David Chung

David Chung is the Founder and CEO of iLABS (Innovation Labs) Inc., a global innovation-focused beauty company established in February 2019. Chung's vision for iLABS arose from his desire to address gaps in the rapidly evolving beauty market, emphasizing research and development (R&D) as core components of the business model.13 Under his leadership, iLABS has developed a reputation for creating innovative beauty products, leveraging a network of chemists and scientists across the U.S., Japan, South Korea, and China.13

Background and Experience

Chung has an extensive background in the beauty industry, having founded several successful companies prior to iLABS. His notable ventures include:

• Farmacy Beauty: A clean beauty brand launched in 2015 that gained significant traction and was sold to Procter & Gamble in 2021.
• Englewood Lab: A manufacturing company he operated from 2004 to 2018.
• 3LAB Inc.: Another beauty brand he led from 2003 to 2016.
• Cosmetic World and MONA's: Retail ventures that contributed to his deep understanding of the beauty market.235

Chung's entrepreneurial journey reflects a commitment to innovation and quality, positioning iLABS not merely as a contract manufacturer but as a research-driven entity focused on developing superior products.34

iLABS Overview

iLABS operates a 140,000 sq. ft. facility in Mahwah, New Jersey, where it develops award-winning formulas across various beauty categories. The company is certified by multiple regulatory bodies, including the FDA, which underscores its commitment to quality and compliance in product development.13 Chung emphasizes that iLABS aims to provide clients with comprehensive solutions that encompass not only manufacturing but also packaging and ingredient technology.35

Recent Developments

In January 2024, Chung expanded his portfolio by acquiring a majority stake in Amare Global, a wellness company that focuses on mental health and ingestible products. This move aligns with his broader vision of integrating wellness into his beauty ventures.5 Additionally, he has plans to enhance iLABS' capabilities further, aiming for substantial revenue growth in the coming years.35

Chung's approach combines a passion for innovation with a strategic focus on building strong relationships within the industry. He prioritizes product efficacy and consumer satisfaction over immediate profits, distinguishing iLABS from competitors who may prioritize short-term financial gains.34