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systems has been a winning strategy for our business growth . These value-added services serve as an extension of our customers ’ R & D departments , freeing up their internal resources and accelerating product launches . OraLabs works with customers in different ways depending on their needs . This ranges from making a product to exact customer specifications , including technology transfers , to offering a complete turnkey solution encompassing formula development , compounding , filling , and final packaging . With our extensive formula library and relevant product attributes , we have also experienced success by providing white stock options , known as ‘ brand and go ’, for customers requiring speed to market with best-in-class products ,” he enlightens .
With such an extensive product portfolio , OraLabs not only focuses on delivering quality products but also places the utmost importance on ensuring sustainability in its operations . Gary highlights the company ’ s commitment to embracing eco-friendly practices . “ Within the next five-to-ten years , we aim to make significant investments
in Environmental , Social , and Governance ( ESG ) initiatives . ESG is an increasingly crucial factor for business growth and collaboration with prominent companies as they need their suppliers to comply with sustainability practices . Thus , while our motivation to become a greener company stems from our own values , it is also essential for us to remain a trusted supplier to major brands and retailers .”
As our conversation nears its conclusion , Gary sheds light on his aspirations for the business in five years ’ time . “ Overall , we aim to double OraLabs ’ current business in two ways . By continuing to supply multiple categories of new and existing products in every major retailer in the US . And through our contract manufacturing program , where we presently serve four of the top ten consumer products companies in the world , collaborating closely with them to develop new products . Hence , we expect these retailer and brand owner collaborative arrangements to continue to grow in the future ,” he ends . ■
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