offer.
One Life Vest
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