603: He Built a $1B Beauty Brand Selling $1 Makeup | Joey Shamah

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 6 November 2025

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Joey Shamah built e.l.f. Cosmetics into a billion-dollar beauty brand by doing the exact opposite of every competitor in the industry. In this interview, the e.l.f. co-founder breaks down how he turned a radical $1 makeup idea—laughed at by investors and retailers—into a global powerhouse that went public on the New York Stock Exchange. From bootstrapping his business out of his father’s warehouse to selling 192,000 orders overnight after a viral Bloomingdale’s rumor, Joey shares the full story behind disrupting an entire industry, mastering retail relationships, and scaling a household name without big marketing budgets or celebrity backing. What you’ll learn from this interview: • How Joey built e.l.f. Cosmetics into a billion-dollar brand from scratch • The marketing strategy that turned rejection into virality • How a fake rumor led to 192,000 orders and changed everything • Lessons from raising margins, expanding retail, and going public • Why the $1 price point was his biggest advantage • How to identify whitespace in a saturated market • What Joey learned from multiple exits and the IPO process • His framework for buying, turning around, and scaling legacy beauty brands • Why perfection kills momentum and speed drives success By the end of this interview, you’ll walk away with the playbook for disrupting established industries, scaling consumer brands from zero to IPO, and building lasting wealth through innovation, grit, and timing. SAVE 50% ON OMNISEND FOR 3 MONTHS Get 50% off your first 3 months of email and SMS marketing with Omnisend with the code FOUNDR50. Just head to ⁠⁠⁠https://your.omnisend.com/foundr⁠⁠⁠ to get started. HOW WE CAN HELP YOU SCALE YOUR BUSINESS FASTER Learn directly from 7, 8 & 9-figure founders inside Foundr+ Start your $1 trial → ⁠⁠⁠https://www.foundr.com/startdollartrial⁠⁠⁠ PREFER A CUSTOM ROADMAP AND 1-ON-1 COACHING? → Starting from scratch? Apply here → ⁠⁠⁠https://foundr.com/pages/coaching-start-application⁠⁠⁠ → Already have a store? Apply here → ⁠⁠⁠https://foundr.com/pages/coaching-growth-application⁠⁠⁠ CONNECT WITH NATHAN CHAN Instagram → ⁠⁠⁠https://www.instagram.com/nathanchan⁠⁠⁠ LinkedIn → ⁠⁠⁠https://www.linkedin.com/in/nathanhchan/⁠⁠⁠ CONNECT WITH JOEY SHAMAH Website → https://www.elfcosmetics.com LinkedIn → https://www.linkedin.com/in/josephshamah/ FOLLOW FOUNDR FOR MORE BUSINESS GROWTH STRATEGIES YouTube → ⁠⁠⁠https://bit.ly/2uyvzdt⁠⁠⁠ Website → ⁠⁠⁠https://www.foundr.com⁠⁠⁠ Instagram → ⁠⁠⁠https://www.instagram.com/foundr/⁠⁠⁠ Facebook → ⁠⁠⁠https://www.facebook.com/foundr⁠⁠⁠ Twitter → ⁠⁠⁠https://www.twitter.com/foundr⁠⁠⁠ LinkedIn → ⁠⁠⁠https://www.linkedin.com/company/foundr/⁠⁠⁠ Podcast → ⁠⁠⁠https://www.foundr.com/pod

Transcript

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0:00.0	Hey Founder Fam, I want to talk to you about something super exciting. We're officially partnered with Omniscend, the email marketing and SMS platform built specifically for e-commerce founders. We've been recommending OmnisCent to Founder students for a while now because it just works. Whether you're launching your first store or you're scaling the seven figures, it really helps you automate your marketing and get real results.
0:24.0	Did you know on average, Omnysend customers make $68 for every $1 they spend, which is an insanely good return on investment.
0:32.6	And because you're part of the founder community, you get 50% off your first three months with the code Founder 50.
0:39.3	Just head to Omnisend.com forward slash founder without the E to get started.
0:45.0	All right, now let's jump back into the show.
0:48.9	What if you could build a billion dollar beauty brand by doing exactly the opposite of what your competitors are doing.
0:56.4	Today's guest is Joey Sharma, co-founder of Alf Cosmetics, the brand that revolutionized
1:02.2	the beauty industry by proving you could sell high-quality makeup for just $1.
1:07.2	Starting as a 20-year-old with no MBA and radical idea that the industry laughed at,
1:12.5	Joey bootstrapped Alf from his father's warehouse got rejected by every major retailer,
1:17.6	ultimately taking the company public at over $1 billion and creating generational wealth in the process.
1:23.4	So in this conversation, you're going to discover how to identify white space in saturated markets
1:28.3	by doing the exact opposite of incumbents, the art of turning rejection into opportunity,
1:33.2	and why getting passed on by retailers force them to build something bigger and the critical
1:39.3	lessons about exits that Joey wishes he'd known before doing his first deal.
1:46.9	Hear the stories.
1:48.8	Learn the proven methods and accelerate your growth and future through entrepreneurship.
1:54.6	Welcome to the founder podcast with Nathan Chan.
2:00.6	All right.
2:01.5	So the first question I want to ask you is what early influences shape your entrepreneurial
2:08.2	career and journey and drive to build something that is marketable and, you know,
2:14.0	distinct from your father's business?
	...

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