Okay kiddo, imagine you really like ice cream but you don't know how to make it. So, you go to a store and buy ice cream that's made by someone else, but they let you put your own label on it so it looks like you made it. That's called a white-label product.
It's kind of like cheating because people might think you made the ice cream, but really someone else did. But it can also be helpful because it's easier for you to sell something that already exists instead of making it yourself.
Lots of companies use white-label products, like grocery stores that sell their own brand of food but don't actually make it themselves. It's a way for them to sell something that people want, without having to do all the work.