Purposeful Periods: Molly Hayward of Cora

Molly: I tend to kind of come in with the big picture, the big vision making sure everybody's excited onboard and sort of rooted in the in the meaning. In India I can tell you it's one in four girls or women lack complete access to menstrual care. We've also looked within communities where historically women and girls were using things like hash from their fire pits, pieces of old newspaper pieces of old mattress, cow dung, things like that. Eva: Welcome to the Beyond Capital Podcast. In our purpose driven world, leadership is increasingly crucial. Now more than ever, shareholders are demanding the integration of social values and causes in everything, from shoes to soap to investments. We're bringing you the stories of leaders that are marrying profit with purpose. I'm Eva Yazhari, CEO of Beyond Capital. Ed: And I'm Ed Stevens, CEO of Preciate. Eva: And this is the Beyond Capitol Podcast. Ed: Today's guest is Molly Hayward. Molly is the founder and Chief Brand Officer of Cora, a company that sells organic feminine hygiene products, including tampons, pads and more. Cora also provides menstrual products to women and underserved communities in the U.S. and abroad. Molly is the founder and Editor-in-Chief of Blood and Milk, a community covering a wide range of women's health issues. Eva: Welcome, Molly. We're glad to have you. Molly: Thank you, it's my pleasure. Eva: So let's dive in. You studied international development and public health in college. And, um, we always like to hear from the leaders that we interview about their story and what brought them to found their company. So tell us, what was your journey to founding Cora? Molly: Yeah, Well, um, it feels like it's been a really long journey, and I'll try to give you a concise aversion as I tend. But it's interesting that you bring up my college experience because I even traced my interest in social impact and, uh, and sort of doing good in the world back to when I was a kid. So, you know, there's that saying, look at what you were doing when you were 10 years old and you'll know what we should be doing for the rest of your life. And 10 years old, I was getting my classmates to sign petitions, um, around environmental issues. I was collecting milk money for UNICEF, and it gave me a great sense of joy and purpose to just be, uh, be working to help other people. And so fast forward. Um, I studied, uh, like you said international economic development, women's rights, human rights in college. And that gave me an amazing sort of world view and experience in that realm. Again, I'm just thinking of of the ways that we could from engender greater world equality, I would say. You know, fast forward from there going into my career, I really have spent my entire career in early stage companies. And what I was so inspired by, really in my first job out of college was being part of an early stage, high growth startup that had a social impact model built into it it's business, uh, so as it scaled, its impact is going to scale. And I just thought, this is brilliant, having seen kind of the way that NGOs and nonprofits work and function and all the good that they could do and yet all of the inherent issues they face your challenges they faced at scale, I thought, wow, business is engaged in helping to solve our greatest world problems. They would probably be a lot fewer of those problems, and so you know, really, that led me years later to starting Cora. And you know, Cora really started in Kenya. I was there traveling with a nonprofit organization, just as a volunteer unwork related. And I met a girl in one of the communities that this nonprofit work again, and I have gotten to know her. She was part of a program focused on getting more girls into into school. And she was one of the first girls in her family to go to school. And I was sitting with her one day and she told me that during her period she would stay home from school and that that was what she and all of the other girls would indicate they would do. And so immediately the entrepreneurial light bulb went on. And I thought, I'm going to create a business that helped to solve this problem, to bring awareness to the issue, but also that uses its dollars to invest into, um, providing the solution around this time of the month for these girls, so that it's not an inhibitor to them getting a full education, pursuing, you know, their dreams and their futures. Ed: So I was seeing that you do this work in India and Kenya now, is that right? Molly: Yeah, that's right. We have partners in both places. Ed: And so how big is the scale of this problem worldwide? Can you put a number on it? Molly: It's pretty massive. So the estimates are that 100 million girls across the world lack basic access to adequate menstrual health and hygiene. Yeah, that's a that's a big number in my mind. Ed: And how many of those are in India in Kenya? So, like, how how far have you gotten into this so far. Molly: Yeah. So, uh, in India, I can tell you it's one and four girls or women lack complete access to menstrual care. So, uh, and in Kenya, it's roughly the same. And so, you know, Cora has, uh, existed for about the last four years, and we've been working with both of our partners from just about that same time. And at this stage, we've reached almost 100,000 girls with the programs that we helped to fund, and we've given close to $10 million pads. So, you know, in any way we feel like we're just getting started, but, you know, it's a it's a start. Eva: How does that part of the business work? Is it it's it a buy one give one model? Or is it something different? Molly: Yeah, so we have kind of two ways in which the model works based on our channel. So Cora has a G2C channel, where you can get a period care or body care, maternal health care subscriptions, but we also sell in traditional retail, so Target, Base Way, other brick and mortar retailers. As well as on Amazon. And so, if you buy through Cora's, uh, website through subscription it's a one for one model. For every month supply of product you purchased were providing a month's supply of have plus health education to a girl in India and on the retail on e commerce Amazon side it's 10% of our net profits goes to purchasing pads and funding the health education initiative. So a little bit different based on channel. But I'm really kind of the same, the same output essentially. Eva: I would love to get your perspective because this also seems to be a a problem or challenge in the U.S. as well. Nearly 25 million women live below the poverty line, and menstrual products are not covered by food stamps. And I think 38 states tax tampons and other feminine hygiene products as non-essentials. Have you looked at that issue? Molly: Absolutely. And, you know, it's really interesting, you know, that is one that we have heard more and more from our community, saying, hey, I think it's amazing what you're doing in India and Kenya. But there are girls and women here in my community that also can't afford or can't access, no healthy, quality menstrual products or can't afford them at all. And so, you know, over the last four years, we have, um, basically done done large domestic giving, kind of ad hoc. It's been centered primarily around is actually, so Hurricane Harvey, the wildfires in California last year. Um and, uh, and yet, you know, we have realized that this is more of an intrinsic problem. And so this year, actually, one of my primary initiatives is launching our domestic giving initiatives officially because to your point, you know, it's a massive problem here is well, and, um, you know, while we started out at our roots are are in Kenya and India and other places around the world where that need is quite dire. Um, you know, we've really gotten to place, thankfully, where we have the scale of me ability. To give meaning to leave here as well. And, you know, we're pretty excited to do that Eva: Before we talk about healthy menstrual products. I wanna dig into that. I wanted to just take a step back and ask you why one in every four girls in India and East Africa, and in India, in Kenya as well as you know, potentially similar figures in the U.S. are lacking access. What is the root of that problem? Molly: So there are a number of issues that come into play. In developing countries it has, uh, quite a bit to do with the nature of the products that have historically been available. So when you think about the feminine care industry, you know, up until very recently it was dominated by a few multinational corporations, and so the products that were coming into those countries were imported goods. So, um, like, quite heavily taxed, quite expensive. And so you think about the sort of base of the pyramid population in those places problems like that are just largely unattainable from an economic perspective. Um, here, here in the U.S. you know, I would say it's similar. One example like give, um is with Native American communities where or even even simply rural communities where they may only have access to a single gas station or grocery store to buy their menstrual products. And those products are being sold at such inflated price because the demand is so low. And so you have this sort of inequality being perpetuated by for circumstance. Um, geographically here in the U.S. um, and again, as you mentioned, the products are also not covered by food stamps. So as a family, when you were deciding whether to pay your electric bill or purchase groceries or whether to buy pads and tampons, you know the decision is often pretty obvious. So women and girls are left really to enter themselves and come up with alternative solutions to you know what we would consider kind of an acceptable or even just a basic level of I care. Eva: Yeah, thank you. I'm an investor in a company called Kasha, which is a women's health distribution business in Kenya and Rwanda, and one of the things that struck me and going into rural areas in Rwanda was that women who were giving birth had to share a pack of menstrual menstrual pads but pads for their postpartum care. Um, and they couldn't afford that pack on their own, which, you know, it's something that we take for granted when walking into CVS sometimes. So let's let's pivot the conversation a little bit. All your products are organic, non-toxic and non GMO. Um, and the plastic applicators are made of recycled materials. What does it mean for a tampon to be organic? Molly: Traditionally, tampons have been made with a mix of conventional cotton and synthetics. Like rayon and polyester. I could go into the sort of history of the tampon, history of the culture. Um, but in short, because of the stigma and taboo that has existed around this experience for women know most of us maybe prior to five or six years ago, we're not discussing our menstrual care choices with our friends. There was not media coverage of, you know, mental care products or under things happening from the culture around menstruation the way there have been in the last five years, and there was also no sort of innovation. There were no new businesses coming in and sort of disrupting the space. And so really, you know, making a product with a synthetic like rayon or polyester, um, unconventional cotton is a lot cheaper, um, and yet, uh, when you sort of back into studies around those ingredients and certainly sort of the way that financial cotton is made and produced, Um, it's It's somewhat troubling, sort of what the indicators are that exposure to those materials exposures to the chemicals used to produce conventional cotton is potentially harmful to, you know, human health, certainly to environmental health. And so to make an organic tampon needs to use 100% certified organic cotton and that that is the only thing that you are using in that product. So, um, because that product is being interpreted, the body is being, um, used against extremely porous and sensitive, um, type of skin, and therefore it's quite susceptible to take it in anything that comes up against it. It's really important in our minds and has always been really important that those products be as pure as possible. So you know, that's what it means to be an organic tampon. Ed: So it seems to me like when you're looking at a population in a country like Kenya or India, that the the women would want a product like this. Is that true? Do they know that they should have it? And they just can't afford it or can't get it? Or is it too expensive or is actually, it doesn't actually get into awareness? Molly: You're talking about tampons specifically? Ed: Any kind of feminine hygiene product, I guess. Molly: Okay. Yeah. Yes. So, um, you know, typically, uh, typically, there is an awareness. I mean, certainly it has evolved over time. But today with, you know, most communities there is an awareness that, um, that that things like pads and tampons exist where traditionally, you know, maybe, you know, for example, for women in India. The primary way of managing menstruation is with a cloth that washed over and over again, um, in Kenya, it can be a cloth. But, you know, we've also looked within communities where historically women and girls were using things like hash from their fire pits. Pieces of old newspaper, a piece of old mattress, cow dung, things like that. And so once there is an awareness of, um, product that essentially more hygienic, more sanitary, poses fewer health risks and not mentioned it is more effective in actually helping us manage our periods. You know, there is a design there is an awareness. And interestingly, we've even seen that evolving beyond pads and, um, and tampons into things like menstrual cups, which are even sort of on the still still very early in their kind of adoption in places like U.S. So yeah, I would say there's definitely an awareness and in many cases, a desire for these newer and more effective alternatives. But you know, it often just comes down to economic will geographic access. Eva: Yeah and access I mean, we see that as well. Um, in fact, I think the only edition I would I would make to your point, Molly, is that the emerging markets in general are very attuned to large consumer brands still, so you know Johnson and Johnson their consumers are after often looking for those products and so... Molly: Very much. Eva: Yeah, deviating can be hard, but and that's really what's in there kind of local shops. Molly, tell us in abstract what a menstrual cup is for those that don't know and what the benefits are. Molly: Yeah, yeah, menstrual cup, um, is essentially just what it sounds like, but it's through, uh, a cup or a chalice shaped silicone, um, vessel that is inserted into the vagina and basically it collects your menstrual blood, and you're able to pull it out, dumped the blood and wash it and reuse it. And it's reasonable for up to 10 years. And so it's, you know, for most women it would completely eliminate the need for single use need for tampons, pads liners, etcetera. Eva: Thank you. Define some things as we as we have our conversation. So let's talk about the environment. Ed:I was wondering. Eva: Yeah, I mean it's not something you can envision just from hearing it. Molly: Yes, yes. Eva: So, moving to the environment, most of these products are single use, and they traditionally have contained plastic components. How does Cora think about its environmental footprint? Molly: So definitely first and foremost, the two things that you mentioned. So number one, you know, removing as much because we can from the conventional experience. So we've done that of course with our tampons, we've reengineered our pads, you know, versus kind of what I would say are our traditional competitors pads to use a fraction of the amount, uh, material. And so we're sort of decreasing waste that way. And then I would also say, uh, the our decision to utilize organic cotton over conventional cotton. You know, of course, the impact is sort of building and building and building as we scale and, as we're sort of, sourcing more cotton for our products but we look at the amount of pesticides and herbicides that we have avoided applying to the environment as a result of our use of organic cotton and ever since maybe the last piece that I think is most exciting to me personally is our sort of efforts as a brand. To promote more sustainable options like period underwear like menstrual cups and begin to help women imagine their period, uh, beyond sort of the disposable options. But most of us have historically used and have probably used since we were 13, 14, 15 years old, getting our first period. Um, really I think what we're looking at is, you know, 10 years down the line, can the majority of women actually be using these reusable and certainly more sustainable options and can be really begin to significantly reduce the number of single use products center that are in the market and being being demanded, I think. Ed: So how's the business doing is you know, is there a way you can describe to us your growth or just your trajectory? Molly: Yeah, sure. So we launched the business in 2016. I mean, it was me and my co founder, and today we're 25 people. We've had triple digit growth every year to hundreds of 400% each year, Um and, um, we've raised over $30 million in venture capital. So hopefully that gives you an idea of kind of where we've been and scale, but, um, yeah, it's it's certainly been a really, um a really wild journey. And even though the growth has been somewhat exponential, I would say the journey has definitely been nonlinear. Ed: Yeah. Molly: And, uh, you know, we've we've I think, had to think about and look at the ways that our business could evolve. We launched a G2C company, it is the only company and but very quickly went into traditional retail. And, you know, anyone who's ever sold a physical product kind of knows how awkward and complex things suddenly become, um And so, you know, we've you know, I'm happy to say we've we've grown and been able to continue to scale, you know, in spite of a lot of those challenges. And I think, you know, there's something that's really exciting now about being our, um, our presence expanding at brick and mortar retail because that's still where the vast majority of women want to shop and are looking for these products specifically. And, um, you know we're we're in all of Target's stores today in a number of other retailers, but from in 2020 certainly you'll be seeing Cora in a lot more places than ever before. For me that comes back to our impact scaling. You know, that's not It's still sort of my reason for getting out of bed in the morning every day. And, um so you know, I would say as well an interesting note on that is, but social art, social impact initiative is the number two value proposition or purchase driver that our customer assigns, second only to the fact that our products are are natural, organic and healthy for her, so there's kind of that, like selfish per purchase driver. But the second, the 2nd one is you know about about giving and about this other person is going to benefit. Um, and we were told early on that by an investor who was one of the first employees at Toms Shoes, sat on their boards for a long time through their exit debate and and she said, You know, be prepared for your social mission to start a matter a lot left to customers and we have seen the opposite. Eva: You talked about the the taboo in the stigma around women's health. And, I know that you have created a community called Blood and Milk, covering a wide range of women's health issues. Um, can you can you tell us more about Blood and Milk and how it's trying to combat that that bad stigma? Molly: Yeah, so I was actually, I was at the first women's march. So that would have been January 2017. Um, and you know, the Cora was about a year old and things were really starting to take off. And I was driving up 95 after the march and I was thinking to myself. God, you know, we are literally out here on the street protesting for our rights, protesting policy, protesting certain perspectives on women's lives, women's health. And yet how well do we really know ourselves? How intimate are we with the experience of life in a female body? For most of us, the last time we had any sort of formal education or deep insight, not even deep insight but formal education on our bodies and their changes, um, was, you know, high school and the primary message there was don't get pregnant and don't get an STD. And yet, when you think of the opposite of profound changes that a woman will go through physically in her lifetime, particularly if she chooses to have children, it's immense. And what, you know, what I realized was for most of us, when we, you know, have a health concern or something's happening or we're going through an experience like having a child, you know, and we have a questions. There's so many unknown, so many things that aren't talked about still, you know, our primary resources are, um, going onto Google, uh, phoning a friend or a sister, um, and you know, heading to your doctor. And, you know, I found that there was just no singular online resource that really focused on that experience of life in a female body and all of these different phases everything from menstruation, to sex and intimacy to perimenopause, uh, birth, post birth recovery. And I wanted to just create a really frank honest, you know, in some ways, like our content has been called no taboo or sort of provocative and cutting edge. But really, it's like just answering questions that, you know, maybe we've been afraid to ask, but that are pressing in our minds. And so, you know, because of of Cora, you know, there was a little bit of resource to say, hey, let's test it out. This idea let's create a sort of, uh, no MVP site. We'll put one head count against it in a little bit of budget for content. And let's just start creating these articles and seeing what the responses, Um, and it's just been overwhelmingly positive. You know, that platform zero outside investment and has continued to grow, and more importantly, I think it has really become, um, just a trusted resource that feels very candid and approachable and, um, and real to women as we're going through these very real experiences. And it's just become a really nice compliment to, I think Cora's mission around, you know, creating healthier products. Eva: Incredible. I'm gonna share an anecdote. I have a friend who is lobbying the U.K. government to have, uh, just pads in every single bathroom available for free. And when I do told my husband the first time this concept, he said, that's a bit much. And I looked at him and I said, if you went to the bathroom and you didn't have toilet paper, how would you feel? And he said, ooh. And I think the point there is if when you just start reframing, or opening up that coversation. Ed: How long was he in the doghouse for? Eva: Oh no as a matter, it was was split second, a split second. But I think when you start opening up the conversation, ah, that you're right. You kind of destigmatize some of some of these concerns and questions. Molly... Molly: Absolutely. Eva: We also want to get to know you a little bit. Can you tell us what your morning routine looks like? Ed: How do you get yourself ready to go? Molly: Uh, you know, it's funny. It's different every day. I am so not a routine kind of person. I feel like my mornings are really organic, and I kind of had to learn that the hard way, right? Like, I really for a long time, you know, person in business, person running a company. You have to, you know, be up at the crack of dawn. Do this, do that exercise, etcetera, etcetera. Be at the office by 7:30 So I do that for a long time and found that I was miserable. Um, some people thrive on that. I like to mix it up. I like to do all of those, you know, morning things, but I sort of, like to pepper them out throughout my day. So, um, it's interesting. Through the week, I have really started to prioritize sleep. Um, I read a fascinating book that sort of scared the daylights out of me about not getting enough sleep, so that's become a real priority. So I've really been making sure I get eight hours of sleep. So I wake up,um, usually I try to meditate, sometimes 5 minutes sometimes it's 30 minutes, um, I do a little bit of breathwork is part of that. I'm a breathwork facilitator, and I find that really, kind of, centers and ground me. Normally, coffee has been the only consist consistent element of my morning routine. But in an effort to try to decrease my, uh, caffeine consumption I've been I'm switching to a sort of mushroom coffee. Ed: What! Traitor. Molly: I know. I know. To be fair, I still have, like, a very small latte. I, um I can't I love coffee. I don't think I've never given up completely, but, um, but yeah, you know, I take the dog out, I hop in the car and, uh and I head to the city. I live up in the mountains above San Francisco, and so, you know, on the rare morning that I really feel like I can stretch things out, I'll go for a hike with my dog. But, um but yeah, I kind of you're my thing quickly in the morning and hit the road. Ed: Well, us caffeine drinkers of the world wants you back. Eva: Yes, the both of us here... Ed: We're very inclusive... Molly: You know, that really softening as well. Ed: Well, I was going to say, what is your leadership style? So, you know, you've got this company, just had this idea. I don't know if you thought you would turn into this big growing concern. So, like, how do you how do you approach your yourself as a leader and your team? How would you describe your your style? Molly: Yeah, gosh. Talk about another journey. Um, you know, maybe, obviously I'm, you know, a very independent and entrepreneurial person. And so, you know, my working style is very much decide what you want to do and then just go do it. Um, and I've tended to officially early on, I would say kind of assume that everybody wants to and can operate that way. And so, you know, I would say that my leadership style has evolved. In the early days I was very sort of, um, hands off. I looked for people who shared that, sort of, fiercely independent style on, and those people that I sort of brought onto the team or prioritized bringing onto the team. But, um, I would say it's it's really evolved where I feel like, um, I've had the kind of, you know, make my own way and certainly made it up as I've gone in a lot of ways. But, uh, no, I think where, um, you know, my team would say I sit now is in a place of trying to really provide a much inspiration to the team is possible. I, you know, I touch a lot of the social impact work on the day to day more than the rest of the team. And so I think I tend to kind of come in with the big picture, the big vision, making sure everybody's excited and onboard and, sort of, rooted in the in the meaning. And then I, you know, I've kind of evolved to feel like as a leader my job is just to remove obstacles. And so I try to allow, you know, my team members to really have a ton of autonomy and say, you know, in what they're going to be doing in order to, you know, to fill the larger vision we've all agreed upon and then and then really be the advocate and be the person who provides resources or, you know, remove blockages to, you know, to their success. Ed: you know, caffeine removes obstacles too. Just saying. Molly: Don't tempted me, Ed! I'm teetering on the edge.

Eva: I noticed on your Instagram and in your website that you have more products than you would expect from a women's health company. So you know, more than just pads and tampons, you have PMS products and different wipes and things like that related to heat and even probably menopause. Um, I would love to for you to just tell us where the company's going on. And you know where we should envision Cora in five years. Molly: Yeah. So when we started, you know, four or five years ago, we launched with period care because, you know, certainly because of the experience by it had in Kenya and how much that caused me to reflect on the experience of women here in the U.S. and all the ways that that could be changed. And, you know, the stigma and taboo was no small part of that. I wanted to create a brand, um, that really reflected that experience in a positive light rather than the sort of, sort of, neutral to negative one that I think it has historically been in. But, you know, really from from that place of period care, we've really just taken the approach of, you know, what the next need that we can address or solve for her. What's the next team points that exists in her experience of life that a female body that we can address? So you know, Certainly that means offering a wider range of products within a particular category, like period care. But then, you know it looks bad. Okay, but what are you know, what is the surrounding experience, you know, whether you're talking about period symptoms or PMS like is there something we can create that would make her life better in that regard and do it in a way that healthier and more sustainable and then going beyond that one experience. What's the next thing she's gonna experience, whether it's pregnancy or postpartum recovery? Body care? Uh, you know, And you know, the list goes on and on and on, and, you know, I think what we've realized is, you know, gosh, it's not, there's not the sort of boundary line around where we started in period care that that sort of contains us. There's a need to disrupt the entire sort of women's wellness category. And when I say the truck, I you know, I mean that in terms of infusing, the, you know, the sort of modern values that that we hold and our customers and community embody and that they want to see in the products that that their purchasing at these moments in time in their lives. So, you know, I think in in five years in ten years, you know, I see Cora really embodying a full spectrum of of women's wellness. Uh, you know, in every direction of her life and hopefully again offering the new alternative, hopefully won't feel like an alternative at that point. But offering this sort of new standard in women's wellness that, that is healthier. Better for the body, you know, and better for the world. Eva: That's really exciting. Thank you so much for joining us today. Molly: Thank you so much for having me. It's been an amazing conversation. Ed: Yes, I enjoyed it very much. Thanks, Molly. Eva: Take care. Bye. Molly: Bye. Eva: Once again, it's clear that a business leader with good intentions can create an impressive social, environmental and ethical impact. There is always a way to put meaning behind the mission of a company, and we can all make a difference. Ed: You've taken the first step by listening to the Beyond Capital Podcast. Thanks for joining us. Don't forget to rate and review. And if you haven't yet, subscribe on your favorite Podcast platform. For more information, go to beyondcapitalpodcast.com. You can follow me on Twitter at @EAStevens. Eva: and follow me on Instagram at @ConsciousInvestor. Until next time.

Ed: Bye, everyone.