These entrepreneurs made $10 million in a wacky way. By targeting rich customers … who like to shop in dollar stores! Hear the inspiration behind E.L.F. Cosmetics.
What they do:
Make and market a line of value priced quality cosmetics (for Eyes, Lips and Face) sold in Dollar Stores.
When Scott-Vincent Borda and Joey Shamah learned that high income consumers shopped at dollar stores, they went to work on a new product line, tapping Borda’s beauty industry background.
About the business:
The founders claim their $1 cosmetics offer the benefits, look and ingredients of higher priced products. Sales: $10 Million+.