CEO Connect: Liz Folce on building a $100M beauty brand

Liz Folce, founder and CEO of Nakery Beauty, spoke with Tampa Bay Business & Wealth as part of its CEO Connect series, presented with support from FlyUSA, PNC Private Bank, Better Together, The ANNIKA driven by Gainbridge and hosted at J.C. Newman Cigar Co. in Ybor City.

Q: You’ve worked in the beauty industry most of your career. What did you see missing in the market?

A: Women over 50 were being ignored. They were being told certain products weren’t for them and that the industry was focused on a younger customer. At some point, it became clear that no one was really listening to women in that stage of life.

Q: What pushed you to actually start the company?

A: I took the idea to larger companies and they laughed. They said it wasn’t a big enough demographic. After hearing that a few times, I realized the worst thing that could happen is I’d have to start over. So I quit my job, used my savings and built it myself.

Q: You’ve said everything starts with the customer. What does that look like in practice?

A: I get on the phone and ask one question: what is one thing this brand must be? Then I listen. Women tell you exactly what they’re dealing with, whether it’s pain, skin changes or things the industry doesn’t talk about. I write everything down and build from there.

Q: How central are those conversations to how you run the business today?

A: They guide everything. We built the brand with women across the country and even internationally. We asked them what they wanted, how products should perform and even what the brand should be called. That same process still drives product development.

Q: Where did the name Nakery come from?

A: Women told me they didn’t like looking at themselves in the mirror as they got older. They would turn off the lights or avoid certain clothes. The idea was, what if we could help them feel confident again. The original idea was “naked,” but that name was taken, so we built Nakery from that concept.

Q: Your first product addressed a problem most brands ignored. Why start there?

A: Because it was real. Women kept talking about it. If you solve a real problem and the product works, they come back. That’s how you build a business.

Q: Nakery has grown across direct-to-consumer, Amazon and television. Why was TV so important early on?

A: It already had our customer. Women over 50 are watching and buying from TV. It also forces performance. You don’t get a second chance. The product has to work.

Q: What kind of volume are you moving during those TV appearances?

A: In a 24-hour period, we’ll do between $2.2 million and $2.5 million in sales. We do that about nine times a year.

Q: What’s the pressure like carrying a full day on HSN or QVC?

A: The “Today’s Special” carries the network for the day. It’s not just about my numbers. There’s pressure to help the network hit its goals, but I try not to think about it that way or it would affect how I perform.

Q: You’ve invested heavily in clinical testing and FDA-reviewed products. Why take that route?

A: Because customers asked for it. They want proof. That process takes time and money, but it builds trust. When something works and improves someone’s life, that’s what matters.

Q: How do you think about social media in the business today?

A: You should think of it as its own retailer, especially TikTok. It’s not just marketing. It’s where you learn from your customer in real time and sell directly to them.

Q: How do you handle skepticism or competitors trying to replicate what you’ve built?

A: Early on, people told me not to start the company and said I wouldn’t succeed. You have to block that out. Now I see some of those same people at trade shows, and it’s a very different conversation.

Q: How do you and your husband divide responsibilities in the business?

A: I focus on product development, focus groups and brand. He handles finance and operations. The business wouldn’t be where it is without that split.

Q: How do you decide where to distribute the brand?

A: You have to stay true to your customer. Our customer shops at Ulta. That’s where we focus. Even if other retailers are interested, you have to know who you’re building for.

Q: What challenges come with expanding internationally?

A: You have to adjust. In Europe, for example, we couldn’t even call one product a pain cream, so we had to change packaging and positioning. But demand is strong because customers see the brand on social media.

Q: How do you think about growth from here?

A: We stay disciplined. Every product has to earn its place. We’re a small team, so we focus on what works and what customers actually use every day.

Q: What have you learned about the customer most brands overlook?

A: She has money and she has real needs. She’s been ignored for a long time. If you listen and deliver, she’s very loyal.

Q: What advice would you give someone starting a business today?

A: Don’t let anyone tell you you can’t do it. You’ll hear that a lot. If you believe in it, you can build it.

Photos Courtesy: Tacy Briggs Troncoso