Range Beauty Secures $150K On ‘Shark Tank’

Black-owned beauty brand Range Beauty secured the bag on “Shark Tank,” ABC’s reality tv show for entrepreneurs. Founder Alicia Scott and her cousin Myisha Scott secured a $150K investment after pitching the clean beauty brand designed to help women of color with eczema and acne-prone skin heal and clear their skin.

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Alicia Scott shared that she was inspired to create the brand after experiencing a bout of cystic acne and eczema. Dubbed as “clean beauty for the forgotten shades,” Range Beauty’s offerings include foundations, bronzers, and powders formulated with botanicals to prevent irritating or inflaming skin.

The brand’s hero product, Intentions Hydrating Foundation is infused with calendula flower to help with itchiness and irritation, french clay to remove impurities, and vitamin E for glowing skin. Since its founding in 2018, the brand grew from $30K to more than $325K in sales (as of last fall) after a co-sign from Beyonce’s Black Market and landing on Target shelves.

Scott initially asked sharks for a $150K investment in exchange for 6% equity.

Emma Grede, who is the show’s first Black woman guest shark, teamed with Lorie Greiner, to offer Scott $150K for 20% equity. Grede also shared that she and Greiner could help get the brand on big-box shelves — and keep them there.

Grede is a renowned businesswoman and investor who runs Khloe Kardashian’s Good American clothing company and helped start Kim Kardashian’s Skim shapewear brand. She is also a board member for the 15 Percent Pledge.

Alicia initially countered the offer for either a lower equity stake or higher investment but was ultimately sold on the idea of getting access to two sharks.