From the ever-evolving, always-innovative mind of serial entrepreneur David Chung—he’s the brains behind such brands Farmacy and 3Lab— comes iLABS, the very first “Airbnb” of beauty. According to Chung, iLABS is the first company in the beauty industry that works with both in-house and independent creative chemists and scientists with a decidedly big focus on producing innovative formulas.
INNOVATION/STRATEGY
After the sale of his New Jersey–based Englewood Lab in 2018, Chung took time to regroup. “I wanted to incubate new brands in the market’s white space, but my production was running into issues,” he recalls. His solution: Start a “different” lab. “At the time, Uber was coming out with new services; Airbnb was transforming the hospitality industry. Why not do that for the beauty world? Then I had the idea for iLABS, an R&D company dedicated to launching new beauty brands. From things like texture to efficacy, the innovation process is key to the success of a brand and its products.”
ENGINES ON
Whether it’s skin, body, hair, or color cosmetics, Chung’s goal is to incubate brands and help them succeed. “The focus is on indie brands that are just starting out,” he says. (The lab also works with established brands that want full customization and influencer-fueled launches.) “We are a collective of chemists who bring different ideas to the table. People have been waiting for this to happen—we are fulfilling the demands in the beauty industry."
