80. Kimberly Shenk on Bringing Transparency and Trust to the Beauty Industry

Purpose and Profit with Kathy Varol

Kimberly Shenk is the co-founder & CEO of Novi Connect, a company that was inspired out of transparency pain points Kimberly experienced firsthand launching an indie clean beauty company.

Novi Connect is the first data-driven marketplace for personal care product development. Novi helps brands create clean and sustainable products by working with suppliers, manufacturers, brands, and retailers to validate ingredients along the supply chain. The company acts as a neutral party to ensure full transparency while protecting intellectual property for each group.

Kimberly was formerly the Head of Product/Data Science for multiple tech startups, including Eventbrite, and served as a Data Scientist and Officer in the United States Air Force. She holds an MS from MIT and a BS from the U.S. Air Force Academy.

If you’re in the beauty industry and would like to learn more about Novi Connect, head to their website and sign up for a free account: noviconnect.com/purpose

In this episode, we discuss:

● How to start building a trusted network across stakeholders in order to deliver benefits along the supply chain

● How intellectual property within industries can create challenges for transparency

● Why it’s difficult to verify source ingredients the further down the supply chain you go

Key Takeaways:

● The Empowerment of Third-Party Verification. The power of third-party verification comes from two crucial factors. First,unlike internal assessments, an unbiased outside entity assesses the product. A third-party verification cannot be bought, and this independence ensures the integrity and credibility of the verification process. Second, these verifiers stake their own reputation on their assessments, underscoring their accountability and commitment to integrity. To maintain credibility and mitigate legal risks, they rigorously conduct due diligence before endorsing any product.

● Broken Systems Inspire Innovation. I’ve said this many times and I’ll say it again: When you experience a broken system, that experience is an invitation to fix it. To innovate a solution takes courage, creativity, and a leap of faith. Kimberly experienced a broken system when running her own beauty brand, and that experience inspired her to create a new company that fixes the challenges she encountered. By creating Novi Connect, she’s created a solution that helps an entire industry.

● Data Science's Role in Advancing Transparency. The evolution of data science has revolutionized our capacity to capture and analyze diverse datasets, fostering transparency within businesses and across sectors. This transparency helps us make more informed decisions, driving progress and accountability. Looking ahead, the integration of AI holds promise for further transparency, shaping a future where data-driven insights catalyze positive change.

References:

Connect with Kimberly on LinkedIn

Novi Connect

ChemFORWARD

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