Two of the industry’s most accomplished entrepreneurs, Kim Perell and James Brennan, launched 100.co, an Artificial Intelligence-powered company that is reinventing the product creation and go-to-market processes legacy consumer brands have relied on for the past century. 100.co has already accelerated new product development by more than 30 percent compared to traditional CPGs, and is launching two new consumer brands in 2021.
With consumers abandoning traditional brick-and-mortar retail channels and loyalty to traditional brands declining, consumer packaged goods (CPG) companies are losing market share. Eighty percent of new CPG products fail in their first year, according to a 2018 Nielsen study.
This points to a failure of CPG companies to keep pace with the flight of consumers to alternative retail channels and fragmenting digital and social media platforms. 100.co founders Perell and Brennan believe this failure rate shows that traditional CPGs are out of touch with consumers, particularly the Millennials and Gen Z, and they are betting big on the massive opportunity to address this gap.
“We are now in 2021, yet most CPGs are still using outdated market research, advertising, distribution, and selling techniques. These approaches are slow, and they struggle to keep pace with the digital-first and social media-savvy consumer,” said Perell, CEO and Co-Founder of 100.co. “Our platform combines powerful data with the right influential partnerships, to give us the recipe to build brands with a purpose that we know consumers want and need today.”
At the heart of 100.co is an AI platform named CLAIRE™, which analyzes tens of thousands of data points and suggests market viability, product attributes and creative decisions even before a product investment is made. Combined with collaboration with influential celebrities at the start of the brand development journey, 100.co is bringing new brands to life in months vs. years.
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The company currently has two consumer brands in development, launching with two influential personalities in the health & wellness, and beauty sectors. Both co-founding celebrities have a commitment to purpose and giving back, which is integrated into the business model from day one. Unlike traditional brand partnerships, each brand’s celebrity co-founder plays a key role in the innovation process with 100.co, developing products and driving consumer engagement.
Brennan, Chairman and Co-Founder of 100.co, adds, “After nearly two decades of building brands across multiple categories, I know firsthand the enormous role that passionate and influential co-founders play in brand success. I strongly believe that creating brands with today’s most influential individuals and leaders backed by data-driven insights is the modern, improved way to brand creation.”
Perell concluded, “James and I have built a company that has diversity, innovation, and purpose, built into its DNA. If 2020 taught us anything, it is that everything is ripe for disruption.”
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