Networth and Chill with Your Rich BFF
Episode Title: Beauty is only Skin Deep - What tint are you?
Guest: Deepica Mutyala, Founder and CEO of Live Tinted
Release Date: October 23, 2024

Introduction: Setting the Stage

In this episode of Networth and Chill, host Vivian Tu dives deep into the world of beauty and diversity with her guest, Deepica Mutyala, the visionary founder and CEO of the successful beauty brand Live Tinted. The conversation blends personal anecdotes with professional insights, providing listeners with an authentic glimpse into how money, passion, and cultural identity shape the beauty industry.

Deepica’s Early Life and Family Influence

Childhood Empowerment: Deepica begins by reminiscing about her childhood, highlighting the profound impact her immigrant parents had on her entrepreneurial spirit. Growing up with a hardworking father and an entrepreneurial mother, Deepica felt a sense of abundance despite not being "Dr. Rich."

• Deepica Mutyala [04:02]: “I watched a really hardworking man and an entrepreneurial woman raise me. And I honestly think it's the reason I'm a hardworking entrepreneur today.”

Parental Support and Cultural Expectations: Her parents, especially her father, instilled in her the value of hard work while her mother’s multiple business ventures taught her about resilience and networking.

• Deepica Mutyala [06:19]: “My mom took that money and invested it properly. She was also a networking queen, connecting all the brown people in Houston together.”

The Birth of an Entrepreneur: From Influencer to Founder

Early Aspirations: At 16, Deepica knew she wanted to create a beauty brand that represented her and others like her, inspired by the lack of representation in existing products.

• Deepica Mutyala [07:14]: “I knew I wanted to create a makeup brand that was inclusive and catered to people of color.”

Career Path: Deepica pursued a marketing degree at the University of Texas, followed by roles at industry giants like L'Oréal and Birchbox, where she honed her skills in product development and influencer marketing.

• Deepica Mutyala [07:47]: “I became a beauty influencer, made a viral YouTube video, and then started my own beauty brand.”

Overcoming Skepticism: Despite her parents’ initial skepticism about her career choice, Deepica persisted, leveraging her influencer status to build a community that would eventually support her brand.

Building Live Tinted: Vision and Execution

Product Development: Live Tinted was born out of Deepica’s desire to fill the gaps in the beauty industry, particularly in catering to darker skin tones. The brand emphasizes inclusivity and functionality, creating products that address unique concerns of people of color.

• Deepica Mutyala [12:52]: “Live Tinted is all about thinking about concerns that are unique to people of color and addressing those, but they work for everybody.”

Signature Products: The Hustick, Live Tinted’s popular concealer, has won Allure’s Best of Beauty three times and now occupies significant space in major retailers like Ulta.

• Deepica Mutyala [16:06]: “Our Hustick won Allure Best of Beauty three times. We’re now in almost every Ulta door, next to big brands like Nars and Charlotte Tilbury.”

Unique Shade System: Live Tinted flips the traditional shade numbering by starting with the darkest shades as number one, challenging industry norms and prioritizing deeper skin tones.

• Deepica Mutyala [16:20]: “Our deepest shade is shade one. I was sick of shade numbering always starting with the lightest.”

Navigating a Competitive Landscape

Industry Saturation: Deepica acknowledges the influx of new beauty brands but differentiates Live Tinted by focusing on authenticity, quality, and meaningful representation.

• Deepica Mutyala [20:19]: “Rare Beauty has done it really well with purpose-driven strategies, while many other brands are just quick money grabs.”

Staying Authentic: She emphasizes that lasting brands are those that genuinely connect with consumers and solve real problems, rather than chasing trends for immediate profit.

• Deepica Mutyala [20:19]: “We’re here to stay because we focus on quality and representation, not just making a quick sale.”

Fundraising Challenges and Triumphs

Early Funding: Live Tinted started with $500k from friends, family, and smart investors who believed in her vision.

• Deepica Mutyala [26:06]: “We started with 500k from friends and family and some institutional investors who put in small checks.”

Overcoming Hurdles: Deepica shares a pivotal moment when an investor pulled out during due diligence, delaying her business growth by six months.

• Deepica Mutyala [39:54]: “During diligence, an investor pulled out because their focus group of 10 people didn’t relate to the brand. It slowed us down significantly.”

Current Success: Despite setbacks, Deepica successfully raised $15 million, demonstrating resilience and the strength of her brand’s mission.

• Deepica Mutyala [43:07]: “Now, we’ve raised $15 million and we’re thriving.”

Championing Representation and Inclusivity

Cultural Integration: Every aspect of Live Tinted reflects Deepica’s South Asian heritage, from packaging designs to shade naming, fostering a cross-cultural connection.

• Deepica Mutyala [18:31]: “Everything from marigold packaging to copper detailing reflects my cultural heritage and the brand’s inclusive ethos.”

Empowering Others: Deepica aims to inspire young girls and entrepreneurs from diverse backgrounds by showcasing a success story that they can relate to.

• Deepica Mutyala [24:19]: “South Asian girls will have an easier time raising if they see a success story by a South Asian woman who built something.”

Personal Milestones and Reflections

Barbie Recognition: A significant personal highlight for Deepica was Barbie creating a South Asian CEO Barbie doll inspired by her, symbolizing representation and empowerment.

• Deepica Mutyala [30:07]: “Seeing Barbie create a South Asian CEO doll after me was incredibly empowering.”

Balancing Personal and Professional Life: Deepica discusses the challenges of balancing her entrepreneurial ambitions with personal life, emphasizing the importance of financial independence and planning.

• Deepica Mutyala [48:29]: “I just decided to get a wealth manager to empower myself to understand my own finances.”

Expanding Beyond Beauty: Strategic Partnerships

Naturalizer Shoe Line: Deepica expanded her brand’s influence by partnering with Naturalizer to create a shoe line that celebrates skin tones, demonstrating her commitment to inclusivity across different industries.

• Deepica Mutyala [46:35]: “Creating a shoe line with Naturalizer that celebrates skin tones aligns with our mission of inclusivity.”

Strategic Collaborations: These partnerships serve as both a personal passion and a strategic marketing move, enhancing brand visibility and reinforcing Live Tinted’s inclusive message.

Securing Financial Future and Legacy Building

Financial Planning: Recognizing the importance of financial security, Deepica has recently engaged a wealth manager to manage her personal and business finances, breaking the cycle of dependency and ensuring long-term stability.

• Deepica Mutyala [48:29]: “I wanted to empower myself to understand my own finances, so I hired a wealth manager.”

Legacy Goals: Deepica aspires for Live Tinted to be a legacy brand that not only thrives globally but also serves as an inspiration for future generations.

• Deepica Mutyala [44:38]: “I want Live Tinted to outlive me, so my kids can say grandma made this happen.”

Conclusion: Triumphs and Future Aspirations

Deepica Mutyala’s journey from a passionate teenager to a successful entrepreneur encapsulates the essence of perseverance, cultural pride, and strategic planning. Her candid discussions on the challenges of fundraising, the importance of representation, and her future vision for Live Tinted provide valuable lessons for aspiring entrepreneurs. The episode concludes with Deepica’s commitment to expanding Live Tinted globally, while Vivian Tu emphasizes the significance of supporting diverse and authentic brands.

Notable Quotes:

• Deepica Mutyala [33:06]: “Nothing fuels me like spite, by the way. Like nothing.”
• Vivian Tu [25:03]: “Your wins are our community's wins.”
• Deepica Mutyala [37:58]: “We're just doing it with other people. That's why your wedding looks so fun.”
• Vivian Tu [43:32]: “People want to sound big and rich and expensive, for sure.”

Where to Find Live Tinted

Listeners can explore Deepica’s inclusive beauty products at Ulta Beauty, Sephora Canada, and directly through the Live Tinted website at livetinted.com.

Final Thoughts

This episode of Networth and Chill offers a compelling narrative of determination, cultural advocacy, and business acumen. Deepica Mutyala’s story is not just about building a beauty brand but about creating a legacy that empowers and represents diverse communities in an ever-evolving industry.