Haircare With French Flair: Elegance Meets Performance

Speaker 1:
Welcome to TD Cowen Insights, a space that brings leading thinkers together to share insights and ideas shaping the world around us. Join us as we converse with the top minds who are influencing our global sectors.
Oliver Chen:
Hair care with French flare. This is Oliver Chen. I'm TD Cowen's Retail and Luxury Analyst. We're here with the Retail Visionary Series, which features visionary people and ideas. I'm here with Frederic Fekkai, the founder and chairman of Fekkai. Frederic Fekkai is an iconic leader in the industry and he stands for effortless elegant. I grew up admiring his products and brand. Fekkai's professional products offer personalized care for every hair type, hair texture, and hair color. The brand's salon level products feature sustainable packaging and clean natural formulas designed to solve every hair's most vital needs, such as protecting color, boosting shine, volumizing, repairing, and restoring, among others. Thanks so much, Frederic, for being here with us.
Frederic Fekkai:
Thank you, Oliver, for having me.
Oliver Chen:
Frederic, so it's a pleasure to really have you here. What makes Fekkai different in the current market and for those who are less familiar, what are your core strengths?
Frederic Fekkai:
Yes. So today obviously the landscape in beauty and in hair is very, very saturated. I mean, when I started I was the leading and the only one doing luxurious hair care with the skincare, basically technology and innovation. So today it's very saturated, it's full. And what really makes us different today is after many mistake, by the way, we didn't find this right away, is to really go back to the archive, to go to the heritage, and to stand for what we are. And instead of chasing the Millennial and Gen Z, we just want to stay true to ourself and to bring back the French flair, the romance, the emotion, the glamour.
And really what I always dreamed in my business by the way, is not... I'm not a businessman, I love business, but what I really care is about helping my customer. So whether it's an experience in our salon or in a product, I want to make sure that we try to solve and satisfy the needs of our customer. And today, if you look at the market, most hair care line that are successful are really based or focused on problem solution. I'm not that, we are not that. We're more about emotion, glamour, story and definitely to have the best ingredient, the best formula and try to be as sustainable, as clean we can, with the great performance.
Oliver Chen:
When you think about that, Frederic, when you did go back to the archives, what did you identify? What do you see as the needs of your customer?
Frederic Fekkai:
So first of all, when we look at the archive just on the photograph, we realized that the photograph that I used to do with Peter Lindberg and all this incredible photographers with the supermodel, the 90s and all this, it's back today, it's back. And this is what people want. Every generation, it's about beautiful hair, glamorous. It's not about... There was a trend as you saw in a few years ago where it was a lot of hot tools where the hair was, we call it actually liquid glass hair and making the hair very, very, very unreal. So for us, it's about actually bringing back the expression of your own hair in beauty.
So if you have curly hair, it's embrace it but make it better curl. And this is wonderful because today we have technology innovation on product that can really redefine the curl. Take all the negative, which is the frizz, or if the color is basically dull adding more shine so we can just make the hair lively. And I want people to actually be proud of their own beauty. To me it's about celebrating your own beauty. This is what it is and I want to go back to that and not try to compete with the people who have biological formulation.
Oliver Chen:
Another aspect is the French touch. What does that mean to the brand and how is that translated? You also have so much credibility as a stylist to the stars. Would love to hear how these features interplay with your brand?
Frederic Fekkai:
So just to make sure that the audience know, the French flair, the French beauty basically, and this is something that is actually catching now, catching up here in North America. It's basically not trying to overgroom the hair. The difference between a French lady and an American lady is that a French lady has the hair a little bit undone. She doesn't run to get a manicure every week. It's not all about overdone, it's about being beautiful naturally. And so, we bringing that back saying don't try to do too much. Just do enough to celebrate, again, your own beautiful hair, your own skin, your own thing without trying to do too much. My look, and I understand this is a trend everywhere, even my daughter wants to do that, is to have a fake nail, fake lashes, head extension. And I love it, but I want to use this for special occasion, not for every day. I think for every day you need to embrace your own beauty.
Oliver Chen:
Another factor is skinification of hair, and you've heard us at TD Cowen talk about that as well. What do you see happening with skinification of hair and more broadly, Frederic, what are the key trends in hair care that you're excited about?
Frederic Fekkai:
I think first of all with humbly I could say that I'm the one who introduced skinification to the hair back then, and I think this was an amazing, great decision. I was lucky to think about that and why skinification to the hair? Because it sounds good like this, but what does it mean? Because skincare had much more advanced technology, science and innovation, and hair care was too basic. So I wanted to make sure that we created that kind of excitement around hair. When I did hair was very simplistic. It was basically for dry hair, oily hair and dandruff. I'm the one who created product who were specific to color treated hair or for kinky hair. I wanted to address more hair so that it didn't penalize people who didn't identify with just dry, oily and dandruff.
But what I care about skinification today is about the technology. It's about, especially now with the scalp is how do we improve scalp health? It's all about the follicle. How do we nourish the follicle to make sure that there is regrowth or more strength, that's for hair growth. But for as we know, many young women, women, are using a lot of chemical on their hair. Chemical could be great and could be detrimental. So if you have over processed hair, very brittle and it's there, there's nothing you can do, it's already there. So how do you make it look better? How do you fix it? Because obviously when you have chemically treated hair, it means that your hair becomes porous, it becomes fiberous, it becomes cottonous, and how do you fix that and make your hair looking silky, shiny and stronger?
So today there's great technology with bonding and super strand and super complex to help really remedy this hair, even if it's temporary. It's great, it's wonderful, especially for today for people who are constantly doing selfie and Instagram and so on. It just helps to make the hair essentially beautiful.
Oliver Chen:
That's very helpful. That leads us to another question. What are your core or hero products in the portfolio? Which products are you most famous for and how do you ensure that you keep these refreshed?
Frederic Fekkai:
Yes. So over the years it has changed the trend on the hero product. Today we have a ritual and we have for instance, the apple cider detox scrub, which is an amazing scrub and is doing very well. As well our bestseller right now at Ulta Beauty throughout the United States. And the reason being is because most scrub are made with salt. And I was I think smart enough to change that because I wanted to make rice microfiber powders of rice to not be abrasive, to not be too rough on the hair, but also sodium, salt can change the color of your hair. So, I wanted to avoid that. And so, that's why apple cider detox scrub is one of our bestseller.
Then as I mentioned earlier, because of a lot of damaged hair, people are seeking for product that can repair hair. So we have a super strand shampoo and conditioner that has one of the latest technology on bonding. It's a triple bonding for... Many brands as you imagine in the market today have double bonding. We are on triple bonding, so it's the latest innovation. It's doing great and it makes the hair really strong and smooth and silky, so that's great. And then, there is a lot of people who cannot manage a lot of hair, curly, curly hair, too much volume, too difficult to manage. So, we have a serum, which is amazing because just a few drops goes a long way of the serum that helps redefine the curly hair giving you shine without looking greasy.
It's a dry oil, it has an amazing cocktail of oil and serum that makes the hair supple, manageable, moving, and all this, so the curls can move but they don't look frizzy and that is beautiful. And then, we have a new generation, I call of hairspray. Your mom, my mom, my grandmother, we used the hairspray that was so solid to make sure the hair wouldn't move, but today people don't want this. They want a soft hairspray. So it's actually called texturizing spray. And those sprays are amazing because they're not meant to be sprayed over the hair but through the hair. So it gives you, again, movement, but it stays in shape and it really looks natural, glamorous, red carpet-like.
Oliver Chen:
Very compelling portfolio. And also balancing this creative and authenticity as well as having so much function in these products. Frederic, your prices are also accessible. So who are your customers, how often do they engage with you? What do you think about appealing to the younger customer as well?
Frederic Fekkai:
So, here's my take. I'm not sure if I'm right but I just realized that for me it was very important to deliver a great product, a great packaging, a great formula, but also a great story. And to really stay true to what I know, what I did, what made me who I am. And then, I believe I don't want to target a generation, I want the generation to target me. So, I'm putting it out there and I want the Gen Z, the Millennial to come to it. And I have a 15-year-old daughter and very often we say, "Oh my God, we're not enough present on TikTok that the young generation doesn't know us and all this." And we're always debating this.
And then I realized that my 15-year-old daughter, all of girlfriends are asking her to buy the fake eye products. So it shows you that if we got into the hand of their mother and they try and they love it, if it appeals to them, it comes to them. So, the answer to your question is, I don't want to target a generation. I want to make sure I do the best product out there and that I deliver the best trust. I want people to trust the brand and then the rest is up to the jury.
Oliver Chen:
To your comments, Frederic, on what made you who you are, what made you who you are?
Frederic Fekkai:
So, it's really creating the best environment first. I started, as you know, as a hair stylist in a salon. I was the first one to create what women's wear daily back then in 90s called the First Day Spa. So, who I am, I wanted to create an environment where people could feel great and beautiful and it's not just because of a great haircut or a great hair color, it's about delivering confidence, helping people to find a great look for them, and to really give them a great personality, a great personalization in beauty. And I think what made me is obviously you have to be good at what you are. Okay? That's a given, but it's all about making sure that the customer feels like you are empowering them. So, I think this is where I got the loyalty for my customer. This is how I built the biggest salons in the world and this is how I created the first luxurious hair care.
Oliver Chen:
On another topic, as you are a visionary in the industry, what beauty trends are you paying most attention to? And then, more specifically, what hair care trends are you most excited about or what do you see happening with the future of hair care?
Frederic Fekkai:
I'm actually lucky in that sense that when I started, I was one of the rarest stylist that could do studio and commercial. As you probably know usually, and even today, the five super ambassador we signed up, we can talk about later to celebrate our 35th anniversary. They are concentrated and they're doing 100% only red carpet, fashion shows, studios and products. I was doing both. And by doing both, I was able to create great trends in the shows, in the studios, and so on. But then, in the salon, I detach that. I'm not following trend in salon. In the commercial, I do what is right for my customer. It has to be unique, bespoke to them, and then that becomes a trend. So I'm allergic to trend in the salon and I'm actually loving creating trends in the artistic world, in the editorial world, and so on.
Oliver Chen:
Yeah, your DNA and your history is so intertwined with so much powerful fashion. So, that makes so much sense. Would love to hear about the five celebrity stylist ambassadors for your 35th anniversary. Sounds very exciting. Why was this the right time for that and what's happening?
Frederic Fekkai:
I think today everybody is, I don't know, rushing or confused about social influencers. It's very difficult to navigate, it's difficult to manage. So, we wanted to make sure we had five ambassador that have the aesthetic of the Fekkai brand, number one, and that is the French flair, if you will, the beauty, the natural all this. But also we wanted to make sure that it was not transactional. We want to make sure that it was not just, oh my God, go there and plug in our product and all this. I hate this whole commercial idea. So we wanted to make sure it was very much about having them express themself and do the best hair there, the best beauty. And by the way, we're doing it with Fekkai. But it's not like, "Oh my god, I'm using this to do that." So we had to find ambassador that felt that they were endorsing the brand because they were able to do what they want.
Oliver Chen:
What do you think Frederic about distribution in general? And you have some really wonderful partners. Also, the world has changed a lot. I'm still a huge fan of Bergdorf Goodman, but obviously department stores have changed a lot and Sephora and Ulta are very big deals. What's happening with distribution and how will you evolve here as well?
Frederic Fekkai:
It's interesting because... And that makes me old obviously, but I'm sad that the department stores today are having a challenge because I love them. This is a luxurious experience. It's a great... But the way it is that people are shopping less and less there. However, in the US, in prestige and masstige, there's not many players. It's only Sephora and Ulta. We are lucky to be with Ulta, and Ulta has been a great partner. Ulta also has always been stronger than Sephora in hair. So, we are lucky to be there and it's a great way to be present in brick and mortar.
But it's important also for us to be strong in our D2C e-commerce. And of course, Amazon is a great account for us, I'm sure for many people. But Amazon is a replenishment. It's not a discovery. It's just when somebody knows that they need a technician shampoo or a brilliant gloss serum and they would go and buy it because it comes next day in their house. But people who are searching for the right product and so on, they have to go and find brick and mortars. So, today we are in Ulta, we are also in Macy's, we're in Bloomingdale's, and I want to make sure we have this balance.
To be honest with you, I wish there would be more retailers that would cater to what I would call exclusive, but... Not exclusive, there's not a right word, but a wonderful environment to buy a beauty product without being... When you go somewhere and there's thousands brand and so many product are there, it is difficult to discover what you want. So, I would love to find retailers that could just do a great creation of product.
Oliver Chen:
Yeah, it is a very interesting question where education is so important and there's a proliferation of products. So how do you drive that experience too? You've always had great relationships with communities and stylists. How important is having a strong community of stylists for your business and how might they help inform what you're doing?
Frederic Fekkai:
I think it's very important. I'm not sure we done a great deal, a great business with this, but I definitely want to focus on that. It's really about, again, I treat them the same way I treat my customer. It's to make sure they trust me, and I want to empower them. So what can I do knowing what I know, how can I transfer my knowledge? How can I transfer my tips? How can I help them to express and to succeed at their level? And so, I think it's about really a great relationship and to deliver as much content as possible through social media, through blog, through podcast like we are right now, to make sure that I give enough information and confidence.
Oliver Chen:
Which part of this is the most fun to you now, Frederic? What are you enjoying a lot?
Frederic Fekkai:
What I really love the most, and it's amazing because I'm a study start hard. So what I love is definitely delivering an incredible experience and helping people feeling good and looking a billion bucks. But also I'm a creative, so I love when it's about new formulation, new innovation, creating new product. For instance, right now we're working on trying to figure out... I cannot talk about it, but a product that is revolutionary that will help, and you talk about generation, will help every generation and that I'm excited about that hopefully come soon. But I love innovation, I love design, I love also... And you've seen what [inaudible 00:23:25] and the team has done is the imagery, the brand. I love the font, I love the lighting, I love the black and white. I want to make sure that we make our customer live vicariously through us.
Oliver Chen:
Yeah, that's a great point. I teach a class at Columbia called Magic and Logic, so we think a lot about emotions and innovation and creative. What does being creative mean to you and this business and why and/or how is it important?
Frederic Fekkai:
For me, creative is about creating all the time something that is relevant to your customer. The mistake I don't want to do is to be trying to create trends because it's a trend or whatever. No, I want to create something that is relevant to my customer. And creative for me, it's about really talking to my customer. My customer is 40 plus, so I want to make sure that they are seeing my expression and that it really talks to them and I want to be true to myself. If you look [inaudible 00:24:41], and I know you this very well on many of your topics, luxury good, but it's [inaudible 00:24:47] as a brand. [inaudible 00:24:49] has since 1800, they haven't changed much.
They've been creative but been creative in their own craft, in own image. It's obviously innovation all the time, but it's true to themself. They haven't deviated and I don't want to deviate. I want to make sure I do beautiful hair, healthy hair, and I'm not going to try to do things that are just for trend, but then that could damage your hair. I don't want to do that. I want to make sure that I educate my customer and help my customer to do their own hair at home in a very healthy way.
Oliver Chen:
Yeah, staying authentic and helping people look their best and sticking with your heritage. What are the tougher problems that you're facing? What are things that you're thinking about that might be bigger challenges now?
Frederic Fekkai:
I think it's pretty obvious right now. Number one, it's like there's a million brand and I don't know how many every day that comes up and that's a saturation, which means that makes the business more expensive to run. Everything today has quadruple, whether it's on D2C or brick and mortar, everywhere you go, it's pay to play, pay to play, pay to play. So, the margins are tough, distribution is tough. As I said earlier, there's not too many player in masstige and prestige, so that's one thing. And then, if you have to go internationally, as you know, it's very costly.
So, to me, my challenge, which is also what I think a solution is really to focus and concentrate in the US market, do it right. And we haven't tapped yet the professional salons, and I want to do that. And I love that business because it's authentic, it's real, it's back to the roots. And also, it's helping my community, my industry. And that's where I'm excited because it will be in addition to provide them with product, but it's also, and this is what I take proud of it, is provide them with story, with ideas, with tips and technical, but also business and marketing, and so on. So to help them to elevate their image and to help them with their own business and branding.
Oliver Chen:
Yeah. That's a big opportunity and you're very authentically positioned to take advantage of that. You're a very customer-centric person and brand, what messages do you have for your customers at large?
Frederic Fekkai:
I think it's so important to... And this is a wonderful question for me because that is what I really live every day is I want my customer to try to find a look that really identify as themself. It has to be something that really fits their lifestyle, their work, their family. And that means trying to find look that will help them to have a beautiful look if they have to take their kids to the school, but also a cocktail this evening, a gala somewhere.
So try to make sure that they identify with a look that is theirs, not a trend. Too many people aren't doing the same thing. I mean, we witness this and it makes me sad. Many women have the same plastic surgery, many women have the same hair color, and so on, and so on. What about just doing something that really identify you and you are daring and trying something that is really unique and not like everyone else?
Oliver Chen:
Yeah, I hear you. In terms of really thinking about what makes you you and what makes you special. For listeners to the podcast, what products do you commend? What are your favorite for women and men?
Frederic Fekkai:
I think it's important to have what we call a ritual. You cannot avoid to have shampoo and a conditioner. So you have to find for the texture of your hair, the appropriate shampoo and conditioner. But for ladies, very often if she has, let's say, highlight, she needs to obviously alternate shampoo for color treated hair, which would be a technician shampoo in our line. But then, if your hair is fine and flat, alternate with a volume shampoo to help bring in that. If it's just for shine, shine, but alternating. Hair doesn't like the same product all the time because you need to what I call awaken the pH of the hair. So that the ritual of the shampoo and the conditioner in the shower.
And then it's three steps. It's only three steps. So shampoo and the conditioner. Second step is after towel drying your hair is to apply a foam or a spray for volume at the roots. Volume as are the roots. This is key for everybody. Key to give just a little bit of under crown body on the roots and dry the hair upside down to make sure the roots are lifted. And then style your hair as usual and then do what I call use the product to enhance the texture, whether it's the glossing cream or the serum as I mentioned earlier, or the texturizing spray to give a texture in the hair.
Oliver Chen:
Amazing. Thanks for those tips. What do you think about the customers you're seeing now in terms of the environment? We have a inflationary environment where people are looking for value. On the other hand, we have a luxury customer that's been pretty robust. What are your thoughts on the customer and the health of the consumer?
Frederic Fekkai:
It's a great question. I'm not sure if everybody will agree with me, but I would say that I'm a firm believer that for me, it's not about trying to be affordable with discount. If you do that, you are basically recruiting a customer that cares for the value. So, I humbly, I want to be proud of saying that I'm selling my product because of what we stand for, because of our story, because of our performance, because of the quality. And I want to bank on that. I do not, we are allergic to those big discount. And I know you have to do this, but I really are allergic to this.
Oliver Chen:
Well, Frederic, it's been amazing to spend time with you in terms of your perspective on what's happening, and also learning more about all the really remarkable things you're doing with the brand; and learning more about your history, your creative history, as well as real commitment to customers. So, thanks so much for your time.
Frederic Fekkai:
My pleasure. Thank you, Oliver.
Speaker 1:
Thanks for joining us. Stay tuned for the next episode of TD Cowen Insights.

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