Stryx

Stryx operates in the burgeoning men's personal care market, specifically targeting the underserved niche of male cosmetics. The company was co-founded by CEO Devir Kahan and CMO Jon Shanahan. The idea originated from Kahan's personal experience of having a pimple on his wedding day with no discreet solution available. This led to the development of a product line designed from the ground up for men, addressing issues like acne, redness, and oily skin.

Kahan, a 2018 graduate of Yeshiva University, conceived the idea during his final year. Shanahan brought his experience from the tech and retail industries, including a stint at Apple and running a successful men's style YouTube channel called The Kavalier. This combination of a personal, relatable problem and marketing expertise has been central to the company's strategy. Stryx was founded in 2017 and launched its first products in 2019.

The business model is primarily direct-to-consumer (D2C) through its website, which accounts for the majority of sales. However, Stryx has also established a significant retail presence, strategically placing its products in the men's shaving aisles of national retailers like Target and formerly CVS, a move designed to make cosmetics more accessible and less intimidating for male shoppers. This strategy targets men aged 25-45 in people-facing professions who are conscious of their appearance. The company generates revenue through the sale of its products, with an average price point of around $30 and high gross margins.

Stryx's product portfolio is engineered to be functional and discreet. Key offerings include a unique Concealer Tool, a Tinted Moisturizer, an Energizing Eye Tool, and Pimple Patches. The products are formulated in South Korea, a global leader in skincare innovation, and feature packaging that resembles items like pens or USB drives to avoid the stigma associated with traditional makeup. A significant milestone was the company's appearance on "Shark Tank," where the founders pitched for $600,000 for a 5% equity stake. They accepted an offer from Robert Herjavec for $600,000 for 10% of the company, although the deal later did not close. Despite this, the television exposure significantly boosted sales and brand recognition. In May 2023, the company was acquired by Foundry.

Keywords: men's cosmetics, skincare, direct-to-consumer, concealer, male grooming, retail distribution, Shark Tank, e-commerce, brand acquisition, personal care