Range Beauty Company Profile

Background

Overview: Range Beauty, founded in 2018 by Alicia Scott, is a cosmetics brand headquartered in Atlanta, Georgia. The company specializes in clean beauty products tailored for individuals with sensitive skin conditions such as eczema and acne. Emphasizing inclusivity, Range Beauty offers a diverse range of shades to cater to underrepresented skin tones. The brand's mission is to provide high-performance, affordable makeup solutions that do not compromise skin health.

Key Strategic Focus

Core Objectives:

Inclusivity: Developing products that address the needs of individuals with sensitive skin across a broad spectrum of skin tones.

Clean Beauty: Formulating cosmetics with natural ingredients to minimize skin irritation and promote overall skin health.

Specialization Areas:

Sensitive Skin Solutions: Offering makeup products specifically designed for acne- and eczema-prone skin.

Shade Diversity: Providing a wide range of foundation shades to accommodate various undertones and skin colors.

Key Technologies Utilized:

Botanical Ingredients: Incorporating natural components like calendula, chamomile, green tea, and argan oil to soothe and nourish the skin.

Primary Markets Targeted:

Individuals with Sensitive Skin: Consumers seeking makeup products that are gentle and non-irritating.

Underrepresented Skin Tones: Customers looking for inclusive shade ranges that match their unique skin tones.

Financials and Funding

Funding History:

2021: Secured a $200,000 investment from Fearless Fund.

2022: Received a $150,000 investment from Lori Greiner and Emma Grede on "Shark Tank" in exchange for 20% equity.

2023: Awarded a $100,000 grant from Glossier.

Utilization of Capital:

Product Development: Expanding the product line to include new offerings.

Retail Expansion: Facilitating entry into major retailers such as Sephora.

Marketing Initiatives: Enhancing brand visibility and customer engagement through strategic marketing campaigns.

Pipeline Development

Key Products:

True Intentions Hydrating Foundation: Available in 21 shades, formulated for sensitive skin.

Smooth Out Setting Powder: Offered in four shades to complement various skin tones.

True Intentions Hydrating Primer: Designed to prepare the skin for makeup application while providing hydration.

Bali Face and Body Glow Serum: A product aimed at enhancing skin radiance.

Development Stages:

Product Expansion: Ongoing development of new products to address additional customer needs.

Target Conditions:

Sensitive Skin: Products specifically formulated to be non-irritating for individuals with eczema and acne.

Anticipated Milestones:

Retail Launches: Introduction of products in Sephora stores and other major retailers.

New Product Releases: Scheduled launches of additional makeup and skincare items.

Technological Platform and Innovation

Proprietary Technologies:

Botanical Formulations: Utilizing natural ingredients known for their soothing and anti-inflammatory properties.

Significant Scientific Methods:

Ingredient Selection: Careful curation of non-toxic, skin-friendly components to minimize the risk of irritation.

Leadership Team

Alicia Scott – Founder and CEO:

Background: Alicia Scott has a background in fashion merchandising and design, with experience in the fashion industry.

Role: Oversees the strategic direction and overall operations of Range Beauty.

Contributions: Founded the company to address the lack of inclusive and skin-friendly makeup products in the market.

Myisha Fantroy – Operations Manager:

Background: United States Army veteran with education in aesthetics.

Role: Manages product development and operational logistics.

Contributions: Plays a key role in ensuring product quality and operational efficiency.

Leadership Changes

As of the latest available information, there have been no significant changes or appointments within the company's leadership team.

Competitor Profile

Market Insights and Dynamics:

Market Size: The global beauty and personal care market is valued at approximately $511 billion as of 2021, with a growing demand for inclusive and clean beauty products.

Growth Potential: The clean beauty segment is experiencing significant growth, driven by consumer awareness and demand for non-toxic, skin-friendly products.

Industry Trends: There is an increasing emphasis on diversity and inclusion, leading to the development of products catering to a wider range of skin tones and types.

Competitor Analysis:

Fenty Beauty:

Focus Areas: Offers a wide range of inclusive makeup products with an extensive shade range.

Technologies: Utilizes innovative formulations to cater to diverse skin tones.

Notable Achievements: Achieved significant market share and brand recognition for its commitment to inclusivity.

Glossier:

Focus Areas: Provides minimalist, skin-first beauty products with a focus on natural aesthetics.

Technologies: Emphasizes user-friendly formulations and packaging.

Notable Achievements: Built a strong community-driven brand with a loyal customer base.

The Lip Bar:

Focus Areas: Offers vegan and cruelty-free makeup products with an emphasis on bold colors and inclusivity.

Technologies: Focuses on clean formulations and diverse shade offerings.

Notable Achievements: Expanded retail presence and gained recognition for challenging beauty standards.

Competitive Landscape:

Range Beauty differentiates itself by combining inclusivity with formulations specifically designed for sensitive skin, addressing a niche market segment that seeks both diversity in shade offerings and skin-friendly ingredients.

Strategic Collaborations and Partnerships

Sephora Accelerate Program: Participated in Sephora's 2023 Accelerate Brand Incubator Program, facilitating entry into Sephora's retail platform.

Target: Established a retail partnership with Target, making products available through their online platform.

Glossier Grant: Received a $100,000 grant from Glossier to support business growth and development.

Operational Insights

Strategic Considerations:

Market Position: Positioned as a leader in the intersection of clean beauty and inclusivity, catering to consumers with sensitive skin.

Competitive Advantages:

Unique Formulations: Products specifically designed to be non-irritating for sensitive skin conditions.

Diverse Shade Range: Extensive offerings that cater to underrepresented skin tones.

Affordability: Pricing that balances quality and accessibility, appealing to a broad customer base.

Strategic Opportunities and Future Directions

Strategic Roadmap:

Retail Expansion: Strengthening presence in major retailers such as Sephora and exploring additional retail partnerships.

Product Diversification: Developing new products, including skincare lines, to complement existing offerings.

Brand Awareness: Enhancing marketing efforts to increase brand visibility and customer engagement.

Opportunities for Expansion:

International Markets: Exploring opportunities to introduce products to global markets with demand for inclusive and clean beauty products.

E-commerce Growth: Leveraging online platforms to reach a wider audience and streamline direct-to-consumer sales.

Positioning for Future Objectives:

By maintaining a focus on inclusivity, clean formulations, and addressing the needs of consumers with sensitive skin, Range Beauty is well-positioned to capitalize on the growing demand for diverse and skin-friendly beauty products.