If you want a ringing affirmation of the virtues of free markets, take a listen to the story of. You will be amazed and inspired. Kern Lima is the cofounder and CEO of IT Cosmetics, a rapidly growing firm in a sluggish industry, which giant L’Oréal bought in 2016 for $1.2 billion in cash. She is the first female CEO of any L’Oréal brand in the company’s 110-year history.
Her astonishing success was achieved by busting once-ironclad rules on how the cosmetic industry operated. Stereotypical she is not. She designs her products to solve actual skin problems for women and combines this with enhancing beauty. She was a pioneer in direct selling to the consumer. She uses real-life women as models, including herself, to pitch her products. .Kern Lima came to this business because of a personal setback.
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