Range Beauty bags $150K deal on 'Shark Tank', fans say 'Black women come through'

Lori and Emma recognized the huge potential that the Range Beauty products had and decided to team up together and make an offer on 'Shark Tank'


                            Range Beauty bags $150K deal on 'Shark Tank', fans say 'Black women come through'
Myisha and Alicia Scott from Range Beauty, with Emma Grede and Lori Greiner on 'Shark Tank' (ABC)
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After struggling to find a perfectly matching foundation for their melanin-rich and sensitive skin, cousin sisters Myisha and Alicia Scott decided to start their own beauty brand called Range Beauty' as an inclusive and safer alternative makeup brand for people struggling with finding a good base makeup product for their skin. After receiving a lot of positive feedback including being featured on Beyonce Knowles' website and enjoying good sales numbers, the sisters decided to try their luck on 'Shark Tank'.

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Alicia and Myisha stepped into the Tank seeking an investment of $150,000 in exchange for a 6% stake in their brand. The sisters 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 and well-researched pitch. Their pitch was so thorough that even Kevin O'Leary aka Mr Wonderful who takes great pride in ripping apart skincare and makeup brands on the show couldn't find anything to pick on. Despite their amazing pitch, Barbara Corcoran, Mark Cuban, and Kevin decided to sit out on the deal as they couldn't see how they could add any value to the business.

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Myisha and Alicia Scott from Range Beauty on 'Shark Tank' (ABC)

 

On the other hand, Lori and Emma recognized the huge potential that the product had and decided to team up together and make an offer. So the sharks jointly made an offer of $150,000 but for a stake of 20% instead. Lori and Emma felt that it was a pretty reasonable and good offer since they were getting two Sharks' expertise. Alicia and Myisha were flattered by the offer but felt that the 20% stake was way too high and tried negotiating it to 10% instead. Both Lori and Emma instantly rejected it and pointed out how they could really blow up the brand and make it big with their connections. 

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Alicia and Myisha tried their luck one last time and checked if the Sharks could increase the investment amount to $200,000 for the 20% stake they were asking. Once again Lori and Emma declined. Finally, Alicia and Myisha decided to accept the offer and left the tank feeling pleased that they were getting Emma and Lori's expertise to help them. Fans were pleased with the outcome as well and congratulated the brand's founders for bagging the impressive deal. A fan tweeted, "Congratulations, @RangeBeauty, on getting the deal with both @LoriGreiner and @EmmaGrede!!!!!!! @ABCSharkTank #SharkTank." "I hope @RangeBeautyโ€™s sales explode! We are cheering for you! Congratulations on the deal! #SharkTank," wrote a fan. "Range Beauty will be a hit here and outside the country as well #SharkTank," commented a fan.

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Emma Grede on 'Shark Tank' (ABC)

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Many fans also expressed interest in Range Beauty's products. A fan shared, "Black Women come through. You have these Sharks shook with your makeup knowledge & statistics. You Go Divas! #SharkTank." "Cheering for the beautiful black young ladies on @ABCSharkTank. Iโ€™m about to place an order. I LOVE #makeup and I am intentional about supporting Black businesses. @RangeBeauty #bhfyp #SharkTank," added a fan. "Yayyyyyyy @RangeBeauty !!!! I have the old 2018 packaging and the new new! Been a fan! Congratulations ladies!!!" expressed a fan.

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'Shark Tank' Season 13 airs on Fridays at 8/7c on ABC.

Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.

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