Sheree Ladove Funsch: CEO of LaDove

Episode 467

You have an opportunity to help create by producing some of the best hair and body products around. Do you do it? Sheree Ladove Funsch, CEO of LaDove, thinks so. What makes a family business, started by her father, stand the test of time by kicking out great products plus how do you decide to now create your own brand? We hear all this and more. This powerhouse CEO takes us through what it takes to manufacture the best body and hair products, her journey in growing a family business started by her father as well as many of her incredible lessons she has learned along the way. You are going to love this episode and I can’t wait for you to hear it. Now on the #TheKaraGoldinShow.

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Transcript

Kara Goldin 0:00
I am unwilling to give up that I will start over from scratch as many times as it takes to get where I want to be I want to be, you just want to make sure you will get knocked down. But just make sure you don’t get knocked down knocked out. So your only choice should be go focus on what you can control control control. Hi, everyone, and welcome to the Kara Goldin show. Join me each week for inspiring conversations with some of the world’s greatest leaders. We’ll talk with founders, entrepreneurs, CEOs, and really some of the most interesting people of our time. Can’t wait to get started. Let’s go. Let’s go. Hi, everyone, it’s Kara Goldin from the Kara Goldin show. And I am so excited to have my next incredible guest here with us today. So we have Sheree Ladove Funsch with us here today. And she is the CEO of an incredible company that you may not have heard of, because they’re often in the background, creating some of the most incredible haircare and beauty products, skincare products, lots of stuff. And it’s called Love dog. And it is Florida based 45 year old company that was started by sharees father. And this is a story about a family business and taking over the family business. So I cannot even wait to get into hearing a lot more about that decision. Because maybe some people are thinking, do I actually want to take on this business? All of those questions, we’ve had other children of incredible founders on that have had to make that choice along the way. So it’s it’s definitely one that I think is very, very interesting, and not one that you just go and do without actually thinking a little bit more about it. And we’ll also hear about Sharise brands that she has created, too. So I’m very, very excited to jump in and hear a lot more about that. It’s called the cleanest lab. So very, very thrilled to have you here with us today.

Sheree Ladove Funsch 2:21
Oh, thank you, Kara. It’s wonderful to be here. I’m excited.

Kara Goldin 2:25
Absolutely. So you are a cosmetic formulator you are not only the CEO of the company, but you’re a cosmetic formulator and have worked with some of the best hair and body products out there. What is the secret of creating multiple great products as a manufacturer,

Sheree Ladove Funsch 2:44
I think the the secret with us is like we really get into the heads of our clients. And we try to think like our clients. And each client is so independently different with their mission, and what they’re trying to achieve with the brand, what their focus is what their core values are. So we really dive we do a deep dive into that. So we can create something completely unique and special for them. And we also are really good at sourcing the most unique ingredients in the world is become our trademark. So once we delve into the heads of our clients, then we we kind of key in as to, okay, what region what ingredients, what are they looking to do. And we go out and we find them if we already if we haven’t already found them, because we found a lot that we have, we don’t even have homes for yet. So we kind of get really into it. And you know, just really delve in there and create something completely unique. And something that not only the client will love, but consumers will love. So that’s the key.

Kara Goldin 4:00
So this is a family business that your father started over 45 years ago.

Sheree Ladove Funsch 4:07
Yes, yes. Crazy, right. And I never wanted to go into the business. It was not my dream. And in fact, back in the day, when my dad started the business, the business was very, very different because there was no retail in the professional salon space. So and I know that’s so hard for people to believe nowadays and especially for the younger generation. But there was no you couldn’t walk into a beauty salon and buy a product. So my dad actually started the business manufacturing gallon jugs of concentrates, shampoos and conditioners. And it was called like the eight and one or the 16 and one and then they would dilute it at the back bar. And there were very generic flavors like cherry almond and BB gun Apple Blossom. You know, honey, you’ve been in LA. And it was just very, it was a very boring industry. So it was not for me, I wanted to become a lawyer or go into fashion. And I never wanted to go into the business but I did work in the business as a as a kid now they would consider it child labor. But I did learn them business, you know, from a very early age. And, and I worked summers because they wanted to make spending money. So I was going actually to, I was on my way to law school. And one last summer, there was a life changing summer for me, because I retail was starting to take off in the salons. So we were starting to do products that are were little bit, you know, like Paul Mitchell came out with a fast freeze hairspray and a sculpting spray. So it was getting a little bit more. There was a little bit of retail I should say. So that summer, I had the opportunity to meet hairdressers from London. And it was the Mascolo family from Tony and guy. And I had such an amazing summer because I had studied cosmetic chemists, like I’m a cosmetic chemist. So I’ve been working in the laboratory. So I was the chief chemist at that point for that summer. Because the company was much, much smaller. It wasn’t what it is today. It was very small company. And I went over to London and I worked with these hairdressers, and they had academies in London. And it was very fashion forward. And it was it was just so cool. And so amazing. And we created the I created a lot of the first TG products back in the day that summer. And then I told them, I’m going to law school. And they’re like, you can’t go to law school. Don’t go, don’t go. And I had such a fantastic time. And I saw the potential in the business. And I saw the fashion sense and how you needed to bring like, chemists together with hairdressers to truly create unique products. And chemists don’t speak the same language as hairdressers. So I was able to speak the same language with them. And I just changed my life I stayed. And that’s how I got sitting here today. But never in a million years would be like running the dive, I would have said no way I do not want anything to do with it. So it’s kind of funny. It’s funny, your life just happens while you’re making plans.

Kara Goldin 7:57
What year did you actually see your father was still there at the company? You decided to stay?

Sheree Ladove Funsch 8:04
Yes, yes, my dad was still.

Kara Goldin 8:08
And when did he finally retire? Well,

Sheree Ladove Funsch 8:10
that was a whole nother journey. He actually retire. He’s sold the business to private equity. Um, and I was not so happy about it, because I thought it was, you know, in the business and I dedicated part of my life to it. So I ended up working with the private equity team and getting management shares. And then it’s been a long journey, but I was able to buy the company back. So I’m really proud to say that the company is 100% now owned by myself again. So it’s a really good feeling. So I don’t have any private equity, and I’m partners. But it was a long journey. Because you know, there was a lot of debt. And there was a lot of, you know, ups and downs in the business. So it was it was a crash course course and how to survive, you know, expensive debt and all that fun stuff. So it was pretty tough. It was pretty tough couple years, though, more than that. Tough, tough decade, I would say and was able to take that long. Yeah, because they borrowed the money at such a high rate. They paid my dad an incredible price. So it was great for him. He wanted to retire and he didn’t want to sell me the business. So you know, that was his decision, of course, but I really like love the business. So now it’s mine and I’m going to pass it on my daughter, Samantha, we’re still in business. So she’s third generation now. And I will not make her by the business. I will pass it on to her if that’s what she wants.

Kara Goldin 10:03
That’s incredible. So when was that officially done? Where you took the company back?

Sheree Ladove Funsch 10:09
Um, well, 2001 he sold to private equity. And then about 10 years later, I was able to work, work work and, you know, buy them out. So that’s,

Kara Goldin 10:24
that’s incredible. Enlarge that story. It’s

Sheree Ladove Funsch 10:27
fun. Yeah, I love seeing it. It’s nice to have it in the family getting family. It is nice. And there are very few companies right now in my industry that are still family owned. Hardly any. So it’s interesting private equity has come in and acquired a lot.

Kara Goldin 10:50
Yeah, definitely. And unfortunately, often the the operators and the people who are really passionate about it, in many cases, the hairdressers or the creators are gone, and innovation raves and, you know, the heart and soul is, it’s, it’s a tough, it’s a tough road. So that’s a very exciting story to hear that, that you’re back. So. So you work with brands to create products. So what has been maybe the biggest success so far? So Tony and Guy products, I’m guessing, but are there other products that you’ve done as well that you can talk about? Yeah,

Sheree Ladove Funsch 11:32
I mean, obviously, the one people still recognize is bedheads. So that was super, super fun to work on. And it’s really interesting because it bedhead happened by accident, because the brand was TG. So we went and launched something called the bed head stick. So if you ever look at the packaging, on a bed head stick, you’ll see TJ T IGI. Really big and Ben had sticks small. Because the brand was TG and the product was bent head stick. But it took off so massively, that we said, hey, this bed head is a trend, let’s just switch and make the bed head big in the TG small and go for it. So that’s what happened with that. So that was just kind of it’s just funny how certain successes happen. Obviously, there’s a lot of blood, sweat and tears behind the, you know, behind the scenes. But when something takes off, it’s just it’s just crazy. But you know, we just ran with it. So it was a lot of fun. I created this Sunbow haircare product line. So that was super fun to work on. That was really nice. They had like sunscreens and all of that. And they were doing super well. And it’s such a hip company. But they never had haircare. So I was able to really hone in on their message and create an incredible haircare line for them. We do so we do so many, like so many. Yeah, but that’s that was a really fun project to work on. Sunbow Oh, it’s fun when you see the different cultures like sunburn was such a different culture. Because they had surfboards at their office. So people could go surfing whenever they wanted, you know, ping pong tables everywhere bicycles to go bike riding, like when you want, like it was just a very freeing atmosphere. Now that I know is very common and cultures like with Google and Amazon, and maybe not Amazon quite as much, but Google and YouTube and TA. And, you know, companies like that Nickelodeon. They’re all like super fun when you go to their corporate headquarters. But back in the day there, it wasn’t a thing yet. So it was kind of fun to be in pioneering, and working with such a cool brand back in the day, you know, as fun.

Kara Goldin 14:06
So you’re still very hands on. You know, you’re the CEO of the company. And you’re, you are, you know, holding the reins and the vision but I love how you’ve grown up in this industry, you’ve probably done every job in this industry. But what do you think is kind of the key thing that that you’ve learned along the way because obviously, you’ve been through some major trauma, I mean, having this business go and then you had to buy it back. I mean, that’s a story in and of itself. But when you did end up taking it back, you just, you know, you’re gonna do things a little bit differently. What’s kind of the key thing that you’ve seen that has been part of that success?

Sheree Ladove Funsch 14:54
Um, I think the key thing is just creating that culture. creating that culture. Because I saw when I saw the culture I was able to create when my dad owned the company before I was able to create a culture. And I saw him in private equity. And I’m not saying anything bad about private private equity at all, but they, their culture is very different from the entrepreneurial culture. So I think as a CEO, it’s important to set that culture and live that culture. So you really become one with that culture. And that’s what now I’ve been able to do again, and it’s really satisfying, it’s super satisfying for me on a personal level, it’s satisfying when I see my employees, you know how happy they are. And like, just, they have smiles on their faces, and they’re excited to come to work. And they, they just love working. And I think that sometimes that’s not the way it is, in certain big corporations, it gets lost, sometimes private equity, if you don’t have the right CEO that they put in place. They it gets lost. And I think that I’m able to do it, because I grew up in the business, I’ve seen the changes in the business. So obviously, I’ve had to roll with the times and times have changed, you know, with everything, and social media and all kinds of things like that. So it’s always an evolving learning experience for me also. So I’m never, I never think I know more, I always try to put a really good team in place who’s smarter than me, so that I learned from them. So I don’t like to dictate. I mean, obviously, there’s something I believe in strongly, you know, I will make my point and, you know, get it across. But I’ve really liked to hear feedback and have a very interactive culture. So I think that’s really helped me. Yeah,

Kara Goldin 17:03
I love that answer. So, as a creator, you’ve had the opportunity to work with a number of clients, you’ve mentioned some of them. But how do you approach the challenge of creating a product that not only reflects their artistic vision, but also, you know, everything that you know, all of your knowledge, like somebody comes in and says, We want gold leaf specs in our product, and I’m making this up, but you’re confident that that’s not going to work? Right. But how do you balance the crazy ideas? Right, and founders have a lot of crazy ideas. Right? And I mean, how do you balance that? Well,

Sheree Ladove Funsch 17:51
I kind of have a very funny story along the lines of that. I don’t know if you remember Aveda and I’m the founder of Aveda Horst.

Kara Goldin 18:02
I remember reading about him, okay,

Sheree Ladove Funsch 18:05
I had the pleasure of working with him. And he was a very dynamic man, he would get on stage and like eat and drink his shampoo. And he had his products and there were all kinds of crazy things that he would do. So he had a vision that he wanted to create a product that was 100% natural. So but would work and this isn’t a haircare formula, because I it’s I could do something pretty close, I can do some natural skincare products like that. But it’s an actual shampoo that has to focus. And this is back in the day where there weren’t there wasn’t as much access to truly natural ingredients. So I basically formulated for him. And the project was 95% natural. I thought I was doing really well. Like I got it really far. Like I pushed the limits on this and it worked really well too. So I mean, no one is created that there’s only one person in the industry back in the day who did that. So sitting in a meeting with him, and huge everyone around the conference table. I don’t know there’s like 3040 people around the conference table. And I’m like horse, I got this like it’s 95% Natural. He literally stood up, yelled at me and threw a chair at me across the room. I had to duck so I didn’t get hit. And he’s like I told you and he had a German like a German accent. He’s like I told you 100% natural, and he like then threw the bottle at me. And I was just like, Oh man, that was a tough nut to crack. Like that was that was hard. That was one that like, that was my hardest, I must say, did you fire

Kara Goldin 20:04
that? That client of yours at that point for throwing a chair, I noticed the craziest story. No,

Sheree Ladove Funsch 20:12
I didn’t. I like I felt like what to me? Challenge. I kind of was intrigued by it in a really crazy way. Um, but I was like, You know what, I’m gonna do something. So I was able to get some, a couple products that were 100. But I mean, to me the performance wasn’t where it shouldn’t be. But he was happy. So okay. But um, yeah, it was crazy. That was crazy. I can literally see it this day.

Kara Goldin 20:49
Did he continue with that product in particular did it eventually. The

Sheree Ladove Funsch 20:54
95% one he did not do. So the couple of the 100% ones? Yeah, he did it under his line. So. Yeah, it was it was interesting. It was a challenge.

Kara Goldin 21:09
That’s wild. I just read recently, that you had done a product for a princess that that had created a product do you want to share a little bit about that story. I’m sure she did not throw a chair at you

Sheree Ladove Funsch 21:27
know, she was she was amazing. And it’s like beautiful, elegantly. The full embodiment of grace, like, Gee, I can’t say enough good things about her. So I developed this reputation. So in addition to working at Ludovic being at Ludham, I developed this reputation as being a cosmetic chemist to fix one off needs. So I had celebrity clientele that would reach out, and I would fix someone’s acne or I would, you know, do something here in there, a crazy hair gel for a movie set where they can’t move certain things. So there were all kinds of really fun projects. And to me, it was more of a passion project. Because I felt like it kept me really sharp and on my toes and challenged me a lot. So I was someone who knew Princess Diana very well reached out to me, and said she wants me to create a hairspray for Halloween, like for her getting on and off helicopters because her perfectly quaffed hair, um, you know, the blades of the helicopter, make your hair go crazy. So, she wanted me to do that. So I worked very closely with her hairdresser, Richard Dalton, to create that product for her. And it was it was so much fun. It really was, that was a that was another project that it was really cool. I got to go to Kensington Palace, and there’s something super special about, you know, driving through the gates of a palace. You know, I’m an American girl like, and I have never been to a palace with the Princess, you know. So it was it was really, really exciting to go there for tea and to experience at all. But and then we created this spray, it never went to market. It was just for her. And, you know, we found this unique GM that was able to give us the level of hold we needed but also the flexibility we needed, because she did not want to have that like, held, you know, helmet head type feel to our hair look. So it was it was interesting. I had to find this special GM and create this product. So it was it was amazing.

Kara Goldin 24:02
Oh, that’s so fun. So you created your own brand. Fairly recently. What when did this all happen? Yes.

Sheree Ladove Funsch 24:13
So what happened was when my daughter unfortunately was diagnosed with leukemia, it was kind of a wake up call for us. Because my daughter was just a product junkie, like every product you could imagine she had she bought it like it was crazy. So when she was going through chemo, she couldn’t use anything on her skin. Her skin was literally peeling off. It was really tragic. But in addition to that, because there’s so many it made me realize how many toxic chemicals there really are in products. And it’s not just the chemical they put in it. It’s the byproducts of the chemicals. So a regular consumer wouldn’t be able to see it on a label, because they wouldn’t realize that something has benzene donors and benzene causes leukemia and a lot of other cancers. So there’s so many things. So it really, um, tax me. And my oldest daughter, Samantha partnered with me on this brand. So she took the head of it because she saw what her sister was going through. And I directed the lab. And we just worked and worked and worked to develop a line, it’s called the cleanest lab, where you weren’t not launching a ton of products, we’re going to launch products slowly, and when the product is right, and so we’ve launched a shampoo, a conditioner, a lead in hairspray. So it’s kind of a super simple regimen. Because Ashley couldn’t find a shampoo to use like it. I mean, it’s very hard. And it’s pure. And she would send me the labels on everything. And And luckily, you know, I am a cosmetic chemist and I understand chemistry. So I was able to decipher No, don’t buy that. Don’t do this, don’t do that. So I was having to like figure it out and have my lab make it for her. So we launched the haircare, then we worked really, really hard on doing an anti aging cream, which we call no tox, which is just about to launch or it’s just launching now. But we call it no tox because it’s non toxic. And then it also it replayed, it doesn’t replace your Botox, but it extends the life of your Botox or if you don’t want to have Botox, it really helps to make your wrinkles go away. So it’s really amazing product. And then we haven’t launched yet, but we have them ready to go we have three cleaners. Because another problem she had was with, she had to get rid of all the cleaning the cleaners in her house. So we had to develop something that would really clean and will kill bacteria will kill germs, but is basically non toxic. So we looked at every project or a lot of products of almost every product on the market, I should say. And the problem is that everyone’s saying clean beauty, but everyone’s interpretation of clean beauty is so different. So what we say at the cleanest lab is we say we’re going for pure pure, pure beauty. So we’re going for pure intentions. And also, you know, non toxic. So you’ll see things that maybe don’t look 100% natural, but they are the best ingredient that for that purpose to be used and they are non toxic. And then you’ll see natural ingredients in the products, you’ll see shorter ingredient lists, you won’t see a million ingredients embellishing a marketing label. So we’re taking those marketing claims, and we don’t want those marketing claims anymore. So that’s we’re really trying to have efficacious products that work for people who need it, people for cancer and also all of us because we want to prevent, you know, all these illnesses and things that can happen by using the wrong beauty products when you don’t even realize you’re using the wrong beauty products.

Kara Goldin 28:32
I love the story on it, too. So is so she is she going to share that story. The backstory of why you guys are launching the cleanness lab. Yes.

Sheree Ladove Funsch 28:44
Yeah, definitely. Definitely. Definitely an Ashley, the younger one who’s not obviously involved in the business in the in London business. But she was very much instrumental in testing these products, and, you know, evaluating them and doing all of that. So she is the only thing she uses by now because it’s the only thing she can use. But she is she’s so excited and she gives it out at our cancer hospital. So she gives us amazing. She just loves doing that. That

Kara Goldin 29:23
is such a great story. So last question. So you’ve had a lot of advice along the way, from people you sort of fell into this role of running a company that you fought for, as well and got it back which is such a great, great story. But you probably received advice along the way from people that you admire. Maybe you even read in a book and you picked it up. But if you had to Think about any advice that had really, that really helped you along the way? Because there’s a lot of good advice. But there’s also not so good advice, right, that we all have to kind of sift through what what would be the advice during those most challenging times that you remember? And that’s really helped you that you could share with us?

Sheree Ladove Funsch 30:23
Oh, my gosh, well, I think like, one of the things is when private equity did come in, and I was quite young at the time, when they did come in, they put in a non executive chairman of the company, and I was very close to him. And he mentored me. And he was, he is an amazing man. And we’re still very close to this day. And he basically told me about the five levels of being a CEO. And he said, most CEOs only get to the fourth level, because they’re too controlling, they want to micromanage. They can’t give up like that control. And he said, You have to remember to get to that fifth level of being a CEO, that if you are not there tomorrow, will your company succeed for generations to come? So you need to build your team. And you need to build your company, because God forbid, there’s an accident or something happens tragic. Do you really want your company to die with you? Or do you want your company to move forward for future generations, and that kind of always stuck with me. And I always thought, succession planning, and especially planning, and I found like when I found myself being like, oh, I can just do this, or I took a step back. And I was like, You know what, I need to teach my team, I need to bring my team up. So that if I’m not here, my team is better than me. So that was, that was one piece of advice that I’ve followed. I

Kara Goldin 32:09
love that will Sheree such an amazing, amazing leader and company. And lots to think about here, for sure everyone needs to check out the cleanest Lab, which is the newest project, we’ll have everything in the show notes where people can check that out. But also love dove and everything that you’re doing, and hopefully get a chance to meet you too. So this is such an honor to meet you truly. And I wish you guys all the success and so excited now I’m going to be looking at every beauty and skincare product and wondering whether or not you have your hand in it somewhere. So it’s got good to have my curiosity going for sure. But thank you again. And thanks, everybody for listening.

Sheree Ladove Funsch 33:00
Thank you, Karen. Thank you so much.

Kara Goldin 33:02
Thanks again for listening to the Kara Goldin show. If you would, please give us a review. And feel free to share this podcast with others who would benefit and of course, feel free to subscribe so you don’t miss a single episode of our podcast. Just a reminder that I can be found on all platforms at Kara Goldin. And if you want to hear more about my journey, I hope you will have a listen or pick up a copy of my book undaunted, which I share my journey, including founding and building hint. We are here every Monday, Wednesday and Friday. And thanks everyone for listening. Have a great rest of the week, and 2023 and good bye for now. Before we sign off, I want to talk to you about fear. People like to talk about fearless leaders. But achieving big goals isn’t about fearlessness. Successful leaders recognize their fears and decide to deal with them head on in order to move forward. This is where my new book undaunted comes in. This book is designed for anyone who wants to succeed in the face of fear, overcome doubts and live a little undaunted. Order your copy today at undaunted, the book.com and learn how to look your doubts and doubters in the eye and achieve your dreams. For a limited time. You’ll also receive a free case of hint water. Do you have a question for me or want to nominate an innovator to spotlight send me a tweet at Kara Goldin and let me know. And if you liked what you heard, please leave me a review on Apple podcasts. You can also follow along with me on Facebook, Instagram, Twitter and LinkedIn at Kara Goldin. Thanks for listening

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