Episode 72
September 21, 2021

Pure Innovation

with Ric Kostick, Co-Founder and CEO of 100% Pure

About this episode

Ric Kostick is the Co-Founder and CEO of 100% Pure. Founded in 2004, 100% Pure has been a pioneer and innovation leader in the natural beauty industry. With a commitment to producing the purest and healthiest products 100% Pure is on a mission to improve the lives of six billion people and animals, while also being charitable and giving back to our global community. In this episode, Ric talks with us about his entrepreneurial journey from being born and raised in San Francisco with dreams of becoming a fighter pilot, to starting a hair care company for teens with an innovative bottle that now sits in a museum, to meeting his Co-Founders and starting 100% Pure from their garage. Ric talks with us about the many challenges he's experienced along the way in building his business, including why they lost Sephora and QVC as partners, the strategy behind opening 14 stores in the US, and how he expanded the business into China.

This episode is sponsored by

In This Episode You’ll Hear About:

  • How Ric grew up in a family of doctors but had no interest in medicine so instead went into finance and business
  • How he started selling his products online while the internet was still new
  • What led to the creation of the company after he and his co-founder both had struggles with their own companies
  • How challenges and losing a huge account led to a pivot that became a success in a new channel
  • What advice he has for a healthy founding team and why good communication among the Founders and partners is not only imperative, but absolutely essential
  • What brought them to open up market in China, how it has been a unique strategy, and why that fits in with their overall mission
  • What it has been like to open up their own retail stores, what lessons Ric has learned as a result, and what they have coming up in the future
  • Why he thinks being a lifelong learner is a part of being successful and making a difference in the world around you

To Find Out More:

100percentpure.com

Quotes:

“Why are all these companies putting these ingredients into the product? Because it makes them cheaper and it makes them stable.”


“We led a lot of the innovations in the natural side of the industry. A lot of the preservatives you see in clean products today are ones we were the first to use in beauty.”


“It's really an art when you're making a natural product. You have to be very, very precise on things to get it to mix extremely well.” 


“There are so many challenges as an entrepreneur, it's very rewarding, too, but you definitely go through a lot and I don't think it's easy.”


“When you're working with partners, it's hard not to blame each other. You have to really ensure that you blame processes, not people.”


“Trust is the most important thing. Our fastest years of growth are the years where we trusted each other the most, the three founders. Those were our fastest years when we grew 30-40 percent.”


“It's our mission to improve the lives of six billion people and animals. China has a billion people and even more magnitude of animals on top of it. So I felt like we really need to stay true to our mission. And if we're really trying to stay true to our mission, we need to be where the people are around the world…”


“I use China as kind of the model of eCommerce of the future because they bypassed the whole desktop computer phase. They went straight to mobile because nobody has desktops at home in China that I know of, so they bypassed desktop, went to mobile, and their eCommerce is extremely advanced because of that.”


“The store of the future, the retail associates, are content creators.”


“You have to be okay with failure. It can't bother you. It's got to be like water off your back. Nothing. Move on.”


“Another key element of success is having a very strong network. If I need something or need access to someone, I can get it because of my strong network.”


“Some people felt like brick and mortar is dead. I don't feel that way. I feel like you need both to be successful.”


Read the transcript

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