Colette Laxton co-founded The INKEY List in 2018 to make skincare less confusing and has since sold over 90 million products worldwide.
In this episode, she breaks down exactly how she split her first £300K starting budget between stock, marketing and running costs, including why most of her marketing spend went on one person: Caroline Hirons!
We all know the success of The INKEY List but the growth came at a cost. Colette opens up about nearly going bankrupt, the burnout that put her in bed for two weeks straight, and the unpredictability of virality including how a product she never planned to sell became the number one body product on TikTok Shop. It's an honest look at what building a brand from nothing actually takes, budget breakdown included.
In this episode, we cover:
Leaving a decade-long career at Boots to join a scrappy startup
Exactly how she split her first £300K investment
Why most of her marketing budget went on: Caroline Hirons
The Cult Beauty call on launch day that changed everything
Launching The INKEY List into Sephora across North America within six months
Nearly going bankrupt, and what it actually takes to get "retail ready"
The burnout that put her in bed for two weeks straight
How a product she never planned to sell became #1 on TikTok Shop
If you’re looking to launch in the skincare space, this one’s for you!
We Are Ladies Who Launch!
00:00 Cult Beauty Calls Day One
00:55 Introducing Colette Laxton
03:10 Learning the Corporate Ropes at Boots
10:21 Realising The Skincare Gap
18:41 Leveraging PR for Launch
21:44 Early Funding and Brand Blow Up
27:05 Launching in Sephora US
33:10 Figuring Out Stock and Logistics
37:10 Virality and TikTok Shop
39:09 Our 1 Million Unit Order
40:14 Why Micro Influencers Win
46:23 Leadership at 100 Staff
50:47 Founder Burnout Reality
55:32 Rocket Round
01:06:51 Staying in the Game
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FOLLOW COLETTE
Instagram: https://www.instagram.com/colette.theinkeylist/
The Inkey List: https://www.instagram.com/theinkeylist/
TikTok: https://www.tiktok.com/@colette.laxton
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TikTok: www.tiktok.com/@weareladieswholaunch
YouTube: www.youtube.com/@Weareladieswholaunch
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