What they do:
Make a perfume on the spot for every individual customer
Just-time-inventory and a no-fuss packaging approach gave Fabrice Penot a unique competitive advantage in the world of perfume.
About the business:
Fabrice Penot and co-founder Eddie Roschi create on the spot perfumes for each individual customer. They named their perfume line Le Labo, which means “the lab” in French. The pricey ingredients are un-glamoursly poured into plain glass bottles for the customer, whose name and expiration date go on the label. Within 4 years, Penot had a $4.5 million dollar business, with four global boutiques, and counter space at 12 retail stores.
Can you imagine ordering a book and having to wait while it was printed and bound? Of course not. But some small businesses across the country are starting to realize that having well-stocked inventories isn’t necessary for their business.