She grew up on the movie screen, with an acting career that has spanned nearly 40 years. Now actress Drew Barrymore is taking on a brand new partâ€” the role of an entrepreneur.
â€œI will never quit acting, itâ€™s my first love and my first family in so many ways,â€ Barrymore, founder of Flower Beauty cosmetics tells FOXBusiness.com.
But now, â€œThe Wedding Singerâ€ actress is shifting her focus toward building her brand along with her four businesses; Flower Beauty, Flower Eyewear, Flower Flims, and Barrymore Wines.
â€œI will always feed the meter and check back in every once in a while, but doing these companies gives me a chance to have the kind of life that is more conducive to be with my children and my family,â€ she says.
Family is important to Barrymore. Thatâ€™s one of the reasons she has teamed up with her father-in-law, Arie Kopelman and her brother-in-law Harry Kargman at this yearâ€™s Advertising Week to talk about how to successfully build a brand in a mobile centric world. Kopelman is the co-chairman of the iconic brand Chanel, while Kargman is the CEO of Kargo, a mobile ad company.
â€œSheâ€™s so passionate about her companies. I see herself pouring herself into the products,â€ Kargman tells FOXBusiness.com.
Kargman created Kargo more than 13 years ago, but he has seen the most dramatic uptick in business in just the past few years.
â€œI think mobile has become the dominant screen in peopleâ€™s lives and itâ€™s just the question of shifting time and dollars over to that screen,â€ he says. â€œJust look at Drewâ€™s following on Instagram. Itâ€™s crazy how she can talk to 5 million people every day when she puts a photo out into the world.â€
Barrymore says that although she values her brother-in-lawâ€™s advice when it comes to how she runs her companies, advertising is one area that she operates completely on her own. She chooses to advertises solely through her Instagram account.
â€œI really try to do, just like in my businesses, to keep it personal and very heartfelt from the core of who I am and not to use it as just a business channel because people start to smell that immediately,â€ she says.
And, itâ€™s working too. Flower Beauty, which is currently only sold at Walmart (NYSE:WMT), is in its fifth, and most successful year yet.
â€œWhen I was co-creative director at P&G (NYSE:PG) for Cover Girl, it was such a different business model. We would be in every page of every magazine so when I started this company, we were forced to think differently. I thought since we just donâ€™t have those kind of ad dollars, letâ€™s put it into the formulas, letâ€™s focus on social media,â€ she says.
Kopelman, 78, who helped turned Chanel into the legendary brand is it today, says social media is a huge part of todayâ€™s marketing mix, regardless of the brand type or the price point.
â€œEven very high end companies like Mercedes-Benz have come down with various price categories without impacting qualitative feeling or status that company overall has,â€ Kopelman says.
Barrymore, who has finalized her divorce with Arie Kopelmanâ€™s son, Will, says that even though the advertising game has changed drastically, she will always look to her father-in-law for advice.
â€œHe makes me think about things in ways that are more traditional and he also asks you to look at it from a different perspective.â€