Range Beauty, featured on Shark Tank Season 13, stands out as a makeup brand devoted to concealing skin imperfections like acne and eczema. Founded by Alicia Scott, it tackles the challenge of catering to diverse skin tones by offering makeup specific to different facial regions, aiming for a flawless, unified glow.
Introduction to Range Beauty: Delivering Inclusive, Affordable Clean Beauty
Hailing from Atlanta, Georgia, Range Beauty emerged in 2017 with a mission to provide clean beauty for forgotten shades at affordable prices. Specifically designed to mask scars associated with conditions like acne, the products cater to an 18-year-old demographic, targeting different facial zones with specific combinations to create a harmonious complexion.
The headquarters, situated in the Greater Atlanta Area, ensures the products are suitable for every skin tone. Founder Alicia Scott proudly emphasizes the absence of toxic ingredients in the brand’s makeup, making it particularly effective for darker skin tones.
Alicia Scott: The Visionary Behind Range Beauty
Alicia Scott, the CEO and Founder of Range Beauty, entered the beauty industry after realizing the scarcity of products addressing diverse skin tones. Her background in the fashion industry, complemented by a Bachelor of Science from Virginia Tech, equipped her with the drive and knowledge to disrupt the makeup sector. Previous roles in marketing and diversity analytics further enriched her experience and understanding of consumer needs.
Journey Prior to Shark Tank Appearance
Range Beauty commenced with a mere $300 investment, powered by Alicia’s dedication to solve the issue of inadequate makeup shades. Leveraging internet resources, the initial products were developed in collaboration with a trusted women-owned manufacturing company, catering specifically to sensitive skin. Marketing strategies included influencer collaborations and support from friends and family, enabling the brand to reach the target audience.
Pitch competitions and smart investments, including a $200,000 infusion, bolstered the company’s growth, generating revenue from $300 to $300,000 in just three years.
Availability and Purchase of Range Beauty Products
Range Beauty’s products, priced between $14 to $21, are exclusively available on their official website. The brand expands its offerings beyond cosmetics, featuring items like mugs, bags, and apparel.
Shark Tank Experience and Post-Show Performance
Alicia sought $150,000 for a 6% equity stake during the Shark Tank appearance. Despite the sharks’ initial reservations, a deal was struck with Lori Greiner and Emma Grede, who invested $150,000 for a 20% share in the company.
Following the Shark Tank exposure, Range Beauty experienced a surge in sales due to national television exposure, greatly impacting their product performance and brand recognition.
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What Is The Net Worth Of Range Beauty?
Despite the absence of exact revenue figures post the Shark Tank episode, Range Beauty’s estimated net worth stands at $1 million. The company achieved an estimated $300,000 in sales in 2020, navigating amidst stiff competition within the cosmetic industry. The founder leveraged social media to gather insights and implement strategies to enhance the brand’s promotion and user satisfaction.
Present Status and Future Outlook
Range Beauty continues to flourish post-Shark Tank, maintaining a robust business trajectory with no significant setbacks. Post-show sales success aided their expansion and customer base growth while consistently tackling competition through effective marketing strategies.
As of August 2023, Range Beauty remains operational and thriving, continually surpassing competitors while building a loyal customer base. The brand’s perseverance, successful marketing endeavors, and commitment to inclusive clean beauty products have sustained its relevance and success in the dynamic cosmetic industry.
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