RESEARCH/ PATENTS/ EFFICACY/ INNOVATION

Integrating primary research in cosmetics natural products

development

1988: While still a pharmacology student, George Korres starts

working at Athens’ oldest homeopathic pharmacy - owned by Mr.

Tzivanides - where he first begins mixing natural pharmacy

ingredients to create herbal preparations, natural remedies

and, eventually, cosmetic products.

1992: George sets up an exemplary homeopathic laboratory at the

pharmacy, based on international lab standards. Led by the

pharmacy heritage, his deep knowledge and understanding of over

3,000 herbal remedies, and his passion for a more natural

approach, George starts developing formulas that are first

tested on his own friends

1996: KORRES is born.

The brand’s simple philosophy is rooted in the use of natural

and / or certified organic ingredients of the highest quality;

skin and environmentally friendly products with clinically-

tested efficacy; and products that are affordable for everyday

use, yet of interesting aesthetics that can ‘inspire & make us

happy’. The first KORRES product is an aromatic herbal syrup

with honey and aniseed, a recipe inspired by ‘rakomelon’, a

warming spirit-with-honey concoction, which George’s

grandfather used to make in his hometown on the island of

Naxos.

KORRES Wild Rose 24-Hour Cream, the brand’s first global

innovation and first ever skincare product, is launched. It

goes on to become a global best-seller.

1999: An American buyer spots KORRES products in a pharmacy

while on holiday on the island of Crete and calls George Korres

asking to be the first to import them to the US. KORRES

products’ international journey begins

2000: The beauty buyer for Harvey Nichols, London, spots KORRES

in New York, and immediately places an order for the store’s

newly created Beyond Beauty section.

A number of partnerships with the most prestigious department

stores in Britain and France ‘including Selfridges, Harrods,

Liberty’s, Bon Marche and Galleries Lafayette’follow.

Although not part of the original brand strategy, this domino

effect spreads KORRES products to most parts of the world.

At the same time, the portfolio expands with the launch of

face, body and hair care products free of PARABENS, SILICONES,

MINERAL OIL, PROPYLENE GLYCOL.

2001: Inspired by the long-lived tradition of applying yoghurt

to sunburned skin, KORRES Yoghurt Cooling Gel becomes the

brand’s second global innovation. After three years in

development, KORRES Yoghurt Cooling Gel is the first cosmetic

worldwide based on edible yoghurt and becomes an instant

international hit, selling over 1,000 pieces per day that

summer and every summer since.

2002: The first KORRES store opens abroad, in London’s Chelsea

2004: Two new stores open in Barcelona and KORRES goes from

cult brand to breakthrough in the US market thanks to the

Sephora network. In the same year, based on the NOBEL-awarded

discovery of the proteasome [ubiquitin-mediated protein

degradation], the KORRES Research & Development Lab together

with academic partners begins primary research on Proteasome &

Human Ageing, focusing on enhancing the proteasome function

with natural antioxidants

2006: KORRES products hit shelves in Asia, starting in Japan

and China. Later in the year, KORRES COLOUR launches.

KORRES is ranked among Europe’s 500 highest developing

companies

2007: The year kicks off with the team’s relocation to its new

headquarters in Inofita, on the outskirts of Athens.

KORRES stores open in New York, Paris, Shanghai, Madrid, Vienna

and Geneva, while the Greek Association of Pharmacists honours

George Korres for his contribution to Greek trade and business

development.

In March, KORRES is listed on the Athens Stock Exchange and in

November

Fulfilling a long-term vision of exploring and promoting the

beneficial activity of the country’s unique, native plants, a

mapping of the Greek flora is completed in partnership with the

Laboratory of Organic Farming of the Agricultural School of

Athens. The vision also comes to life through scientific

research on the properties of herbs as well as the brand’s

cooperations with local farmers – teaching & supporting them

through contractual farming – and finally developing an

exemplary, first-for-Greece, herbal extraction unit.

Key to the KORRES vision are ethical, environmental and social

programmes that support local communities and endangered

plants, while also promoting the production of Greek, organic

active extracts of superior quality.

PRODUCTION

ISO 9001 CERTIFICATION, ENVIRONMENTAL CERTIFICATION, ECOCERT

CERTIFICATION

2008: KORRES is awarded as the World’s Most Innovative Brand by

International Cosmetic News and the KORRES New York flagship

store in SoHo is awarded first prize at the Retail Renovation

Competition.

The brand launches its Formula Facts initiative to communicate

in an honest, transparent, and easy to comprehend way, the

natural percentage of each formula, as well as the ingredients

that are selected and those that are avoided.

In December, the first ever KORRES fragrance launches. George

Korres works closely with the world best perfume houses ‘in

Tokyo, Geneva and Gras’ on three unique formulations to best

represent the brand’s mood through scent.

2009: After five years of primary research on Proteasome &

Human Ageing, KORRES presents its third global innovation, the

first natural antiageing line to achieve higher scores on all

clinical tests compared to the market’s best-selling

conventional antiageing creams. A brand milestone, the

Quercetin & Oak line blows apart the theory that only

conventional age-defying creams work and proves that nature’s

chemistry can be stronger than man-made.

GLOBAL PRESENCE KORRES AT THE ELITE STORES OF THE WORLD

32 Countries

Greece, UK, Germany, Spain, Portugal, France, Ireland, Austria, Switzerland,

Belgium, Netherlands, Luxemburg, Czech Republic, Finland, Norway, Sweden, Italy,

Romania, Estonia, Russia Cyprus, USA, Canada, Brazil, South Africa, UAE, China,

Korea, Japan, Australia

RND milestones

1 FORMULATION EXCELLENCE

• Without mineral oil, silicones, parabens, propylene glycol, phthalates, aggressive chemicals

• Expertise in handling sensitive natural active ingredients

• We maximize the synergy of our ingredients delivering natural formulations with superior efficacy

RND milestones

2 INNOVATION CULTURE

• Always striving to break through new barriers, Korres has produced 3 global beauty industry innovations

• Consistently strong pipeline across different categories

• 3 Korres patented ingredients

• Pioneering product concepts

RND milestones

3 ACCESS TO UNIQUE NATURAL INGREDIENTS

• A paradise of biodiversity, Greece offers more than 6,000 plants and 1,200 endemic species. Plants that have created extraordinary mechanisms since thousands of years can offer their benefits in beauty products.

• For our Plant Hunters, Researchers and Formulators, this natural treasure is a constant source of inspiration and innovation

RND milestones

4 PRIMARY RESEARCH

Primary Research is our focus; skin biochemistry and natural actives are priorities for our collaborations, we firmly bring together nature and science to achieve clinical efficacy

RND milestones

5 SCIENTIFIC PARTNERSHIPS

• A major player in primary research in the chemistry of natural ingredients, Korres has developed a network of high-profile academic and research partners mainly in Europe

• These collaborations allow for valuable exchange of knowledge and expertise and can result in the production of new advanced ingredients and technologies

RND milestones

6 PROCESSES & PROTOCOLS

We take pride in meticulous product quality; developing with processes and protocols that are strict and solid, extracting plants while maintaining all sensitive actives, producing with ultra high water purity, all lead to exceptional products

A TYPICAL FORMULA/ EMULSIONS

WFP (purified usp grade)

Emollients

Actives

Preservation

Thickening agents

Emulsifiers

Key milestone is the Month we finalize formula/ packaging (M) The timeline is developed based on this key milestone

Idea Generation

M-10 to M-8

Feasibility

M-8 to M

Development

M to M+5

Implementation

M+5 to M+12

1.Ideas gathering/

screening

2.Evaluation of ideas

PDS form submission

to all depts

Month M: final formula and

packaging

Preparing Pilot and Trial

Trial production (M+8)

RND tests

Get approvals from

Management team

Efficacy tests/ protocol

development Form of Release for Sale

Receipt of formula

samples/ panels

execution

Key claims/ texts/

artworks/ cost finalisation

New product presentation

material/ key info to

Commercial & PR

Receipt of packaging

proposals

Pilot Production (M+3)

RND tests

M+12 to M+15

pipeline productions

Formula samples and Lab sample stability

Efficacy related claims/ consumer relevant claims & actives in the beauty industry

Product design criteria need to be matched with product

claims, with R&D requirements, manufacturing engineering

and brand identity

Actives must be chosen to reflect these product design

criteria. Actives must be supported by studies demonstrating

their claims and safety for use in cosmetics.

They must be manufactured in industrial scale and be compatible

with final cosmetics formulations

They must be innovative/ effective/ interesting/ easy to

formulate with-Preferably all of the above!

Formulations are tested for stability during development.

They go through tests for dermatological use [PATCH TESTS],

opthalmic use [OCCULAR TESTS], safety assessment [COMPLETE DOSSIER

OF PRODUCT BY EXPERTS IN SAFETY ASSESSMENTS], efficacy tests [e.g.

MOISTURISING, SPF CLAIMS, WRINKLE MEASUREMENTS etc]

MAJOR KORRES INNOVATIONS

Major Innovations in the beauty industry achieved by Korres:

A beauty-world first communication tool:

•KORRES ADVANCED ANTI-AGEING PLATFORMS BASED ON NOBEL-AWARDED SCIENCE

Natural beauty-industry firsts:

• THE FIRST NATURAL ANTI-AGEING PRODUCT THAT IS CLINICALLY PROVEN TO

OUTPERFORM THE CONVENTIONAL ‘GOLDEN STANDARDS OF ANTI-AGEING’: RETINOL AND

PEPTIDES – Korres Quercetin and Oak line (patented technology)

The sales of the black pine line in 2012 brought 4 times the sales of the

previous antiageing line

In particular sales were 375% higher in terms of value and 254% higher as

compared to items sold

• THE FIRST SILICONE-FREE 99% NATURAL PRIMER – Korres vitamin E make-up

primer

An ingredient first:

• THE FIRST BEAUTY PRODUCT WITH EDIBLE YOGURT – Korres Yogurt cooling gel

with Greek Yogurt

Innovative Beauty concepts:

• INTRODUCING A NEW BEAUTY CATEGORY: KORRES WILD ROSE SLEEPING FACIAL

• FORMULA FACTS– AN HONEST MESSAGE ABOUT SKINCARE

THANK YOU!