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Speaker 1: Yea broadcasting live to New York, Bloomberg eleventh Rio to Washington,

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Speaker 1: d C. Bloomber to Boston, Bloomberg twelve hundred to San Francisco,

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Speaker 1: Bloomberg to the country, US Exam Channel one nineteen and

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Speaker 1: around the globe the Bloomberg Radio plus Stappen Bloomberg got gone.

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Speaker 1: This is taking stock. Coming up on taking stock, We're

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Speaker 1: gonna take stock of luxury. What makes luxury. We're gonna

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Speaker 1: talk about the challenge in the luxury business, but specifically

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Speaker 1: is it a luxury to look and feel youthful. We'll

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Speaker 1: be talking about skincare. That's all coming up on taking stock. Well,

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Speaker 1: it's going to be quite a conversation when we look

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Speaker 1: at something with a sixteen hundred dollar price tag PAIM.

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Speaker 1: Of course, if you think about what it costs to

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Speaker 1: do any sort of plastic surgery, that six hundred dollars

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Speaker 1: could be quite a bargain, particularly if it works. Let's

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Speaker 1: get back to Captain Cobby in the newsroom. She's got

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Speaker 1: a limit business flash. Thank you, Kathleen and Bloomberg. Taking

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Speaker 1: stock has brought to you by Sector Spider ets. Why

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Speaker 1: buy a single stock when you can in us in

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Speaker 1: the entire sector visit sector spdrs dot com or call

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Speaker 1: one A six six sector at S. Stocks narrowed their

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Speaker 1: advanced A dollar extended as gains and treasuries fell after

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Speaker 1: Federal research here down at. Yellen said an interest rate

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Speaker 1: increase in the coming months may be appropriate, echoing recent

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Speaker 1: remarks by policy makers. Speaking at Harvard University, Yellen stopped

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Speaker 1: short of giving an explicit hint that the Fed would

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Speaker 1: act next month. Chris Condon, Bloomberg Fed Reporter, spoke with

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Speaker 1: him Fox and Kathleen Hayes on Bloomberg's Taking Stock about

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Speaker 1: Yellen's comments, Well, I would not say that we heard

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Speaker 1: anything from her that was markedly different from what others

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Speaker 1: on the committee have said in recent days or week.

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Speaker 1: But it's entirely different coming from the chair who she is.

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Speaker 1: In addition to what exactly she said, we check in

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Speaker 1: markets every fifteen minutes throughout the trading day down. Industrial

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Speaker 1: laborage is up twenty four points and eighth of a

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Speaker 1: percent is trading at seventeen thousand, eight hundred fifty degree

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Speaker 1: SMP five thundered up six points a third of a

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Speaker 1: percent at two thousand nine six. Then AzaC is up

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Speaker 1: twenty three points that to gain a half of percentage.

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Speaker 1: S treating at four West Texas intermediate crude oil down

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Speaker 1: seventh cents of barrel to forty forty. Scotswold has down

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Speaker 1: twelve dollars seventy cents ounce to twelve ten even, and

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Speaker 1: the tenure treasury is down six thirty seconds with the

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Speaker 1: yield of one point eight five percent. Among today's top

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Speaker 1: business stories, the Labor Department says Verising Communications and its

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Speaker 1: two unions have reached an agreement in principle on a

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Speaker 1: new labor contract. It paves a way for about thirty

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Speaker 1: nine thousand landline employees to return to work after a

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Speaker 1: forty four day strike. The parties are putting the four

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Speaker 1: year deal in writing and the union members should return

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Speaker 1: to work next week. And that's according to Labor Secretary

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Speaker 1: Thomas Perez. And now a look at some of the

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Speaker 1: other stories were following today on Bloomberg Radio. Katherine, thank

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Speaker 1: you from the Bloomberg News Room. I'm Mark Crumpton. This

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Speaker 1: news update is brought to you by the jeep Grand Cherokee,

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Speaker 1: the most awarded s u V. Ever, the Grand Cherokee

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Speaker 1: continues to raise the bar with its luxurious interior and

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Speaker 1: legendary four for capability. Drive one at your local jeep dealer. Today,

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Speaker 1: more than seven decades after the world's first atomic bomb attack,

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Speaker 1: Barack Obama became the first sitting American president to visit

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Speaker 1: Hiroshima memory of the morning of August six. Let's the

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Speaker 1: president tried to honor those killed while avoiding any sense

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Speaker 1: that he was apologizing for The United States advances in

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Speaker 1: seat belt and airbag safety keep you secure while you're

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Speaker 1: in your car. But that's the front seat. The back

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Speaker 1: seat is a very different story. The National Highway Traffic

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Speaker 1: Safety Administration plans to put crash test dummies in the

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Speaker 1: back seat for the first time. Bloomberg reporter Jeff Plunges says,

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Speaker 1: researchers are concerned the back seats not only unsafe, but

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Speaker 1: more of us are riding back there. The cab, uber

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Speaker 1: and lyft people are really using them more and more.

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Speaker 1: While front seats are built to absorb energy during accidents,

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Speaker 1: they have a tendency to collapse in even low speed

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Speaker 1: rear end collisions, battle injuring anyone in the backseat, even

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Speaker 1: in car seats. Amy Morris, Bloomberg Radio Washington, n y

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Speaker 1: U is apologizing for allowing donated bodies to end up

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Speaker 1: in mass graves meant for unclaimed or unidentified corpses. The

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Speaker 1: Time says the remains of people who donated their bodies

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Speaker 1: to science were buried on Heart Island. Global News twenty

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Speaker 1: four hours a day, powered by our two hundred journalists

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Speaker 1: in more than one hundred fifty news bureaus around the world.

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Speaker 1: From the Bloomberg News Room, I'm Mark Crumpton, Catherine, thank you,

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Speaker 1: and recapping now. Industrial average is up twenty five point

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Speaker 1: at seventeen thousand, eight hundred fifty three, smp F founded

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Speaker 1: up six points at two thousand, ninety six, nast AT

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Speaker 1: up twenty three point four. And that's a Bloomberg business

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Speaker 1: flash bo. We're taking stock the Lux Life, goal jowls

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Speaker 1: unclaimed properties of valuable nature. Now that you live in

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Speaker 1: a great front house, can I be your financial adviser?

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Speaker 1: It's good to be king. I thought of your right

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Speaker 1: and I've got out in Remember how much I wanted

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Speaker 1: a big backyard with Grecian statue s shaped edges and

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Speaker 1: three swimming cools. Well I got that. Bloomberg taking stock

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Speaker 1: the Lux Life on Bloomberg Radio, The Lux life well.

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Speaker 1: One area of luxury is skincare younger consumers who are

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Speaker 1: more aware of the value of taking care of their skin. Indeed,

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Speaker 1: it is also a global business, estimated to reach about

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Speaker 1: eleven billion dollars by twenty eighteen. Here to tell us

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Speaker 1: more about the industry and about a specific product is

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Speaker 1: Paul Walgren. He is managing director of Skylar Brand Ventures

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Speaker 1: and he joins us now. Paul, thanks very much for

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Speaker 1: coming and appreciate it. Thanks. Thanks. Before we get to

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Speaker 1: the details of Skylar Brand and so, I'm just offering

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Speaker 1: maybe you could share some details of your previous experience,

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Speaker 1: because you've had luxury experience plus consumer products, tell us

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Speaker 1: about it. Yeah, I sort of grew up as a

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Speaker 1: retailer at the age of fourteen years old and spent

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Speaker 1: early part of my life running retail stores in the

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Speaker 1: consumer electronics industry, and later in life moved to Europe,

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Speaker 1: did my m b A and basically fell into uh,

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Speaker 1: the luxury goods industry over the last fifteen eighteen years,

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Speaker 1: in the watch and jewelry industry in the U S

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Speaker 1: and globally. How did you start running stores at age fourteen?

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Speaker 1: My friend, Luckily I rode my skateboard down the street.

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Speaker 1: My brother was working at the store, and they pulled

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Speaker 1: me in and said, you want to start sweeping the floors,

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Speaker 1: and I said sure. And then eventually I became the

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Speaker 1: talkative little salesman, and uh wind up being one of

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Speaker 1: the top sales person sell through high school and college

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Speaker 1: and and wand up working for the company for sixteen years.

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Speaker 1: And it started really give me the base of customer

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Speaker 1: service and taking care of customers. What is a neuro peptide?

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Speaker 1: Peptides or proteins as we know, but a neural peptide

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Speaker 1: works a little bit on a deeper level. UM to actually, uh,

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Speaker 1: actually relax. I don't want to go too far into

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Speaker 1: the technical part of it. I'm not the scientist. But um,

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Speaker 1: there's a range of him in our product that basically

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Speaker 1: work on the skin and help basically, UM, calm the skin,

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Speaker 1: help it repair itself. UM. A lot of functions that

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Speaker 1: these these new peptides do in skincare products. Today, I

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Speaker 1: misspoke on the price tag. It's a hundred sixty dollars

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Speaker 1: or rather than sixteen hundred for one of your UM

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Speaker 1: for a racer right correct eras XP thirty. Yes, Uh, however,

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Speaker 1: and actually, when you think of luxury and what people pay,

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Speaker 1: that's to me like bargain luxury. Honestly, I think it

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Speaker 1: is how a lot of people look at although for

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Speaker 1: a lot of people like a hundred sixty bucks, Come on,

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Speaker 1: that's way too much. I could get a I could

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Speaker 1: I could go to Sephora and get a great product

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Speaker 1: for half or a third of that price. What makes

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Speaker 1: this special and what is the response? What is it

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Speaker 1: only high end customers buying it? What's response been over

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Speaker 1: the last year since you launched, well, we launched an

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Speaker 1: exactly a year ago. The response has been amazing. We um.

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Speaker 1: We are considered what they called prestige anti aging in

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Speaker 1: that category as opposed to what they call mass. So

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Speaker 1: it is a price point, you know, which again for

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Speaker 1: the average consumer is on the higher end side. But

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Speaker 1: what we did is before bringing to market, we did

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Speaker 1: a tremendous amount of clinical UH studies UM and actually

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Speaker 1: proved before we even put on the market for the

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Speaker 1: product actually works well. UM. We really try to punch

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Speaker 1: above our weight, act like biotech and pharma. Being yet

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Speaker 1: a cosmetic skincare startup UH and priced it reasonable. We

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Speaker 1: didn't want to play the game. But the consumers pricing

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Speaker 1: at four or five dollars, which we quite only could

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Speaker 1: have priced it at that in competitive you know landscape

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Speaker 1: of what's out there, but we wanted to price at

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Speaker 1: a level that consumers felt very comfortable, you know, using it,

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Speaker 1: and we gave it a larger supply. It's about a

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Speaker 1: two months supply, so in the end it's quite reasonable

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Speaker 1: for the time that it actually works. This is aimed

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Speaker 1: for men and women. Well, obviously any aging is always

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Speaker 1: sort of focused on women, and I'd say this is

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Speaker 1: probably focused women thirty five to seventy or anywhere in between.

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Speaker 1: But of course men pick up on it because we're all,

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Speaker 1: you know, concerned about aging and skin is skin. At

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Speaker 1: a certain level, it's the competition injectable of products designed

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Speaker 1: to smooth out ring goals. I mean, is that the

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Speaker 1: competition that you face, Well, obviously that's im Now you're

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Speaker 1: talking about the what it called the prescription or FDA

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Speaker 1: side of it, were cosmetic. Um, Yeah, I would say

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Speaker 1: we do somewhat compete in away against that that level

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Speaker 1: because our product mimics some of the effects of that

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Speaker 1: and it works. Are clinical studies, the product works within

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Speaker 1: two weeks we were we got an average of sixty

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Speaker 1: four percent reduction of lines and wrinkles within two weeks,

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Speaker 1: which is amazing for a skin care product. We have

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Speaker 1: the UM some people who have been in the industry

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Speaker 1: for thirty or forty years, they've never seen results like that.

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Speaker 1: And even the testing lab came to us while we

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Speaker 1: were in the clinicals and told us you've have something here,

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Speaker 1: and we knew we were onto something very special with

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Speaker 1: this product. So this is luxury where you know, we're

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Speaker 1: saying affordable luxury for a lot of people, right and

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Speaker 1: and you said you could have sold us for a

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Speaker 1: much more four or five hundred dollars, So what is

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Speaker 1: So what is your goal? Is your goal to to

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Speaker 1: have a luxury product that has a mass market? Are

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Speaker 1: you going to introduce more products? How does this to

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Speaker 1: all up? Well? The product right now? Over the last year,

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Speaker 1: we've really tried to set a base. We sell sold

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Speaker 1: directly e commerce UM and we wanted to build out

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Speaker 1: really the base of people using it. And since it

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Speaker 1: works so well, we have and this surprisingly a very

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Speaker 1: high repeat purchase rate of over so that it's not

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Speaker 1: us saying it, it's the market telling us also we've

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Speaker 1: received tremendous sort of I would say, um support from

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Speaker 1: it from editorial side because we won the allub Breakthrough

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Speaker 1: Award in October. Uh was featured on The Today Show

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Speaker 1: to millions of people. So the product really is you know,

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Speaker 1: it's it's it's building its street cred from not what

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Speaker 1: we say about the product, what the market says about it. Um. Yes,

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Speaker 1: we're growing that part of the business where we have

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Speaker 1: more products coming and we just entered our first retailer

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Speaker 1: here in New York City with Clyde and Madison Avenue. Well,

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Speaker 1: congratulations to you. Paul Walgram, managing director at Skylar Brand Ventures,

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Speaker 1: talking to us about ERASA x EP thirty on bloom

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Speaker 1: Big Radio. Coming up on taking stock, the SMP five

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Speaker 1: hundred is up about two and a half percent so

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Speaker 1: far this year. Should you invest money in stocks now?

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Speaker 1: We'll find out. Taking stock continues