Today we’d like to introduce you to Divya Gugnani. They and their team shared their story with us below:
Divya Gugnani, CEO and Co-Founder of Wander Beauty is a serial entrepreneur and investor. With a B.S. from Cornell University and an M.B.A. from Harvard Business School, she began her career in investment banking at Goldman Sachs and later transitioned to private equity and venture capital at Investcorp International and FirstMark Capital.
Divya got bitten by the entrepreneurial buy, co-founded multiple companies, and then got promoted to “Mom”. As a result, her beauty routine took a backseat to the demands of her increasingly busy lifestyle. She started doing her makeup in the subway on her morning commute and did her skincare routine at the gym. This real-life challenge sparked the idea for Wander Beauty, co-founded in 2015 with Lindsay Ellingson.
Wander Beauty focuses on multitasking beauty essentials, designed for the modern woman always in motion. Each multitasker is co-created with the community and enriched with clean, globally sourced ingredients that work with your skin, not against it. With over 40 prestigious beauty awards, Wander has not only captivated a loyal following of celebrities and influencers but also resonated with everyday women seeking efficiency without sacrificing elegance in their beauty routines.
Divya’s latest venture, 5 SENS, delves into the world of fine fragrances. This sensory experience is designed to ignite the senses, capture diverse moods, and inspire new moments.
Divya Gugnani’s role in the industry goes beyond creating innovative products and brands; she’s also a driving force in empowering diverse entrepreneurs. She has been an active investor over the last 20+ years with over 76 investments, primarily through her investment vehicle Concept to Co.
Can you talk to us about the challenges and lessons you’ve learned along the way? Looking back, would you say it’s been easy or smooth in retrospect?
Building Wander Beauty hasn’t been a walk in the park. While the journey has been incredibly rewarding, there were many bumps and detours I faced:
Competition is fierce: The beauty industry is a crowded space, and standing out with a unique brand proposition can be tough. In the early days, it was a constant hustle to prove Wander Beauty’s value proposition – effortless, effective beauty essentials for time-starved women on the go. Building brand awareness and educating consumers took dedication and strategic partnerships.
Product formulation woes: As a beauty enthusiast, I knew I wanted high-quality, effective formulas. My Co-founder Lindsay Ellingson and I worked very hard on every multitasker we produced. Getting the perfect blend of ingredients, textures, and colors just right was extremely challenging! There were countless rounds of revisions, lab tests, and late nights spent tweaking formulations to achieve that Wander-full standard.
Scaling pains: As Wander Beauty grew, scaling operations and maintaining the brand’s identity became a new challenge. It’s a delicate dance to ensure consistent quality and customer experience while expanding your reach. Thankfully, I surrounded myself with a talented team who shared my vision and helped navigate these growing pains.
These are just a few of the struggles I’ve encountered. But here’s the thing: the challenges are what make the successes even sweeter. Every obstacle overcome has made Wander Beauty stronger, more resilient, and even more dedicated to empowering women to embrace their effortless beauty, wherever they wander.
Thanks – so what else should our readers know about Wander Beauty?
What we do & specialize in: We’re all about effortless beauty essentials for the modern woman on the go. Think high-performance makeup and skincare that are jet-setter-approved, easy to use, and look naturally flawless. We don’t compromise on quality, using good-for-your-skin ingredients that deliver real results. Our formulations work with your skin, not against it.
What sets us apart: Wander Beauty is all about simplicity & portability. Our products are multi-tasking marvels, designed to streamline your routine and fit perfectly in your carry-on. Plus, we’re infused with wanderlust, inspired by the globe-trotting spirit, and formulated to be effective wherever you wander.
Brand pride: I’m bursting with pride over a few things! Firstly, our loyal and engaged community. Wander Beauty isn’t just a brand, it’s a movement of empowered women embracing their effortless beauty. Secondly, we have won over 40 beauty awards and have a roster of beauty editors, influencers, and celebrity fans who are all organic. Finally, our commitment to clean beauty & sustainability. We’re constantly innovating to create high-performing products that are kind to your skin and our planet.
What I want readers to know: Wander Beauty is more than just makeup and skincare. It’s an empowering spirit, encouraging women to embrace their authentic selves and chase their dreams with confidence. We believe beauty should be effortless, enjoyable, and a reflection of your unique journey. So, whether you’re a seasoned jet setter or a busy mom on the go, Wander Beauty is here to help you look and feel your most beautiful, wherever you may wander.
Risk-taking is a topic that people have widely differing views on – we’d love to hear your thoughts.
Risk-taking, for me, is like a high-altitude hike – exhilarating, and potentially dangerous, but the view from the summit is unbeatable. While I wouldn’t necessarily call myself a reckless daredevil, I’ve embraced calculated risks on my journey with Wander Beauty. Here are some examples:
Launching a new brand: In itself, starting any business is a risk. You pour your heart, soul, and resources into something with no guarantee of success. In my case, it was venturing into the competitive beauty industry with a niche focus on “on-the-go” women, a concept not fully embraced at the time. It was a risk, but I believed in the need and the market potential.
Securing funding: As a female founder, pitching to investors, particularly those who couldn’t fully grasp the “time-starved women on the go” vision, was nerve-wracking. It meant overcoming skepticism and highlighting the unique value proposition, which took perseverance.
Formulating innovative products: Creating high-performance, portable makeup with clean ingredients meant pushing boundaries and experimenting. We ventured into untested waters with some formulations, trusting our instincts and expertise. It wasn’t always smooth sailing, but the payoff of innovative, customer-loved products was worth the initial leap.
Scaling internationally: Expanding beyond our initial US market meant navigating different regulations, cultural nuances, and logistics. It involved trusting new partners, adapting marketing strategies, and venturing into the unknown. While challenging, it opened doors to a wider audience and fueled our global growth.
In my personal life, I’m a thrill-seeker, but in business, I believe in calculated risks. It’s about thorough research, understanding the potential downsides, and having a clear plan to mitigate them. It’s also about trusting your intuition and surrounding yourself with a supportive team that believes in the vision.
The biggest rewards come from stepping outside your comfort zone. As Maya Angelou said, “You can’t cross the sea merely by standing and staring at the water.” So, while I encourage calculated risk-taking, it’s crucial to be prepared for the journey, embrace the stumbles, and celebrate the incredible views that await at the summit.
Contact Info:
- Website: www.wanderbeauty.com
- Instagram: @wander_beauty
- TikTok: @wander_beauty
