Wellbeing
“Wellbeing will only get bigger”
Formulae Prescott Founder and CEO Pauline Prescott on streamlining skincare with clean and vegan multitasking products.
Clean, vegan and multitasking beauty brand Formulae Prescott has always adopted a ‘less is more’ approach to wellbeing. The brand, founded seven years ago by former ballerina Pauline Prescott, is represented with promising results in travel retail by Vincent McDermott’s TR Partners.
The brand already has a strong presence in UK & Ireland, with promising export growth internationally. For Prescott, travel retail is a key channel for the brand as travellers seek to streamline their travel skincare routines and demand for more sustainable products that do more while creating less waste. This is where Formulae Prescott comes in.
In this Q&A, Founder & CEO Pauline Prescott talks about the multitasking ethos that sets her brand apart amid a competitive perfumes & cosmetics category, the growing importance of Millennial and Gen Z consumers and what brands need to do to engage with them, and the wellbeing category’s upwards trajectory in travel retail.
Pauline Prescott
What sets your brand apart from other players in the wellbeing space?
What distinguishes us from others is our multitasking formulations. For example, the Tri-Balm is a hydrator, cleanser, moisturiser, exfoliant and face mask. By creating formulations that accomplish three or four tasks, we set ourselves apart as innovators in the wellbeing space.
How does your brand, and the wider wellbeing category, appeal to the next generation of travellers i.e., Millennial and Gen Z shoppers?
Millennial and Gen Z shoppers are the driving force of this category. Advocates, activists and conservationists such as Greta Thunberg are the pioneers and sustainability, ethics and conservation are very important to them. As the younger generations continue to dominate the retail space, their demands will encourage brands and retailers to change their packaging and components to have less impact on landfill and waste.
Formulae Prescott is all about creating multi-tasking wellbeing and beauty products that are good for both the skin and the planet
In your view, how can the new world of digital (from Metaverse to Web3) enhance the wellbeing experience?
The digital world is crucial in spreading the word about wellbeing and is the most prevalent communication channel on the planet. People can educate and inform themselves and education will only grow the demand for wellbeing.
The new world of digital presents remarkable opportunities to enhance the overall wellbeing experience. With AI tools and personalised experiences, technology can offer tailored wellness services, providing more individualised and accessible experiences. We envision leveraging digital platforms to create personalised wellness programs, integrating AI tools to provide tailored experiences for our customers.
Can you give us some insight into your recent performance in the channel?
Over the last 14 months we started working with 11 travel partners. We are incredibly excited about the future of our brand in the travel sector. As we continue to expand in this channel, we are committed to creating products geared for the travelling consumer and their needs.
Last year we were thrilled to be shortlisted for two products in the prestigious Frontier Awards and this year we were highly commended in the Star Beauty Product of the Year category with our hero product Tri-Balm.
“We are constantly wrestling with the challenge of scaling at the pace we want while maintaining our commitments to the planet”
What are the biggest challenges facing a wellbeing brand such as yourself in travel retail?
The biggest challenge for us as we evolve is growing reach. Scaling at pace is something we are focusing on to ensure that our partners are satisfied with our products and support. We are constantly wrestling with the challenge of scaling at the pace we want while maintaining our commitments to the planet.
What role do you think the health & wellbeing category plays in travel retail? How would you like to see the category evolve as part of the travel retail offer and experience?
We believe the wellbeing category is only going to get bigger. To address that, we are developing introductory kits that can be sold by travel retail partners as well as creating sample sizes to present to partners. We will be onboard various airlines with amenity kits, and in the terminal with travel retailers. As a CEO in this wellbeing space, I am absolutely focused on growing the brand and the wider category. I don’t feel there is an issue with growth in health and wellbeing because the macro-trends driving it are substantial.
Nutrition, conscientious skincare, taking care of one’s health and wellbeing are vitally important and this translates into every channel. We are, and always have been, a travel brand, which is why we believe that wellbeing is going to become a bigger category in the years to come.
As younger travellers continue to mitigate their impact on the planet, our goal is to help them reduce their footprint thanks to our focus on conservation, efficacy and innovation.
The Moodie Davitt eZine
Issue 330 | 22 December 2023
The Moodie Davitt eZine is published 14 times per year by The Moodie Davitt Report (Moodie International Ltd). © All material is copyright and cannot be reproduced without the permission of the Publisher. To find out more visit www.moodiedavittreport.com and to subscribe, please e-mail kristyn@moodiedavittreport.com