Skip to playerSkip to main content
  • 5 minutes ago
When Beyoncé Knowles-Carter was building Cécred, some interested investors questioned how much of the budget went to research and development.

Ms. Tina Knowles told Ellie Austin on Fortune Daily that's why her daughter, who is deeply involved in every product decision, chose to fund the hair care line herself.

Category

🤖
Tech
Transcript
00:00We talked to investors in the early stages, but when it got down to them looking at our budgets,
00:06the largest part of our budget goes into research and development and testing. The investors just
00:11didn't like that. They wanted us to put more money into marketing and less into the product. She
00:17decided, I'm just going to fund it myself, which is crazy expensive. And I was like, you know,
00:23do you know what you're getting into? And she said yes, because I don't want anybody telling me
00:27that I can't put the money into research and development. Everything would have to be
00:31approved. The whole game changed when it was time to sign the paperwork. We just launched in London,
00:37Space & K, and we're the biggest ever launch that they've had. We are one of the top companies at
00:44Ulta. It's been unbelievable. And the best part about it is that our clients, our customers,
00:51they've done the marketing for us. You know, if you notice, Beyonce is not in any of the ads.
00:55She's very, very involved in every single product, every single, everything we do. But she didn't
01:02want to be the face of it. That was intentional. Yeah, it was intentional.
Comments

Recommended