NASA astronauts are expected to film the items in the microgravity environment of the ISS and the company will be able to use that footage in ad campaigns or other promotional material.

The details of those plans were first reported by New Scientist magazine.

If the footage is used in a commercial, it would not be the first advertisement filmed in space; nor will it be the first time NASA has worked with corporate advertisers.

At that same panel, de la Faverie spoke about Estée Lauder's plans to help NASA and CASIS, the organization that manages the US laboratory on the space station, fund research aimed at developing more sustainable packaging materials.

"We're dedicating a modest amount of crew time — just 5% — to commercial and marketing activities because a robust commercial space economy will support national interests and our Congressional direction to transition 'to a regime where NASA is one of many customers of a low-Earth orbit commercial human space flight enterprise,'" Phil McAlister, director of commercial spaceflight development at NASA headquarters, said in an emailed statement to CNN Business.

In short, the goal is to help foot the bill for companies interested in space-based activities, hoping that will spur broader interest in extraterrestrial business activity and help NASA offset costs.

NASA has since signed a variety of Space Act agreements with various companies, including athletic wear brand Adidas.

The space agency has already outsourced the transportation of cargo to and from the ISS and, more recently, SpaceX became the first-ever company to take over transportation of NASA astronauts.

The space agency, however, also has to weigh its efforts to spur private investments with its goal to conduct as much scientific research as possible while the 20-year-old space station is still in orbit.