CEO Monthly Letter: introducing cocokind lab

If you follow us on social, you know that we announced that we will be developing our newest product, the LIP SPF (!!), together and out in the open for the next 10-12 months. 
Every time we develop a product, we do so much research and make hundreds of micro-decisions behind the scenes that lead to the final creation. Most of the time, you only see the outcome of those decisions, like the ingredients, packaging, pricing, etc. With #cocokindlab, we want to show you how and why we make those decisions...because that's where things get REALLY interesting!
During this process, you'll also learn the below facts that every product developer knows:
- Every product has its strength AND weaknesses
- We always have to make tradeoff decisions (i.e. “should we spend $ on this or this?”)
- At almost every stage of product development, things can go wrong and force us to start over or even stop the project 
#Cocokindlab launched two weeks ago. We asked you: would you rather pay $1 more for a lip SPF 20 or $1 less for a lip SPF 15? While this seems like a big price difference for a small change in SPF, we explained that changing the percentage of our largest active in this formula (the SPF filters) increases the cost base by a HUGE amount! Plus, we then have to tweak the formula’s other ingredients to still create a great SPF experience without a thick white cast. Ultimately, the majority of you voted that you’d be willing to pay $1 more for SPF 20. See? We’re already making tough decisions together. 
I’m obsessed with the idea that you know what you’re paying for when you buy cocokind. Your favorite skincare products shouldn’t be a mystery, and I hope you learn as much from us as we learn from you during this process! We will be posting monthly updates here on the blog, and you can follow along/vote by following us on Instagram.
Let’s do this!
- P
Founder & CEO