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Letter to Our Fellow Dreamers and Makers

March 9, 2021

After many years leading and operating some of the leading consumer, beauty, and wellness brands in the world, we took a leap of faith and walked away from the security of a steady paycheck, the conviviality of the company cafeteria, and the after-work consoling drink in the local bar. But we gained the thrill, the freedom, and the responsibility of stepping out as entrepreneurs for entrepreneurs. To make our own way in the world.

A world that some say is being “disrupted” (and by “the world”, we mean “our world”: the world of consumer brands) in tremendously exciting, fast-moving, and at times scary ways. Many brands are launching, business models are being reinvented, and billions of dollars of capital are being poured into the industry. Our belief, however, is that the more this world changes, the more the fundamentals stay the same.

Clever branding, PR-polished “founder stories”, or media spending can’t replace what you actually do and what you actually make. The soul of a brand is built into the fabric of a company: what you produce, where you produce, who you employ, and how you conduct your business are these fundamentals. In business, and particularly in our chosen business: the beauty and wellness business, details are not just details.

So yes, enjoy all the fun and excitement of the initial steps to entrepreneurship, but do remember that it’s the logistical, behind-the-scene strategic and financial decisions that will define your enterprise and ultimately your success:

* Where should I produce? Is provenance important?

* What is the right cost structure to make money long-term?

* How do I translate my desired brand and product attributes into technical specifications that factories can manufacture and consumers can experience.

* Where does it make sense to use off-the-shelf business services and where should I create my own?

* When is the right time to list my products with retailers and how do I get a fair deal from them?

* How do I find my customers and how do I reach them more effectively?

* Do I have the right capital structure and management support to reach my ambition?

* How do I learn and be inspired by others who have taken this same road to independence?

We decided to build Waldencast to be of value to brands and entrepreneurs and help them navigate through these and many other strategic and operational questions. And we did so behind some simple principles:

* We invest in what we know, in what we are passionate about, and where we can add meaningful value based on our direct prior experience: Brands, Consumers, People.

* We have simple but important dreamer-maker values: ambition with humility, idealism with practicality, grit with empathy, vision with action.

* We want our business and our brands to be around in 100 years, so ethics, responsibility, and sustainability are at the core of how we operate.

So join us in this journey. Get in touch. We want to get to know you. We believe in karma, so even if we don’t invest and work together, we are always happy to help.


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