Range Beauty Is First Black Woman-Owned Makeup Brand to Ink Shark Tank Deal
info@hypebae.com (HYPEBAE) Mon, 14 Mar 2022 HYPEBAE
In an episode of Shark Tank that aired on February 25, Range Beauty became the first Black woman-owned makeup brand to score a deal on the ABC show.
Founder Alicia Scott launched the brand in 2018 because of how difficult it was to find the right shade and undertone for her skin. After experiencing the lack of shade ranges and thoughtless ingredients that inflamed her eczema and acne, Scott decided to create a solution that would not compromise her skin's color, care or condition. Taking into consideration a range of skin tones and types, Range Beauty is an inclusive makeup line that nourishes acne-prone or sensitive skin.
Scott and her cousin Myisha Fantroy stepped into the Tank seeking an investment of $150,000 USD in exchange for a 6% stake in their brand. The cousins were looking for a Shark's help with marketing and expanding their brand's reach. They immediately captured Lori Greiner and guest Shark Emma Grede's attention with their impressive pitch.
In 2021, Range Beauty received a $200,000 USD investment from Fearless Fund. The brand is currently in series A fundraising to secure $1.5 million USD. You can find Range Beauty products in Target and directly on the brand's website.
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