So I heard the story today of Brad Yim, who is an MIT trained engineer with a Wharton MBA. Yim wants to get in to the men’s skin care business. He sees a major issue with mens skin care today. That is, men who are trying to start a skin care routine are simply overwhelmed by all the options. His new startup called Mavericks aims to fix this problem.
For instance, when you enter the skin care aisle of any local drugstore it can be completely overwhelming to somebody who isn’t a cosmetic chemist. Typical men do not know the difference between a facial lotion and an eye serum. What exactly do terms like age repair and rejuvenation mean? Why would a man even need to rejuvenate his skin?
Well Yim created a brand called Mavericks in order to solve this problem. The brand’s aim is to break down what is ordinarily a complicated process in to three simple products. This is what we call a “system” in the skin care business. What Yim is doing is applying the startup model of “this is all you need” products like Soylent and Casper but to skin care.
Men are currently not taking care of their skin like they should be. According to recent NPD Group data, only about 22% of men are using skin care products in the US. However, dermatologists and skin care experts overwhelmingly agree that skin care for men is vital for health.
Mavericks bills itself as a three product “Face Kit” that retails for $90. It is designed to last 90 days when used daily and it comes with usage instructions that are simple to follow. Additionally, there is a shaving cream product which is said to be a “highly moisturizing lotion activated by water.”
Yim claims to have assembled a team of doctors and skin care researchers to design this system. “We did the research, we actually spent time and money to figure out what is basically the best thing we can come up with given the scientific progress we have currently,” he said to Business Insider.
According to Yim the prevailing social trends support men investing in their appearance and this starts with skin care. As a hedge fund trader he tried to find investors and failed to generate any interest. It is a very competitive space with deeply entrenched players. Marketing is a challenge and expensive.
Yim admits that developing the products was harder than expected and he is trying to tap in to a $4.2 billion dollar market for men’s personal care. He thinks that the fact that so few men are currently using skin care products is a huge opportunity for his brand. Personally, I think it is a very difficult segment of a very difficult market. I’ve seen so many fail trying to create the new huge men’s skin care brand. Many doctors and celebrities with way more marketing clout than Yim. So good luck to Mavericks, you are going to need it.