Beauty Businesses

Tyra Banks's Next Chapter: Focusing on Her Beauty Startup

Tyra Banks's Next Chapter: Focusing on Her Beauty Startup
Image credit: Tyra Banks | Facebook
Guest Writer
2 min read
Opinions expressed by Entrepreneur contributors are their own.

Tyra Banks likes to keep busy. Before she ends a project, she tries to figure out "what is that next thing" and how to "do that seamlessly," she said yesterday at the WSJD conference in Long Beach, Calif.

Last week, Banks broke the news on Twitter that her reality competition series America's Next Model is ending after 12 years and 22 seasons.

Speaking onstage in a grey t-shirt with the words "I'm an entrepreneur, bitch," Banks suggested that when Top Model wraps she will pour her energy into Tyra Beauty, her cosmetics line that launched last year.

She hasn't previously taken outside investment. "Mine is a 100 percent entrepreneurial venture, no licensing," she told Allure last October. "There’s no person that’s paying me. It’s all 100 percent self-funded.”

But this will likely change: “Based on our growth, I’m not going to be able to afford to carry it forever so we’re going to be raising some money next year," she said at the conference.

Banks, a Harvard Business School graduate, hinted that she will make Tyra Beauty a higher priority; she has reached out to business executives, including Zappos CEO Tony Hsieh, for advice and will form a "legitimate board" for the company next year.

Celebrity-fueled entrepreneurial ventures have a mixed track record. There are notable successes – such as the Jessica Alba-backed eco-friendly consumer goods startup The Honest Company, recently valued at $1.7 billion – but also high-profile flops, including Jay Z's struggling music streaming service Tidal and Blake Lively's now shuttered "lifestyle" site Preserve. 

Related: As Criticism and Comparisons Abound, Gwyneth Paltrow's 'Goop' Gets the Last Laugh

More from Entrepreneur

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.