Two Denver friends have joined forces to launch their dream companies as one.
Shannon Kaygi, who has years of experience in the cannabis compliance and distribution industry, had always wanted to create her own CBD brand. And Rochonne Sanchez, who has a decade of experience in banking finance and managing high-risk liquidity assets for the hemp industry, always dreamed of owning her own beauty line on the side.
So last year, the duo decided to make their dreams a reality with a plant-based beauty line called Eossi Beauty, which they launched in July with a CBD-infused “facial glow oil.”
“Not only do we want to educate people about the benefits of CBD and hemp in general through our platform, but we’re also excited to be a part of this consistently growing million dollar industry and movement toward federal legalization and regulation,” Kaygi said.
The CBD-infused beauty industry is burgeoning. In 2019, it was valued at $273.7 million, according to a report by ResearchandMarkets. Large retailers, such as Barneys, CVS, Walgreens, Ulta and Sephora, offer a variety of CBD beauty and skin-care products.
And brands like Herbivore, Kiehl’s, Peter Thomas Roth, Milk and NYX all sell CBD products.
Kaygi and Sanchez did not want to miss out on the CBD trend. The general American CBD market could reach $16 billion by 2025, according to national investment firm Cowen and Co.
The founders named Eossi Beauty after the Greek goddess of the dawn, Eos. The beauty line will offer a variety of plant-based beauty products with sustainably sourced and vetted ingredients, such as hemp cannabinoid oil that’s tested by a third-party lab for quality and purity.
Kaygi founded her own hemp and CBD distribution company called SYK Holdings in 2018. She said she was tired of the “riff raff” she saw from other companies in the industry that didn’t properly disclose where their products’ ingredients were sourced from.
The co-founder said she decided it was time to create a responsible and honest product of her own.
“That was really the only thing that made sense to me at the time was to create a product that I could make and control with natural, high-quality and locally sourced ingredients, which I already had access to,” Kaygi said.
Sanchez, on the other hand, turned to CBD and saw the benefits after she got in a car accident in 2016. She works full-time managing high-risk liquid assets for banks, and after hemp was legalized in 2018, she made it her mission to secure financial assets for hemp companies.
“I was inspired to find and secure operating bank access for hemp companies, which is really difficult to do in that space, especially in 2018,” Sanchez said. “It’s my belief that a company should be able to access the bare minimum of things, including a bank account. And unfortunately, those in the hemp space can’t just walk into a bank and open an account because of its close relation to cannabis. So, I set out to change that.”
“However, that’s not my dream,” she added. “This is, so it’s great to be able to do both at the same time.”
The co-founders met through the cannabis and hemp industry and immediately became fast friends. When Kaygi pitched her idea to create her own brand, Sanchez veered them toward the beauty industry.
“I had never met another woman who was as passionate about the hemp industry as I was, and she mentioned this brand that she wanted to create, and it was like we were reading each other’s minds,” Sanchez said. “I have wanted my own cosmetics company since I was 12 years old and stealing makeup out of my mom’s bathroom, so it was pretty much fate.”
Eossi Beauty’s 50-milliliter facial oil is made with an organic Moroccan argan oil base and is available for $50 on the company’s website. It contains 1,000 milligrams of CBD oil to ensure that each dropper is full of 20 milligrams of CBD.
“You can’t make claims that it does anything. But we’ve seen the benefits of CBD, including redness reduction, anti-inflammatory properties, smoothing out lines and wrinkles, and it’s really great for plumping,” Sanchez said. “I also suffer from rosacea and eczema and it’s done great things to calm my skin.”
In addition to the argan facial oil, the co-founders plan to launch a CBD-infused body oil before the end of the year and a BB cream, or tinted moisturizer, in the first quarter of 2021.
“We want to layer our beauty line with products you would use in order,” Kaygi said. “So first we launched the facial oil, then the body oil, then the BB cream, and beyond that we plan to launch eyeshadow palettes and lipliners.”