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FOREO

From EverybodyWiki Bios & Wiki




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FOREO
FOREO company logo
Private
ISIN🆔
IndustryConsumer products
Founded 📆2013
Founder 👔Filip Sedić
Headquarters 🏙️Stockholm, Sweden
Area served 🗺️
Worldwide
Key people
Hrvoje Šarac, COO
Products 📟 
Members
Number of employees
🌐 Websitehttps://www.foreo.com/
📇 Address
📞 telephone

FOREO is a Swedish beauty-tech company headquartered in Stockholm that develops, produces and sells personal care products. Foreo products are sold through online and brick and mortar retailers, duty free shops[1] and on company website.[2]

History[edit]

Company was founded in Stockholm, Sweden in 2013 as a consumer products company[3] by Filip Sedić - Bosnian-born Swedish serial inventor and entrepreneur.[4] Since then, company expanded to 22 offices across 6 continents[5] Company headquarters remains in Stockholm, Sweden. [6]

Brand name history: FOREO brand name is short for “For Everyone”.[7]

Products: current products portfolio includes various beauty tools for self-applied personal care - facial cleansing, massage, anti-ageing treatments, body care, oral care, acne treatment, hair removal devices utilizing various technologies like T-Sonic pulsations, LED-Therapy, microcurrent and radio-frequency treatments, phototherapy (blue light), intense pulsed light (IPL) technology.

Most of FOREO products are engineered and designed by its founder Filip Sedić in collaboration with 'Foreo Institute', using patented technologies[8] like type of medical-grade silicone material applied and T-sonic[9][10] technology. Today, Foreo is said to own more than 100 patents[11] and over 70 registered trademarks.[12]

In 2019 company was reported considering to be sold for over $1 billion, but the deal didn’t happen.[13]

In 2020, Foreo was one of the brands benefiting from a controversial move by L’Oreal - closing Clarisonic in 2020, which had about 14% of market share at that point.[14]

Business model[edit]

Foreo is a privately owned company. It is developing, producing its own products and distributing them over mix of owned channels and independent distributors like Sephora, Galeries Lafayette, Douglas, Harrods, Feel Unique, Bloomingdale's, El Corte Ingles. Owned channels include website[15] and FOREO For you app,launched in 2018.

Foreo products heavily rely on technological advancement and innovation. Apart from own patented technologies, company actively applies existing inventions into its products. Since 2018, many at-home care devices are connected to and controlled by Foreo app via Bluetooth connection.

It was one of the first beauty companies to mainly focus on digital multi-channel marketing tools and use Influencer and affiliate marketing and digital media as main tools to expand their audiences globally.[16][17] This enabled company to quickly grow on multiple markets, utilizing increasing trend of beauty industry being driven by influencers' approval rather than traditional media. It was among the first brands to use TikTok for marketing, having a campaign with a very popular TikTok influencer mom Sheri Nicole in 2020, that was later used by TikTok as a case study.[18]

In addition to active Influencer blogs and social media presence, Foreo products were endorsed by beauty and lifestyle influencers and celebrities like Huda Kattan,[19] Kim Kardashian,[20] Jessica Alba, Paris Hilton,[21] Cindy Crawford, Victoria Beckham,[22] Chrissy Teigen, Venus Williams[23] and Kayla Itsines. This and appearing on popular TV and YouTube shows like Star wars, The Ellen DeGeneres Show , Spanish Netflix TV series Valeria, Good Morning America, Korean Netflix show The Secret Life of My Secretary, Popular Mexican La Mas Draga YouTube show helped company to quickly become a known name in beauty industry.

In 2018, company has launched its first AI-enabled device, Luna fofo. It integrated machine learning and sensors to monitor skin hydration levels of its user to customize users’ cleansing routines over time.[24] One of company's products, UFO masks, were launched via KickStarter campaign.[25] Foreo's LUNA 4 range was launched as an NFT prior to traditional launch.[26]

Social responsibility[edit]

Save the sea

In 2016, Foreo partnered with GreenWave and SEA LIFE Trust for a second year to launch the Special Edition of their LUNA mini 2 - Save the Sea[27] facial cleansing brush with net proceeds to benefit ocean conservation efforts.[28][29] Net proceeds from sales were to be donated to GreenWave and SEA LIFE Trust.

NFT - mental health

In 2022, company had put its renowned LUNA on the blockchain and became the first skincare brand ever to launch digitalized versions of its products as an NFT prior to the conventional launch.[26]All the profits that have obtained of this initiative were donated to organizations involved in supporting and improving mental health and diverse conditions of the skin. Foreo donated all the proceedings from the NFTs to three charities: Tjejzonen,[30] Hope Givers and The Scleroderma Research Foundation, in the brand’s continuous effort to promote both healthy skin and mental health.[31][32]

Supporting LGBTQ+ and diversity

Over the years Foreo had multiple campaigns in support of LGBTQ+ community. Most notable are Be YOUnique campaign with a special rainbow edition of a bestseller LUNA brush.[33][34] and sponsoring YouTube shows like La Mas Draga[35] and Drag Race Espana[36]. Company has collaborated with multiple LGBTQ+ creators for its influencer and media campaigns.

References[edit]

  1. ↑ BARTLE, FAYE (14 November 2022). "Foreo ramps up GTR expansion fuelled by bespoke approach to skincare". TR Business.
  2. ↑ "Foreo AB - Company Profile and News". Bloomberg.com. Retrieved 2023-11-15.
  3. ↑ "COMPANY INFORMATION". Inc.com. Retrieved 2023-11-15.
  4. ↑ "Search Patents". Justia. Retrieved 2023-11-15.
  5. ↑ "FOREO - About". Crunchbase. Retrieved 2023-11-15.
  6. ↑ "Moody's Analytics - Business Register". Moody's Analytics. Retrieved 2023-11-15.
  7. ↑ Moodie, Martin (2023-04-02). "Interview: Inside Filip Sedic's dream-making factory at Foreo". Moodie Davitt Report. Retrieved 2023-11-15.
  8. ↑ "Google Patents - Foreo Inc". Google Patents. Retrieved 2023-11-15.
  9. ↑ "EUTM file information - T-SONIC". European Union Intellectual Property Office. 2017-07-27. Retrieved 2023-11-15.
  10. ↑ Harris, Meggen (2019-06-10). "FOREO: This Beauty And Wellness Brand Is The Master Of Sonic Vibration". Forbes. Retrieved 2023-11-15.
  11. ↑ "Patents Assigned to FOREO Inc". Justia . Retrieved 2023-11-15.
  12. ↑ "USPTO Trademark & Patent Filings". United States Patent and Trademark Office (USPTO). Retrieved 2023-11-15.
  13. ↑ "Swedish Beauty Brand Foreo Considers Sale at Over $1 Billion". Bloomberg.com. 2019-04-08. Retrieved 2023-11-15.
  14. ↑ Kavilanz, Parija (2020-07-29). "Clarisonic is shutting down. Its devoted fans are panicking". CNN Business. Retrieved 2023-11-15.
  15. ↑ "Overview - foreo.com". Similarweb. 2023. Retrieved 2023-11-15.
  16. ↑ Moodie, Martin (2020-10-12). "World exclusive: Foreo founder Filip Sedic tells it straight as FAQ™ is born". The Moodie Davitt Report. Retrieved 2023-11-15.
  17. ↑ "How FOREO Sold 1 Product Every 3 Seconds Globally (Hint: Influencer Marketing)". Affiliate World Conferences. 2018-12-05. Retrieved 2023-11-15.
  18. ↑ Neubert, Nathalie (2020-09-23). "Foreo partners with TikTok personality Sheri Nicole for Bear range launch". BW Confidential. Retrieved 2023-11-15.
  19. ↑ "How Foreo's UFO Will Give You A Celeb Facial In Just 90 Seconds". hudabeauty.com. Retrieved 2023-11-15.
  20. ↑ "A Guide To The $4,000 Of Beauty Swag Kim K Just Showed Off On Snapchat". Elite Daily. 2016-07-05. Retrieved 2023-11-15.
  21. ↑ "Paris Hilton's Nightly Skin Routine Is as Extra as You Think". Harper's BAZAAR. 2019-09-05. Retrieved 2023-11-15.
  22. ↑ "Victoria Beckham gave a lesson in ageless beauty at London Fashion Week". Harper's BAZAAR. 2018-09-17. Retrieved 2023-11-15.
  23. ↑ "Venus Williams Has One Must-Have Beauty Product For On the Court". W Magazine. 2019-07-05. Retrieved 2023-11-15.
  24. ↑ "15 Trends Changing The Face Of The Beauty Industry In 2020". CB Insights. 2019-11-20. Retrieved 2023-11-15.
  25. ↑ Rina, Raphael (2018-08-01). "Face Mask Of The Future? This Gadget Promises Less Goo, More Tech". Fast Company. Retrieved 2023-11-15.
  26. ↑ 26.0 26.1 "FOREO Launch Luna Collection". www.irishbeauty.ie. Retrieved 2023-11-15.
  27. ↑ "FOREO LUNA™ mini Save The Sea Special Edition - Sea Blue". Mankind. Retrieved 2023-11-15.
  28. ↑ BNME (2016-09-23). "FOREO helps protect oceans". Beauty News Middle East. Retrieved 2023-11-15.
  29. ↑ Shortlist, Beauty (2015-07-20). "We're in! Help 'Save the Sea' with FOREO's NEW LUNA™ mini Special Edition". The Beauty Shortlist. Retrieved 2023-11-15.
  30. ↑ Goding, Kajsa Karin Helena (2023-04-17). "Revisionsberättelse Tjejzonen 2022-01-01--2022-12-31" (PDF). p. 21.
  31. ↑ "FOREO Launch Luna Collection". www.irishbeauty.ie. Retrieved 2023-11-15.
  32. ↑ "FOREO Collects 12.000 dollars with the sale solidaria of NFT". Next In Beauty Mag. 2022-12-19. Retrieved 2023-11-15.
  33. ↑ "5 beauty brands that really support the LGBTQIA+ community". nss magazine. Retrieved 2023-11-15.
  34. ↑ "More Magnets". more-magnets.com. Retrieved 2023-11-15.
  35. ↑ "La Más Draga". RuPaul's Drag Race Wiki. Retrieved 2023-11-15.
  36. ↑ "Drag Race España (Season 2)". RuPaul's Drag Race Wiki. Retrieved 2023-11-15.


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