Range Beauty Shark Tank Update – Shark Tank Season 13
Alicia Scott and Myisha Fantroy’s Range Beauty, Inclusive Cosmetics for Sensitive Skin, appeared on Shark Tank Season 13. They secured a deal with Lori & Emma.
Alicia Scott and her cousin Myisha Fantroy pitch Range Beauty, their “inclusive” cosmetics line, in Shark Tank Season 13 Episode 14.
Scott created the products in 2017 under the name Skinny Dip Cosmetics. She wanted products that reflected her skin tone and weren’t harmful to her skin. Eczema and acne are problems many black women have, and over-the-counter cosmetic brands contain many harsh chemicals. Her goal was to change that.
She arrived at a formula with a cosmetics maker. The cosmetics are all natural and contain French clay, cornflower, chamomile, vitamin E and argon oil. With just $300, she launched and saw about $1000 in sales.
Check out other Shark Tank Season 13 Episodes.
About Range Beauty
| Category | Details |
|---|---|
| Business Name | Range Beauty |
| Founders | Alicia Scott, Myisha Fantroy |
| Industry | Cosmetics |
| Product | Inclusive, all-natural cosmetics for sensitive skin |
| Deal Status | Deal secured with Lori Greiner and Emma Grede |
| Investment Asked | $150,000 for 6% equity |
| Deal Outcome | $150,000 for 20% equity |
| Valuation | $2.5 million (at the time of Shark Tank pitch) |
When a big Twitter influencer re-tweeted a tweet she wrote about her product, sales blew up.
The retweet said of her products, “This is what you call Range.” This led Scott to rebrand as Range Beauty in 2018. Sales in 2018 were just $30,000, in 2019 they were $45,000, and in 2020 they were $300,000. That’s when she quit her job and went full-time.
Even though she originally created the brand to reflect hues for women of color, the sensitive skin angle really made her products stand out. Other cosmetics makers began offering similar hues, but Range Beauty products work well for women with acne and eczema.
Once she focused her messaging on that, sales took off. She completely bootstrapped the business with the help of $50,000 in grants and a $200,000 “win” in a pitch competition. The products are available on the company website and at Target. She likely wants a Shark’s help getting further retail distribution.
Range Beauty Shark Tank Pitch
Alicia and Myisha enter the Shark Tank seeking $150,000 for 6% equity in their company. They talk about why they founded the company and the quality of their products. They have 21 “underrepresented shade.”
The Sharks examine their samples and tell each Shark what products they have. Alicia tells the Sharks how she came to start the business. Myisha explains that she is the product manager.
What makes Range different is that they treat eczema and acne. Sales for 2018 were $20,ooo, 2019 was $45,000, and in 2020 Alicia went full-time and sales were $330,000. They made sure their eCommerce was in place by offering low-cost sample kits.
80% of people who bought the sample kits purchased again. They are in Target and they’re selling out. Target sales were good. The price for their foundation is $21 and costs $4.25 landed; it wholesales for $10.50. Their products are in the “mastige” price range: between low-end and high-end cosmetics.
Did Range Beauty Get a Deal on Shark Tank?
Mark says he’ll clear the deck and go out. Emma asks if they also have shades for light-skinned people—they do. Barbara says she likes to make a difference in the businesses she invests in, but she doesn’t see the fit—she’s out. Kevin says he’s usually hard on cosmetics companies because they don’t have any differentiation. Even though Range Beauty does, Kevin wishes them well and goes out.
Lori and Emma team up to offer $150,000 for 20%. Alicia counters with $150,000 for 10%, and they decline. Emma says they need help getting into retail, and she and Lori can help. Retail is a constant grind. Alicia counters with $200,000 for 20%, and they decline again. Finally, Alicia accepts.
Range Beauty Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. On Show night, the company saw a lot of sales. They sold over 1000 True Intentions Hydrating Foundation Sample Kits alone!
The first rerun of this episode was in July 2022, just four and a half months after the original air date. It appears the deal with Lori and Emma closed. Also, at this time, they are in negotiations to get $1.5 million in venture funding.
As of November 2023, the company has products on Target’s website and has done pop-up shops at several Nordstrom stores. The brand seeks to enter more retail locations in the next five years. At this time, annual revenue is around $3 million. The estimated net worth of Range Beauty is $3 million.
The Shark Tank Blog will follow up on Range Beauty & Alicia Scott, and Myisha Fantroy as more details become available.
Posts about Range Beauty on Shark Tank Blog
Alicia Scott – Range Beauty Founder
Where Can You Buy It?
Range Beauty products can be purchased on its official website. For more updates, check its social media pages, Facebook and Instagram.
Quick Summary
- Alicia Scott and Myisha Fantroy pitched Range Beauty on Shark Tank, seeking $150,000 for 6% equity.
- Range Beauty focuses on inclusive cosmetics for women of color with sensitive skin conditions like eczema and acne.
- Lori Greiner and Emma Grede invested $150,000 for 20% equity.
Curious to know about other businesses that appeared on Shark Tank Season 13 Episode 14? Check out their business updates!
