A one-time kindergarten teacher, Diane Ranger left education to open a beauty boutique that eventually led to the creation of the Bare Escentuals mineral makeup line in 1977. Financial issues led to the company being purchased by a private investor in 1990, but Ranger regrouped and started over. Today, she is the founder and president of Colorescience, a California-based mineral makeup company with a special niche in sun protection products.
What inspired you to open a beauty store?
I was working in Texas and went to lunch at a local restaurant. On the table there was an advertisement for a beauty store upstairs, so I went up to check it out. I fell in love with the place. It had loofahs and sea sponges and lotions and soaps. It was just like going to Disneyland for me. I asked the owner if she would help me if I opened a store like hers in California. She said 'yes.'
How did you get started?
I moved to California and set up a shop called Bare Escentuals in Los Gatos, one of the most beautiful places in the world. It's at the foothills of the Santa Cruz Mountains. There were only a handful of body care stores at that time. There was no Body Shop or Bath and Body Works yet. I just wanted to become the best and started studying. I studied the history of cosmetics and I took business classes. I read everything I could get my hands on.
The store started doing pretty well - but it took work. I worked at night as a waitress early on. I used my retirement savings from my teaching job and took out a small business loan. I qualified as a minority-owned business because women were considered minorities then. Eventually, I operated four stores in California and had two franchised stores - one in Ocean City, N.J. and one in Palo Alto, CA. We also had several wholesale accounts, including Marshall Field's and I. Magnin.
What did you sell?
I carried both my own products and some other brands, including Caswell-Massey and Kiehl's.
What led to the creation of Bare Escentuals mineral makeup?
I imported kohl from Egypt and studied it. It was used as eyeliner and to soothe the eyes from the burning sun, by reflecting light off the desert. It was my "aha" moment. I looked up every source about every mineral cosmetic I could find. I started mixing colors myself. I came to learn that minerals were waterproof and also had natural sun protection. Egyptian Eyes was our first eye shadow product. That was in 1976. The full line, with about 16 items, was launched in 1977.
JH Partners, a private equity firm, purchased Bare Escentuals in 1990, what did you next?
It was a real fork in the road. I took two weeks to figure out if I should go home (to Texas) and learn to teach again. But instead I started a new company called Body Chemistry and helped develop mineral makeup lines for other brands. Some of the brands I worked on included: Elements, La Bella Donna and Jane Ardell, as well as some private labels.
And then you moved back to Texas?
After a few years, I married a Texas businessman and in 1996 moved back to Texas. In 2000, with help from my husband, I launched Colorescience. We focus on the medical side of the industry and sell to dermatologists, spas and high-end resorts with estheticians. Colorescience is now based in Dana Point, CA, with a manufacturing plant in Houston.
You've recently partnered with a venture capital firm...
Last August we got financing from VMG Equity. They are closely involved in the business and they understand our vision. They are now the majority owner, but we possess a large percentage.
Tell us about your sunscreen business...
I created a powder sunscreen - Colorescience Sunforgettable. You brush it on. (Most sunscreens are an emulsion - in a cream or oil or water base). It provides instant SPF protection and blocks UVA and UVB rays. It could be a business in itself. We are now coming out with a sunscreen product in a puff ball that you can puff all over your body. It comes in sparkle and matte versions.
How do you spend your days now?
Because of our sunscreens, we support sun protection efforts. In May, I traveled and promoted Melanoma Awareness Month on local television shows and at in-store events. I am also working on a book about mineral makeup that we expect to be out sometime next year.
What's next for Colorescience?
We recently expanded the plant by about 25 percent. That was on top of doubling the square footage last year. It is now a little over 15,000 sq. ft. And we are expecting the business to continue to grow.
Any advice for others?
It is not what you do when you win, but what you do when you lose. My life today is fabulous. I got a second chance and a second turnaround. Everything that happens makes me appreciate every minute and every day.