Ready Set Jet Overview
What are you working on? Can you give us a brief overview of your company?
I believe confident women can change the world.
Ready Set Jet is a global lifestyle and beauty brand dedicated to empowering women worldwide.
Whether it's on the plane, in the board room, or at home, we want women everywhere to live their most powerful lives by helping them recognize their potential and giving them the tools to thrive. Our products save time, space and money with their interchangeable technology and vegan powered double duty beauty. We are a mission driven brand. Part of our proceeds go to skilling and vocationally training disenfranchised girls to help break the cycle of poverty.
What about you? Tell us a little bit about yourself and what inspired you to start this journey :)
I'm a 3x serial entrepreneur and the best selling author of Passport To Beauty. I started my career as a celebrity makeup artist on The Tonight Show which got me on TV talking about beauty. No one was talking about multi-cultural beauty (and the fact that the US is the greatest melting pot in the world) and global beauty secrets. Once I started focusing on these, it carved out a unique voice for me in a very saturated industry. I was offered a publishing deal shortly thereafter and wrote my best selling book Passport To Beauty. That launched my career as a beauty entrepreneur creating best selling products and brands for myself and the likes of Paramount Pictures, Turner Classic Movies and influencers/celebs.
While I was doing that, I also saw the incredible lack of mentorship for women, by women. And as a female founder it was important to create a community for women to safely tap into resources. I launched Power Beauty Living to do just that and within a year the United Nations asked me to launch globally at the UN.
In late 2017 I received the Mahatma Gandhi Award at the British House Of Lords for my work in women empowerment and beauty. Shortly thereafter, government officials from India came calling and asked me to bring impact to the girls in India. I realized the best way to do that was to use beauty for a higher purpose.
That's when I knew it was time to create a new brand, Ready Set Jet, that we could scale globally while also scaling impact by skilling and vocationally training disenfranchised girls in beauty with the goal of breaking the cycle of poverty.
What's your background? What is the unfair advantage that will make you succeed in this industry?
I'm an award winning serial entrepreneur in beauty with over 15 years in the industry. My deep knowledge of product formulation and strong distribution and supplier relationships partnered with a veteran rockstar team give us incredible unfair advantages. Alongside this, we have an omni-directional approach to beauty with an online academy for women to gain confidence and professional development and secured distribution.
The Business Model
What is your business model, and who are your customers?
We are a D2C brand with an omni-directional approach through strategic retail partnerships, an online academy (aggregate to create buyers and sellers as well as data for crowdsourcing product) and impact driven community.
Did you already find a product-market fit? How do you acquire and retain your customers?
We have seen great success with our beta launch during the pandemic. We pivoted from a travel friendly brand to a beauty simplified approach. Given the Work From Home and Zoom environment, we attracted a 30 year plus demo with an AOV of $85. Though trends in color cosmetics are down, our color products lead as our best sellers to a demo that spans from Gen Z (customizable functionality) all the way to Boomers (simplistic beauty). Our customer retention is through experientials, newness and including our customers in the growth story of the brand. Allowing them to participate in the Crowdfunding has resulted in a 242% increase in D2C Sales.
How big is your operating market? Could you provide some independent research/insights?
The global beauty market is $532B
We have a cross border play with the US - 161M beauty buyers and multi-cultural women being the largest and most underserved segment. In the US we are seeing a trend towards the "skincare diet" with 90% of women opting for makeup that includes skincare which is another game changing advantage we have given all of our products have vegan skincare built in.
As we scale to India, we're looking at 350M online shoppers by 2025 and an exploding beauty market set to hit $28.9B by 2026
What's your competitive advantage, and how are you going to build a sustainable economic moat?
We have high performing vegan powered products that are first to market in customizable interchangeable innovation. We also work on margins of 93% which allow us flexibility in price sensitive markets and added marketing. Additionally we have our online academy as an aggregate to create more buyers and sellers alongside an engaged community.
Who is on your team? Is there a fun story behind it? If so, We'd love to hear more!
I have an amazing team. Some of them have been with me since 2005! All rockstar veterans who have worked in beauty with some of the top brands and taken them to exit and some who have worked in ed-tech and community build with brands like Beats by Dre, Airbnb SE Asia, Sephora, Macys, Nordstrom, Ulta, Duty Free.
Where do you see you 5-10 years from now? What's your exit strategy?
The M&A market in beauty is on fire. Our goal is to build a high value company that caters to the global consumer and exploding Indian market while also creating significant impact for women. We would are aiming for a strong acquisition offer when the time is right.
What do you believe is the biggest risk for the company?
With any start up there is always risk. We've successfully launched during and navigated a global pandemic, creating new offerings based on the new needs of the consumer. We have 2 strong teams in both the US and India to execute and build this company. Being seasoned entrepreneurs and industry veterans we have been able to quickly assess risk and pivot accordingly.
Did I Invest In Ready Set Jet?
I’m still in the process of writing a full deal report and decide whether or not I will invest in Ready Set Jet. I review 100+ startups on 10+ platforms every month and send a detailed report every Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!