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LifestyleTranscript
00:00So, first up, we have Isfahan Chambers-Harris and the business she owns called Alodia.
00:09Isfahan, take it away.
00:12Hello, everyone.
00:14My name is Dr. Isfahan Chambers-Harris, and my company is Alodia.
00:18So, Alodia's story begins back with my personal journey.
00:22Like millions of women around the world, I struggled with damage-breaking hair and even
00:27a more damaged scalp from years of using chemical straighteners.
00:31I was desperate for a solution.
00:33So, what I decided to do was to utilize my science and chemistry background as a PhD-level
00:38scientist to create a full line of high-quality products made with natural ingredients.
00:44It took me about three years to create the full line, and in March of 2017 is when we officially
00:49launched.
00:50During those three years of R&D, I spoke with hundreds of women about the problems that
00:56they were having with their hair routines, and the trend that emerged was that nine out
01:00of ten of the women that I spoke with were plagued with chronic scalp conditions, such
01:05as eczema, dermatitis, and traction alopecia, and the only option for them was to visit a
01:11dermatologist, most of who are inadequately trained to address the concerns of textured
01:16hair.
01:16They spend hundreds of dollars in out-of-pocket fees, only to receive prescribed medications
01:21that are actually harsh and toxic.
01:23On the flip side, they can walk into a big box retailer, pick up a bottle of anti-dandruff
01:29shampoo, but these shampoos are not formulated for textured hair types, and they often cause
01:34dryness and irritation to the scalp.
01:36So, my customer base is desperate for an economical solution that's also organic and natural.
01:43And the trend that I saw in the farmer's markets of Washington, D.C. is not an isolated
01:48trend.
01:48Studies have shown that 85% to 95% of textured hair types experience scalp flaking, irritation,
01:55and stunted growth, and dermatitis has a notable prevalence in Black women, so much so that
02:01it's considered normal, and they suffer in silence.
02:04So, I realized that there was this huge gap in the market and a need for products that
02:09are centered around scalp health in the textured hair care space.
02:13And this is exactly what Elodia brings to the market.
02:17Our major differentiators is that we are expertly created by myself, a PhD scientist and hair
02:23trichologist, and I utilize my expertise to create scientifically proven products with natural
02:30ingredients to relieve chronic scalp conditions and nourish textured hair.
02:34And this is exactly what I mean.
02:36So, I'm showing some of the product range here, and our products are designed to nourish and
02:41moisturize the hair strands and also help with hair styling.
02:45But in addition to that, each and every product is infused with ingredients that are antimicrobial
02:51in nature.
02:51So, they are able to inhibit the microbes that are causing the chronic scalp condition, as
02:56well as stimulate the follicle for hair growth with regards to traction alopecia.
03:01In addition to these products, we also have our best-selling herbal infusion line.
03:07And hopefully, you can see in the camera, but we actually infused this product with herbs.
03:12So, this product is our best-selling Soothe Herbal Infusion, and it's infused with Egyptian
03:17chamomile flowers and organic calendula flowers.
03:21These flowers have medicinal properties that help to limit or relieve the irritation and inflammation
03:26of the scalp.
03:27So, Alodia actually embodies Aveeno's mission of leveraging the power of nature and skin
03:34to improve skin health with regards to scalp health.
03:38So, because we have been able to tackle this huge problem in the textured hair care space,
03:43we have been able to establish a loyal customer base and community.
03:48In 2020 alone, we had revenues of 520,000, and we average about 20,000 visitors a month with
03:56a conversion rate of 3.13%, and our average order value is $58.
04:01So, we're able to touch our customer in various ways through our digital campaigns, as well as
04:07our traditional campaigns.
04:09With our digital campaigns, we utilize a robust ad strategy, as well as the various social media
04:15outlets.
04:16We partner with influencers for brand ambassador partnerships, as well as email marketing and
04:21retargeting.
04:22Traditional, we use trade shows and events.
04:25So, we have various different touch points to reach our customer base.
04:29And I hope that you feel my enthusiasm and excitement because the future is so very bright
04:34for Alodia.
04:35Next month, we are launching on Amazon.
04:38We are starting talks with Target to get into their retail stores.
04:42And in Q3 of this year, we'll be the only clinically proven brand in the textured hair care space
04:48to address chronic scalp issues.
04:50And we're projecting revenues for this year of $1.2 million.
04:54So, if I had the opportunity to win this amazing grant opportunity, it would go towards our target
05:01launch in their retail stores, as well as launching three additional innovative scalp products in
05:07our scalp product pipeline.
05:09And then, finally, it would go to filing a patent for our clinically proven system.
05:14Thank you so much for this opportunity.
05:17And I'll take any questions.
05:19Thank you so much, Ms. Fahan, for telling us about this wonderful product you've designed.
05:25I'm going to now go to some of my judges.
05:27And I'm going to start with Hanan.
05:28What questions do you have?
05:30Thanks, Caroline.
05:31Thanks for sharing your story with us, Ms. Fahan.
05:34I think Elodia and the background and the story you bring shows the passion you have for the
05:39space and the products.
05:41And I love the thoughtfulness of the name Elodia.
05:44I know it's a Nubian kingdom.
05:46And there's a really nice storytelling aspect to that.
05:49Really a delightful consumer journey you've built.
05:53I have a question more on the product perspective.
05:58So, you know, what do you think is your key differentiator in the space against competition?
06:03And what are your hero products?
06:06That's an excellent question.
06:07So I think our major differentiators, and the market has shown us this, is the fact that
06:13we use our expertise to create products that actually alleviate and relieve the chronic
06:19scalp conditions.
06:20When you look at the various products in the marketplace, they more so help with hairstyling
06:27and also using natural ingredients for moisturization and strengthening.
06:32We do that.
06:33But in addition to that, we are also infusing our products using natural ingredients to
06:39inhibit the microbes that actually cause chronic scalp conditions.
06:43And the market is telling us that's what they want.
06:46Because when I look at our best-selling products, it's our scalp therapy products.
06:52So it's our infusion line.
06:54It's our deep conditioning mask that actually has ingredients that help to stimulate hair growth
07:00and women that have traction alopecia or inhibiting those microbes like malastasia, which is a
07:07yeast that an overgrowth of it causes dandruff and different dermatitis.
07:11Our products actually inhibit those types of microbes.
07:15And this is a major differentiator for us because there's no one currently doing this in the
07:20texture hair care space.
07:22Ms. Savon, I have a question for you.
07:24One of the things that's true, especially in the Black community, is misunderstandings or trauma
07:35tied to where particular treatments or experiences have not been leveraged with integrity with our
07:42community.
07:43And as you gave such an eloquent explanation of the medical science behind this product and what
07:52it does based on how our body functions, what is your plan to also do what I would call the
07:58re-education of trust and integrity with the Black community to be able to embrace the product and
08:04actually use it?
08:05I absolutely love that question because that is where Elodia, I think, is where we differentiate
08:13ourselves as well.
08:14I'm extremely passionate about educating my brothers and sisters with regards to hair care because
08:21there's a lot of myths out there.
08:23So what we have done, which has been huge for us, is last year with COVID and all of us having to
08:31social distance, I started to do virtual hair consultations where I'll schedule and we get
08:38booked up.
08:39I have an appointment scheduled for the month of March.
08:42It's booked in 24 hours, the whole month.
08:44And I'll talk with people and we'll go through the various myths that are out there, the problems
08:51that they're having with their hair types and the problems that they're having with their scalp
08:56to actually hopefully educate them.
08:58And I feel that that has gone a long way to making sure that Elodia is not just a hair
09:04care product brand, but we're also helping to educate the customer base because once they're
09:09educated, they're more enlightened and then they can be advocates for themselves.
09:14So that's what we're seeing just from those virtual consultations.
09:17We're now going on a year of having them that we're helping our customer base become more educated
09:23and more empowered to take control of their scalp and their hair.
09:27And I know that sometimes people think that hair and scalp is superficial, but it's a very
09:35interesting relationship that we have as Black women with our hair.
09:40And I think the more education that we have, the better we will be because our hair will
09:45be more healthy and our scalp as well.
09:48So Elodia is all about hair education in addition to providing quality products that are made with
09:54integrity.
09:54Thank you, Isfahan.
09:57Ariane, do you have a question?
09:59Yes, Isfahan, congratulations on everything that you were building in this space.
10:05You did a stellar job on telling your brand story and giving the traction in the marketplace,
10:10which are key things that any investor is looking for.
10:13I do have a question in regards to your long game.
10:16I believe that you built with the end in mind first.
10:18First, what is your plan for whether it's IPO or acquisition?
10:25What is your exit strategy with this business?
10:28Yeah.
10:29So I think our long game within five years, we would be looking to create a partnership
10:35with someone.
10:36You know, I've methodically built this brand along with my family.
10:42This is a family business.
10:44But ultimately, we would want to build the brand big enough so that we could be acquired
10:50by someone that can even take it worldwide.
10:52Because I have huge aspirations for Elodia.
10:55I think that we offer something that's very well needed in the marketplace.
11:00And just looking for partnerships to enable Elodia to thrive even more than what it's done
11:06in three short years.
11:07Thank you, Fahan.
11:11And we look forward to seeing what Elodia becomes.
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