Is BeautyStat successful? Can you share some numbers?
‘We formed the product part of the company in 2018, because BeautyStat was a blog. In 2019 we turned on a website, six months later there was a pandemic. Consumers were at home, they started focusing on their skin, on their health. Furthermore, Ron is of African American descent. We had a lot of civil unrest around George Floyd (the African-American man who was killed by a police officer, ed.) and the retail companies wanted to support minority-led companies. We already had some pretty good press about Ron, but then the retailers started bringing us in. Suddenly the tide turned, and we've been just pushing on that momentum ever since. We did a little bit of business in 2019, multiplied it times five in 2020, kept building at it in 2021, and we're now on a pretty good trajectory. Because of my international experience I started dipping my toes into the UK.’
Are your products available in stores or just online?
‘Both. We've formed great relationships with Nordstrom, Neiman Marcus, Saks, Blue Mercury, some of the larger retailers. The big one we've been chasing for a couple years was Ulta Beauty. It’s one of the largest retailers in the United States with about 1,300 stores. They gave us the opportunity to do a 250-store test in March of this year. Literally within weeks, they said: Guys, time for the next step, we're gonna take you to all 1,300 stores. That's the next big step for us. It's a significant jump in business. We will easily break to around 10 million in sales. Considering we didn't exist as a brand three years ago, it's pretty good.’
What are the main drivers for that success?
‘The product is good. We did spend some money on sampling. We've gotten into a couple of the subscription boxes, such as IPSY and FabFitFun in the United States. And we did do some aggressive Facebook marketing. We had to do anything to get peoples to try it. Because once they tried it, we knew that they liked it. This delivered results. We backed the product up with safety testing and a consumer study. Ron had built about 30,000 people in a database of beauty enthusiasts. Those could range from makeup artists, estheticians, some derms, some influencers, maybe even a few celebrities. We operate our product development team just like those guys who are in billion-dollar companies but we're doing it in a startup. We have qualitative and quantitative evidence. Before we put something out on a shelf, we already know we have a winner. And we price the product pretty reasonably for what you get.’