Eating into a growing percentage of these giants’ market share is Madison Reed, a four-year-old, 85-person, San Francisco-based maker of affordable “prestige” hair products.
These include 45 shades of permanent hair color, 8 shades of hair “gloss,” 6 shades of liquid-based root touch-up (for in between coloring sessions), and 6 shades of powder for root touch-ups.
Now Madison Reed is working on what could become its biggest product of all: a chain of real-world “color bars” that it expects will accelerate its business further.
Today, we phoned CEO and founder Amy Errett in Hawaii, where she’s attending the high-wattage, low-flying Lobby conference.
If you care about consumer packaged goods more generally, keep reading.
TC: You’ve quietly closed on $25 million that brings your funding to $70 million.