Women of color are often overlooked in the beauty space. Myisha Fantroy and Alicia Scott, founders of Range Beauty, hope to change that. Their brand is based on forgotten shades, overlooked skincare conditions, and special products to help women of color shine. How will they do during
Shark Tank Range Beauty Update
- Entrepreneur: Myisha Fantroy and Alicia Scott
- Business: Inclusive makeup and skincare products
- Ask: $150,000 for 6% equity
- Result: $150,000 for 20% equity
- Shark: Lori Greiner and Emma Grede
Range Beauty makes makeup and skincare products exclusively for forgotten skin types. Their foundation comes in 21 shades that are often overlooked by major cosmetic companies. Their skincare products are made to address issues faced by people of color.
Myisha and Alicia put their best feet (and faces) forward with their pitch to the sharks. After they introduced the products, the sharks were impressed. Their story of entrepreneurship is inspiring, and the numbers didn’t hurt either.
In 2020, Range Beauty earned $330,000 in sales — not too shabby for a completely original cosmetics company. They got into Target stores in the same year and consistently sold out. The sharks seemed happy with the numbers and their entrepreneurial spirit.
Mark Cuban left the deal first. Cosmetics wasn’t his wheelhouse, and he didn’t know how to use the products. Barbara Corcoran went out next because she didn’t see where she could make a difference in the company.
Kevin O’Leary, who is usually hard on cosmetics brands, took a graceful bow out of the deal. He wasn’t their shark, but he was impressed with what they’d done thus far.
This left Lori Greiner and guest shark Emma Grede. They decided to go in together on a deal and offered $150,000 for 20% equity. Since Myisha and Alicia were getting two sharks, the equity increase made sense.
After trying to negotiate, Myisha and Alicia ultimately accepted Lori and Emma’s deal. How is the company doing now? Find out in our Range Beauty update.
Thankfully, Range Beauty is doing extremely well! After their episode aired, they had several coupons and deals on their website to promote their
Curious about the other product updates from Season 13 Episode 14? Before you go, check them out here:
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