Today, Aaron is discussing product development and the difference between creating custom and private label products.
When a company wants to make a product, they can approach an established company that already produces that item and have it branded with their own logo and name. This is considered a private label product. Aaron uses the example of razors, which are often manufactured and then branded in this way. While private label is a quicker and more affordable option, it comes with a lot more competition because there are hundreds of other companies offering the exact same thing.
TRY MEN’S SKIN CARE On the other hand, custom products are more expensive and time-consuming to develop and produce, but you actually get your own product and are able to create superior products that meet people’s needs. Aaron talks about why Tiege Hanley opted to take the route of custom cosmetics, specifically because they wanted to create superior, innovative and game-changing skin care. He discusses a little bit about the process of making custom skin care.
