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.

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