TikTok is the perfect platform for savvy marketers to grab attention. One company that has cracked the viral marketing code is Youthforia, a sustainable cosmetics brand that is revolutionizing the way we think about makeup. Founder Fiona Co Chan pitched her brand on Shark Tank and landed a deal with Mark Cuban. Youthforia is valued at $5 million by 2024.
About the Founder
Fiona Co Chan is an Asian beauty entrepreneur in Miami, Florida. Despite her passion for makeup, she originally studied economics at Dartmouth College.
After earning her bachelor’s degree, she began selling advanced software for data centers. Her job required her to stay in cities with severe air pollution and to wear an N95 mask while sleeping.
Like many women, she often slept with her makeup on, which was harmful to her skin, so she decided to change the way she applied makeup.
Founding Youthforia
Ms Chan started her beauty business during the pandemic. During quarantine in Hong Kong, she came up with the idea of attending beauty school before launching her startup.
The entrepreneur learned that traditional cosmetics are made from large amounts of fossil fuels and are harmful to the skin, so she wanted to create skincare products that could serve as an extension of skincare.
Chen slept in lab samples she created, trying to see how her skin reacted to each one. In 2021, she created BYO Blush, which is known for its ability to change the skin tone of the user.
Appeared on Shark Tank
A big part of Fiona’s marketing strategy was using TikTok to promote her brand. In her first year, she attracted 40 million views and over 2 million likes on the platform.
This made her company one of the most popular beauty brands on TikTok. Youthforia was featured in prestigious magazines such as Vogue Business, and the startup became profitable in less than a year.
The ambitious entrepreneur was invited by the producers of Shark Tank to apply for the show. But she didn’t expect the application process to be so rigorous and to stay in touch with the producers for six months! She entered Shark Tank with a net worth of $8 million, which was slightly high despite having made $2 million in sales since April last year.
After Shark Tank
Youthforia’s show aired in March 2023 and the brand has seen a massive increase in sales. Youthforia has now served over 70,000 customers, a number that will easily exceed 100,000 soon. Since appearing on Shark Tank, they have made $8 million in sales! Currently, the company is making $15,000 per day.
The deal with Cuban is done, and Fiona revealed to beautymatter.com that Cuban has been very supportive and a pleasure to work with. Despite this, Youthforia is not mentioned on his website. In April 2023, Fiona also completed a seed financing round with True Beauty Ventures and Willow Growth Partners.
Fiona plans to expand her product line, starting with eye makeup and foundation. Her products are available in over 600 stores, including BeautyBay, Revolve, Credo Beauty, Ulta, and Youthforia.com. Depending on where you live, it can take 5-14 days to receive your order.
BYO Blush is their best-selling product, with 366 reviews on their site and an average rating of 4.9. They also offer a special Shark Tank set for $98. Youthforia is now valued at approximately $5 million.
Categories: Shark Tank
Source: svlsf.edu.vn