Serial beauty entrepreneur David Chung — the man behind Farmacy, 3Lab and Englewood Lab — is starting yet another business.
The iLabs building in Mahwah, N.J.
Called iLabs, Chung’s new venture is meant to bring innovative beauty products to a broad group of companies, including indie brands looking for small manufacturing runs. The 19-acre, 146,000 square-foot campus in Mahwah, N.J. is slated to officially open in January 2020.
The business operates in two different divisions. Chung calls them “disruption one” and “disruption two.”
The first is centered around innovation. Chung plans to harness innovation coming from chemists based all over the world, and bring those products to market. In exchange, those chemists will be paid for their contributions.
Chung likens the concept to Airbnb. “This is more business to business, where I’m creating more entrepreneurs of chemists. They have great ideas, amazing thinking-outside-the-box chemists in Korea, Japan, France, Italy, but they don’t have the platform to become an entrepreneur and make big money out of that,” Chung said.
The innovation will be offered up to beauty brands, Chung said. iLabs will also have an in-house chemist team of between 20 and 30 people, as well as a co-working-type space called “WeLabs” where chemists can come, rent