Face Value
A cosmetics entrepreneur aims to give customers what they need--a clear complexion at an affordable price.
Vital Stats:
Seth Ratner, 28, founder and president of Noodé Skincare in
New York City
Company:
Skin-care line for women
Estimated 2003
Sales: $2.5 million
Content Continues Below
Executive
Wash: As a car wash entrepreneur during college, Ratner so
impressed one client that the client arranged for him to meet with
the owner of Zirh Skin Nutrition. Though Ratner knew nothing about
skin care, he plunged headfirst into learning about the industry as
Zirh's vice president of new business development. Realizing
his talent and passion for the business, Ratner struck out on his
own with Noodé in 2001, shortly after Zirh was acquired by
Shiseido Co. Ltd., Japan's largest cosmetics company.
Forever
Young: Ratner set his sights on the market of 15- to
29-year-old females, developing a skin-care line sold in department
stores but with a lower price point than the heavy hitters.
Focusing on problematic combination skin rather than age defiance,
he says, "The goal behind the brand was not just to stay in
the younger arena, but to eventually break out through the quality
of the products. A younger consumer buys the body oil, and her
older sister or mother asks [to] try it and winds up falling in
love."
"I
consider my demographic the high school/college 'I have my
first job and like to shop for good things but don't really
have the money' category."
|
All About Me:
"I wanted the brand to be a fine line between fun and cool,
without being a novelty item," says Ratner. Coining and
trademarking the term "Generation Me," Noodé's
products have humorous, even risqué, names like Scrub Me
Gently, Clean Me and Rub Me.
Take Notes:
Now teaching an entrepreneurship class at Hofstra University in
Hempstead, New York, Ratner helps students realize their dreams and
gets feedback on his products, too. He's already created two
new products based on the input.