Adrienne and Stephanie Vendetti “Rock it Like Redheads” when they pitch How to be a Redhead, their cosmetics designed specifically for redheads, in Shark Tank episode 1512. The sisters are both graduates of the University of Miami’s Herbert Business School and this company is the only “job” they ever had. The inspiration for the business came from their issues they had finding products that complimented their red hair.
In 2011, they started their website to offer advice to red heads about beauty products. That morphed into creating their own line. The sisters use social media like pros to build a community and they stage “Rock it like a Redhead” events. They gained worldwide traction in 2016 with the publication of their book, titled How to be a Redhead.
The sisters offer a wide range of beauty products and even have a quarterly subscription box with seasonally themed products. Their pricing is in line with other premium make-up brands. They also sell redhead themed tee shirts and sweatshirts. The company has sales of about $7 million a year, so it’s unclear what they want from a Shark.
Company Information
Video
Posts about How to be a Redhead on Shark Tank Blog
How to be a Redhead Shark Tank Recap
Adrienne and Stephanie come in and introduce themselves as sisters and redheads. They say they’re fierce and they embrace the qualities of their vibrant, flowing locks. It hasn’t always been easy. Aside from hearing all the annoying “ginger” jokes growing up, there was no place to turn for beauty advice because no one was targeting redheads. Redheads hve been kicked to the curb, left behind and they don’t get any love. That’s why they created How to be a Redhead.
It’s a beauty brand created for redheads by redheads. They offer eyebrow and mascara products in red hot shades to complement their fair lashes and brows. Their glossy shampoo helps to strengthen and hydrate their unique hair. This is just the beginning; they’re building an entire line of beauty, hair and skin care products. They also are creating a community for redhead advice to empower redheads and instill confidence. They’re a one stop shop for all your redhead needs. Red is more than a color, it’s a lifestyle. That’s why they’re seeking $350,000 in exchange for 10% of their company. They ask the Sharks “which one of you is ready to rock it like a red head?”
Q&A
The Sharks have some of the products in front of them. They also have redhead wigs which the Sharks put on. Mark says his brothers are redheads, so he grew up hearing this stuff. Mark says Kevin looks like a 70’s rocker. Kevin asks if it’s true that in the Middle Ages redheads were thought of as witches; they were. Redheads have been dealing with bullying for centuries. Lori asks about the shades and Adrienne says there isn’t a redhead section in Ulta or Sephora.
2% of the world’s population has red hair – about 157 million people. That doesn’t take into account people who dye their hair red. They had a customer ask them after she dyed her hair red how to change her coloring. All redheads in all shades can wear their make up; it’s a shade they wished they had growing up. Stephanie dyed her hair blond for 7 years because she felt she had nowhere to turn to. Large brands skip redhead shades – Kevin says it’s because it’s only 2%.
The Numbers
This year (2023) they’re projecting $1.1 million in sales. In 2022 they made $833,000 and they’re projecting $2.4 million for 2024. They are profitable – they’ll have $250,000 in gross profits in 2023. All their profits are going back into the business and they don’t have any debt. They’ve been doing this for 12 years and lifetime sales are $4.4 million. They made more than $2 million in the last 2 years. When they started, there was nowhere to go for redhead beauty advice, so they traveled the country doing “Rock it like a Redhead” events. They wrote a book and went on tour and started a box business that sold “redhead approved” products.
All sales are direct to consumer. The mascara costs $4 landed and sells for $26 and they have a 55% reorder volume. The average order is $55 and customer acquisition cost is $26. Lifetime customer value is $300. Mark asks about products for men and Adrienne says her husband (also a redhead) uses the shampoo. Kevin wants to know how he gets his money back and they tell him they want to get big enough to partner with a global company.
Who’s In?
Lori loves the name and that they turned being teased into profits. She thinks there are things they need to enhance – they should make their logo bigger. It’s not the right investment for Lori though; she’s out. Robert says they’re super fun, but it’s not for him; he’s out. Barbara thinks they’re wonderful entrepreneurs, but they don’t need a Shark; she’s out. Kevin offers $350,000 with a royalty of $2.50 per order until he gets his money back, then it drops to $1 in perpetuity for 10% equity. Mark asks how they buiild their community so every redhead knows they have to be a part of it. They have many ways to do that: every day they push out new content. They’ve had a podcast for 5 years that averages 10,000 downloads.
Mark tells them everythibng should be about “how to be a redhead” and everything they do should be about community. He wants them to be a lifestyole brand first. Mark offers $350,000 for 15% and they immediately accept.
How to be a Redhead Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. As of the first re-run of this episode in June, 2024 – about 4 months after the original air date – there is no hard evidence the deal with Mark has closed. Mark did Tweet this however:
How to be a Redhead®
@HowToBeARedhead Replying to @pmpknkt3 @ultabeauty
and 2 others
…working towards it for 2025 with new branding
@Sephora @Target @ultabeauty @mcuban
The sisters told University of Miami they “intend to use the investment to expand their audiences, embracing redheads of all genders. Their dream is to see their line represented at major beauty stores like Sephora and Ulta.” Mark often takes a few months to update the Shark Tank investments on his website, so we’ll check back in soon.
The Shark Tank Blog will follow-up on How to be a Redhead & Adrienne and Stephanie Vendetti as more details become available.
