1988: While still a pharmacology student, George Korres starts working at Athens'
... Tzivanides - where he first begins mixing natural pharmacy ingredients to ...
RESEARCH/ PATENTS/ EFFICACY/ INNOVATION Integrating primary research in cosmetics natural products development
1988: While still a pharmacology student, George Korres starts working at Athens’ oldest homeopathic pharmacy - owned by Mr. Tzivanides - where he first begins mixing natural pharmacy ingredients to create herbal preparations, natural remedies and, eventually, cosmetic products.
1992: George sets up an exemplary homeopathic laboratory at the pharmacy, based on international lab standards. Led by the pharmacy heritage, his deep knowledge and understanding of over 3,000 herbal remedies, and his passion for a more natural approach, George starts developing formulas that are first tested on his own friends
1996: KORRES is born. The brand’s simple philosophy is rooted in the use of natural and / or certified organic ingredients of the highest quality; skin and environmentally friendly products with clinicallytested efficacy; and products that are affordable for everyday use, yet of interesting aesthetics that can ‘inspire & make us happy’. The first KORRES product is an aromatic herbal syrup with honey and aniseed, a recipe inspired by ‘rakomelon’, a warming spirit-with-honey concoction, which George’s grandfather used to make in his hometown on the island of Naxos.
KORRES Wild Rose 24-Hour Cream, the brand’s first global innovation and first ever skincare product, is launched. goes on to become a global best-seller.
It
1999: An American buyer spots KORRES products in a pharmacy while on holiday on the island of Crete and calls George Korres asking to be the first to import them to the US. KORRES products’ international journey begins
2000: The beauty buyer for Harvey Nichols, London, spots KORRES in New York, and immediately places an order for the store’s newly created Beyond Beauty section. A number of partnerships with the most prestigious department stores in Britain and France ‘including Selfridges, Harrods, Liberty’s, Bon Marche and Galleries Lafayette’follow. Although not part of the original brand strategy, this domino effect spreads KORRES products to most parts of the world. At the same time, the portfolio expands with the launch of face, body and hair care products free of PARABENS, SILICONES, MINERAL OIL, PROPYLENE GLYCOL. 2001: Inspired by the long-lived tradition of applying yoghurt to sunburned skin, KORRES Yoghurt Cooling Gel becomes the brand’s second global innovation. After three years in development, KORRES Yoghurt Cooling Gel is the first cosmetic worldwide based on edible yoghurt and becomes an instant international hit, selling over 1,000 pieces per day that summer and every summer since.
2002: The first KORRES store opens abroad, in London’s Chelsea 2004: Two new stores open in Barcelona and KORRES goes from cult brand to breakthrough in the US market thanks to the Sephora network. In the same year, based on the NOBEL-awarded discovery of the proteasome [ubiquitin-mediated protein degradation], the KORRES Research & Development Lab together with academic partners begins primary research on Proteasome & Human Ageing, focusing on enhancing the proteasome function with natural antioxidants
2006: KORRES products hit shelves in Asia, starting in Japan and China. Later in the year, KORRES COLOUR launches. KORRES is ranked among Europe’s 500 highest developing companies
2007: The year kicks off with the team’s relocation to its new headquarters in Inofita, on the outskirts of Athens. KORRES stores open in New York, Paris, Shanghai, Madrid, Vienna and Geneva, while the Greek Association of Pharmacists honours George Korres for his contribution to Greek trade and business development. In March, KORRES is listed on the Athens Stock Exchange and in November
Fulfilling a long-term vision of exploring and promoting the beneficial activity of the country’s unique, native plants, a mapping of the Greek flora is completed in partnership with the Laboratory of Organic Farming of the Agricultural School of Athens. The vision also comes to life through scientific research on the properties of herbs as well as the brand’s cooperations with local farmers – teaching & supporting them through contractual farming – and finally developing an exemplary, first-for-Greece, herbal extraction unit. Key to the KORRES vision are ethical, environmental and social programmes that support local communities and endangered plants, while also promoting the production of Greek, organic active extracts of superior quality.
ISO 9001 CERTIFICATION, ENVIRONMENTAL CERTIFICATION, ECOCERT CERTIFICATION
PRODUCTION
2008: KORRES is awarded as the World’s Most Innovative Brand by International Cosmetic News and the KORRES New York flagship store in SoHo is awarded first prize at the Retail Renovation Competition. The brand launches its Formula Facts initiative to communicate in an honest, transparent, and easy to comprehend way, the natural percentage of each formula, as well as the ingredients that are selected and those that are avoided.
In December, the first ever KORRES fragrance launches. George Korres works closely with the world best perfume houses ‘in Tokyo, Geneva and Gras’ on three unique formulations to best represent the brand’s mood through scent.
2009: After five years of primary research on Proteasome & Human Ageing, KORRES presents its third global innovation, the first natural antiageing line to achieve higher scores on all clinical tests compared to the market’s best-selling conventional antiageing creams. A brand milestone, the Quercetin & Oak line blows apart the theory that only conventional age-defying creams work and proves that nature’s chemistry can be stronger than man-made.
GLOBAL PRESENCE KORRES AT THE ELITE STORES OF THE WORLD 32 Countries Greece, UK, Germany, Spain, Portugal, France, Ireland, Austria, Switzerland, Belgium, Netherlands, Luxemburg, Czech Republic, Finland, Norway, Sweden, Italy, Romania, Estonia, Russia Cyprus, USA, Canada, Brazil, South Africa, UAE, China, Korea, Japan, Australia
RND milestones 1
FORMULATION EXCELLENCE
• Without mineral oil, silicones, parabens, propylene glycol, phthalates, aggressive chemicals • Expertise in handling sensitive natural active ingredients • We maximize the synergy of our ingredients delivering natural formulations with superior efficacy
RND milestones 2
INNOVATION CULTURE
• Always striving to break through new barriers, Korres has produced 3 global beauty industry innovations • Consistently strong pipeline across different categories • 3 Korres patented ingredients • Pioneering product concepts
RND milestones 3 ACCESS TO UNIQUE NATURAL INGREDIENTS • A paradise of biodiversity, Greece offers more than 6,000 plants and 1,200 endemic species. Plants that have created extraordinary mechanisms since thousands of years can offer their benefits in beauty products. • For our Plant Hunters, Researchers and Formulators, this natural treasure is a constant source of inspiration and innovation
RND milestones 4
PRIMARY RESEARCH Primary Research is our focus; skin biochemistry and natural actives are priorities for our collaborations, we firmly bring together nature and science to achieve clinical efficacy
RND milestones 5
SCIENTIFIC PARTNERSHIPS
• A major player in primary research in the chemistry of natural ingredients, Korres has developed a network of high-profile academic and research partners mainly in Europe • These collaborations allow for valuable exchange of knowledge and expertise and can result in the production of new advanced ingredients and technologies
RND milestones 6
PROCESSES & PROTOCOLS We take pride in meticulous product quality; developing with processes and protocols that are strict and solid, extracting plants while maintaining all sensitive actives, producing with ultra high water purity, all lead to exceptional products
A TYPICAL FORMULA/ EMULSIONS WFP (purified usp grade)
Emulsifiers Thickening agents Emollients Preservation
Actives
Key milestone is the Month we finalize formula/ packaging (M) The timeline is developed based on this key milestone
Idea Generation M-10 to M-8
Feasibility M-8 to M
1.Ideas gathering/ screening PDS form submission 2.Evaluation of ideas to all depts
Get approvals from Management team Formula samples and Receipt of formula Lab sample stability samples/ panels execution Receipt of packaging proposals
Development M to M+5
Implementation M+5 to M+12
Month M: final formula and packaging Preparing Pilot and Trial
Trial production (M+8) RND tests
Efficacy tests/ protocol development
Form of Release for Sale
Key claims/ texts/ artworks/ cost finalisation
New product presentation material/ key info to Commercial & PR
Pilot Production (M+3) RND tests
M+12 to M+15 pipeline productions
Efficacy related claims/ consumer relevant claims & actives in the beauty industry Product design criteria need to be matched with product claims, with R&D requirements, manufacturing engineering and brand identity Actives must be chosen to reflect these product design criteria. Actives must be supported by studies demonstrating their claims and safety for use in cosmetics. They must be manufactured in industrial scale and be compatible with final cosmetics formulations They must be innovative/ effective/ interesting/ easy to formulate with-Preferably all of the above! Formulations are tested for stability during development. They go through tests for dermatological use [PATCH TESTS], opthalmic use [OCCULAR TESTS], safety assessment [COMPLETE DOSSIER OF PRODUCT BY EXPERTS IN SAFETY ASSESSMENTS], efficacy tests [e.g. MOISTURISING, SPF CLAIMS, WRINKLE MEASUREMENTS etc]
MAJOR KORRES INNOVATIONS Major Innovations in the beauty industry achieved by Korres:
A beauty-world first communication tool: •KORRES ADVANCED ANTI-AGEING PLATFORMS BASED ON NOBEL-AWARDED SCIENCE
Natural beauty-industry firsts: • THE FIRST NATURAL ANTI-AGEING PRODUCT THAT IS CLINICALLY PROVEN TO OUTPERFORM THE CONVENTIONAL ‘GOLDEN STANDARDS OF ANTI-AGEING’: RETINOL AND PEPTIDES – Korres Quercetin and Oak line (patented technology) The sales of the black pine line in 2012 brought 4 times the sales of the previous antiageing line In particular sales were 375% higher in terms of value and 254% higher as compared to items sold • THE FIRST SILICONE-FREE 99% NATURAL PRIMER – Korres vitamin E make-up primer
An ingredient first: • THE FIRST BEAUTY PRODUCT WITH EDIBLE YOGURT – Korres Yogurt cooling gel with Greek Yogurt
Innovative Beauty concepts: • INTRODUCING A NEW BEAUTY CATEGORY: KORRES WILD ROSE SLEEPING FACIAL • FORMULA FACTS– AN HONEST MESSAGE ABOUT SKINCARE
THANK YOU!
