00:00That is the secret sauce of Sephora, I'll tell you.
00:02So, you know, if you take a step back and, you know, when Sephora first came to America in 1998,
00:08similar to me, it was a bit of an outsider.
00:10And, you know, a lot of the big strategics didn't want to work with us.
00:13You know, there was the big department stores.
00:15And so just by sheer survival, we had to work with these little indie brands
00:20and start in the kitchen and we would start early and we'd hear their stories
00:23and we'd be in there trying the formulations and give feedback.
00:26And any brand that's ever worked with us, I see one in the audience here,
00:29knows that we really love getting in there and getting in the kitchen.
00:32And that allows us to build a brand together in many ways.
00:36So you think about, you take for granted brands like Too Faced, Urban Decay, Stila,
00:40you know, these brands that were, you know, not household names 28 years, 26 years ago.
00:46So I think that to your question, it's really about getting in early.
00:50You know, I see a CMO of Rare Beauty here.
00:53And I remember our very first meeting, it was Goop in a Jar and Selena Gomez.
00:56And it was like, whoa.
00:58And, you know, and her passion for the Rare Impact Fund and her belief in giving back.
01:03And so we were like, wow, great founder, great team, good product.
01:06Wow.
01:07And they give back as well to an authentic cause that's very, very real to the founder.
01:12You could not ask for anything more as a merchant.
01:14Now let's get in the kitchen and figure it out together.
01:16Okay.
01:25So
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