What Happened To Range Beauty After Shark Tank?

Beauty brands arguably find it harder than other companies to secure a deal on "Shark Tank." Typically, the Sharks don't invest in beauty companies because their products don't have enough differentiation to make it an overly saturated market with tons of competition. However, Range Beauty founder Alicia Scott managed to beat the odds by finding a glaring gap in the market. During a chat with Tini Lux, the entrepreneur thought back to the time she used her grandmother's Elizabeth Taylor scented lotion in her younger years and suffered a harsh allergic reaction that prompted Scott to stick only to makeup and skincare products for sensitive skin. Later, she even had eczema flare-ups and cystic acne. 

So, Scott created her inclusive beauty brand, which sought to help others with sensitive skin. "We differ from other brands by prioritizing melanin-rich skin and encouraging the discussion of how products work differently on different skin types and tones," Scott explained. "We also specifically call out acne and eczema as those are who are products are formulated for, with ingredients that target and help those associated symptoms." 

During their "Shark Tank" pitch, the founder and her cousin Myisha Fantroy admitted that, like millions of other Black women, it was difficult to find shades that matched their skin tone perfectly. As a result, inclusivity was at the core of Range Beauty, and their products were available in "21 under-represented shades." To top it all off, their range included ingredients like argan oil, Vitamin E, and calendula flower, to promote healthy skin. 

Myisha Fantroy and Alicia Scott asked the Sharks to shell out $150,000 for a 6% stake in Range Beauty. The beauty brand appeared to have enjoyed some phenomenal growth because they garnered $20,000 in sales in their first year, in 2018, followed by $45,000 the following year, and a whopping $300,000 in 2020. Naturally, the Sharks were curious about their massive growth, and fortunately Scott had all the answers. The proud founder proclaimed that their products were selling like hotcakes since they launched in Target. 

Additionally, Range Beauty received major recognition in the mainstream media and even got a shoutout on Beyoncé's website. Their product range also boasted fantastic margins since they made their foundation for $4.25 and sold it for $21. These prices impressed guest Shark Emma Grede since they were at the mid-range AKA "masstige" level. Although the Shark with the highest net worth, Mark Cuban, invested in makeup brand Youthforia around 2023, he wasn't prepared to swim with beauty brands at the time and bowed out. 

While Kevin O'Leary was impressed that Scott had carved out her own unique niche in the beauty industry, he admittedly wasn't the right fit for the brand, so he was out too. Barbara Corcoran was in the same boat since she couldn't see herself becoming a valuable asset for Range Beauty. Finally, Lori Greiner and Grede offered the entrepreneur $150,000 for a 20% stake. Although Scott negotiated phenomenally, she ultimately dove into business with the Sharks for her Black-owned beauty brand that everyone needs to try. 

Range Beauty's appearance on "Shark Tank" made history since it became the first Black woman-owned makeup brand to walk away with a deal on the hit show. Speaking to Beauty Independent, Alicia Scott shared her feelings about the monumental deal: "We walked away, and it was like in the cartoons where there are stars floating around. That's exactly how it felt." Further, the entrepreneur asserted that although her primary goal was to get an investment, she was overjoyed to learn that she had shined a spotlight on their mission, pointing out, "A 'Shark Tank' exposure is something that you can hold on to forever."

Of course, Scott would have also been enormously pleased to see that Range Beauty's True Intentions Hydrating Foundation Sample Kit received more than 1,000 orders on the night the episode aired. During Scott's Tini Lux chat, in 2023, she was delighted to confirm that their business was a part of the Sephora Accelerate Program, an initiative that set brands up for success before they launched into their stores. 

As for Range Beauty's big plans for the future: "Our top 3 goals over the next 5 years are to expand into retail, launch skincare, and become the go-to makeup brand for reactive skin." However, in a June 2024 Instagram post, the brand noted that their road to success was paved with several difficulties that caused them to take a short break. However, they also teased that they had something exciting on the horizon.