Need suggestion on using multiple istio ingress gateways

we have multiple teams using same k8 cluster, right now we follow this process to expose an application, lets say product A team wants to expose their service:

  1. create new k8 service of LoadBalancer type in namespace “product_A”
  2. deploy envoy pod in “product_A” (helm install stable/envoy)
  3. create gateway, virtualservice and destinationrule

is this correct approach? product teams don’t want to use the default ingress gateway that is installed by istio.