Miranda Kerr de Kora, Charles Gorra de Rebag on sustainability
For some time now durable was launched as a buzzword to describe products and businesses that do not harm the planet. But it can be difficult to discern which companies actually work. During the Fast Company Innovation Festival 2021 on Thursday, editor Amy Farley spoke with Kora Organics model and founder and CEO Miranda Kerr and Rebag CEO Charles Gorra about how they deliver Uncompromising premium experiences and products while presenting customers with more sustainable forms of consumption. .
Kerr was one of the first pioneers in the field of clean beauty. The products of his 12-year-old company are now sold in 30 countries. The brand does not make unverified claims, but rather relies on a third party entity to ensure that its formulations and packaging are certified organic, a way to ensure quality standards and an effective business strategy. “I really think education is the key. That’s what I’m trying to do, ”Kerr said, noting that“ consumer studies and clinical trials [are an effective way] to really show the results visually.
Gorra, meanwhile, has made it his mission to develop the second-hand market for high-end products. After working at Goldman Sachs and investment firm TPG, he said he became interested in the retail landscape when he joined clothing retail and resale startup Rent the Runway after graduating graduated from Harvard Business School. He noted that one of the things that sets Rebag apart from other resale platforms is the authentication process.
“Most of the existing platforms tend to be peer to peer, like Poshmark,” Gorra said. “Our belief is that on the luxury side, buyers and sellers need a lot more services. “
Unlike other resellers, Rebag only offers 50 brands and sells products with prices ranging from $ 200 to over $ 20,000, but Gorra said the luxury market presents a huge opportunity. “Only one in 10 owners of a luxury product actively re-exchanges their products, which leaves you with 90% of people who have luxury products that are not traded,” he explained. . “We think that’s where the big opportunity lies. And if you fast forward 5, 10, 15 years, this behavior, which we are already starting to see, will eventually become completely common. “