The Cashflow Show · 2025-12-16 · 14 min
Key moments - from our scoring
Substance score
33 / 100
Five dimensions, 20 points each
Tahlia Gray, founder and CEO of Sheer Chemistry, discusses how a personal frustration - the inability to find tights matching brown skin tones - evolved into an eight-year business addressing a decades-old market gap. Traditional nude tights in beige shades make darker complexions appear ashy, a problem Gray validated through surveys showing 98% of over 100 women respondents would purchase properly matched hosiery. Gray shares her bootstrapping approach, combining full-time work with part-time entrepreneurship while leveraging startup loans and programs like Founder Vine's Ray Forward to access both capital and crucial networks. She credits a serendipitous conversation at the London College of Fashion with connecting her to the UK's largest tights distributor, which led to her current manufacturers. Gray explains how societal shifts post-2020 and visibility from founder networks transformed retailer attitudes from "no demand exists" to recognizing genuine market opportunity. Her five-year plan centers on raising investment to enter mainstream retail and scale into North America - a market representing 17x growth potential - while protecting brand assets like trademarks and distinctive product naming.
Traditional nude tights come only in beige shades, which on brown complexions appear ashy or gray. This product gap existed in major department stores, prompting Gray to start Sheer Chemistry to offer tights in shades that actually match diverse brown skin tones.
Gray invested personal savings from her corporate job, worked part-time alongside the business for six of eight years, secured a startup loan, and accessed funding through Founder Vine's Ray Forward program, which also provided networking connections that led to investor relationships.
Gray focuses on trademarking brand assets including the Sheer Chemistry name, company slogans, and unique product shape names inspired by cosmopolitan cities, since individual colors cannot be protected.
Gray asked a panel member about trusted hosiery manufacturers; the panelist introduced her to a friend in the industry who was the UK's largest tights distributor, who then connected Gray to three manufacturers - one became her product development partner.
Gray views North America as representing a 17x growth opportunity, as the core audience for Sheer Chemistry's product is located there, making it a primary focus for the investment she plans to raise within six months.
Our reviewer’s read on each dimension, with quotes from the episode.
The episode is almost entirely an origin story with generic entrepreneurship platitudes; the only semi-substantive data points are a 98% survey result and a '17x growth opportunity' claim, neither of which is unpacked or contextualised enough to be actionable for a B2B operator.
traditional nudes, for those who don't know, have come in shades of beige, which on brown complexions make our legs look ashy or gray
for us, North America represents a 17 times growth opportunity
The 'I couldn't find X for my demographic so I built it' narrative is one of the most well-worn founder stories; the networking advice and market-validation approach are completely standard, and there is no contrarian or first-principles thinking on offer.
I think the power of networking. And I think that's where The Ray Forward program is very vital
Fast forward to 2020 when unfortunately we went through the, um, tragic murder of George Floyd and a lot of these conversations were coming to light. Then it was like, oh, my gosh, actually there is demand
Tahlia Gray is a genuine practitioner who has operated the business for eight years, navigated manufacturing, retail partnerships, and IP, giving her real credibility; however the business appears to be small-scale and pre-growth-stage, limiting the depth of hard-won operational insight she can share.
I've been running the business for eight years now, and for six of those eight years I've been working part time, full time in order to kind of supplement my income
We did have a stint, a four year stint of that
A handful of concrete figures appear (100 women surveyed, 98% buy intent, 8 years running, 4-year retail stint, 17x North America opportunity) but none are sourced or elaborated upon, and there are no revenue figures, funding amounts, cost structures, or unit economics anywhere in the episode.
I asked over 100 women about, you know, their buying patterns, if they would buy a product like this, how much they would spend on it. Um, and there was unanimous, like 98% of respondents said if this product did exist, you know, they would buy it
for us, North America represents a 17 times growth opportunity
The host asks almost exclusively broad narrative questions ('What made you start this business?', 'What advice would you give?') and uses valuable airtime to share a long personal anecdote about himself; there is no follow-up on the unchallenged '17x growth' claim, no probing of why the first retail stint ended, and no productive disagreement anywhere in the episode.
Going back to the very beginning of your journey, what advice would you give to potential business owners or people thinking about starting their own business that you've picked up along your journey?
I'm glad you highlighted that because I have attended many, many, many, many events over many years, and I still often find that I'm the only guy in the room
Computed from the transcript - who did the talking, and the words that came up most.
Episode Summary For decades Black and brown women have worn “nude” tights that made their legs look grey and ashy. Tahlia Gray got tired of it. Eight years, one startup loan, six years of side-hustling, and a pivotal investor introduction from Wray Forward later - Sheer Chemistry is the UK’s leading inclusive hosiery brand (and heading to North America). Hear the raw story of self-funding, 98 % survey validation, trademark battles, and why mainstream retailers finally said “yes” after 2020.
Transcribed and scored by The B2B Podcast Index.
Speaker A: This is Clayton. For the Cash Flow show today, we have Talia Gray, founder and CEO of Shea Chemistry. Shea Chemistry uses a unique blend of expertise in brand development, product innovation and community building, with a strong focus on inclusivity and sustainability. Thank you for joining us, Thalia.
Speaker B: Lovely to be here. Thank you for having me.
Speaker A: You're most welcome. Please tell us about your role as the founder and CEO at Sheer Chemistry.
Speaker B: I'm Thalia and I'm the founder of Sheer Chemistry. And we are a hosiery brand created to empower and celebrate women of color by offering a range of tights that perfectly match all brown skin tones.
Speaker A: So what made you start this business?
Speaker B: Tights that match my skin tone was something that I always wanted but couldn't find. As a fresh graduate working in the corporate world, I just wanted to find a pair that I could wear to work and then carry me seamlessly through the day, whatever would happen. And at the time I was working in New York, so I thought having a product like that would be very easy to find. But I would go into department stores and they didn't exist. Um, so this began a journey of hoarding tights and buying tights that I thought in the department store light would match my skin tone. But, um, traditional nudes, for those who don't know, have come in shades of beige, which on brown complexions make our legs look ashy or gray and made me feel very self conscious. So I started your chemistry really on the premise to celebrate the diversity of brown skin tones and create a product that didn't exist in the market. So really filling in a needed gap.
Speaker A: That all takes money to start off a business and a business venture. What innovative approaches have you taken to try and secure investment or resources for your business in what is really effectively a tough climate?
Speaker B: It is a very tough climate. Beginning the business, really, I, um, I was working full time and a lot of that money I saved and then invested into the business, which a lot of us do. Um, I've been running the business for eight years now, and for six of those eight years I've been working part time, full time in order to kind of supplement my income, which a lot of it goes straight into the business. And then on top of that, I have, I had a startup loan which allowed me to get going. But, um, some of the support from founder Vine's Ray Forward program has also allowed me access to funding. I was part of a pitch program, um, a pitch night last year. Um, and although I didn't win, um, the prize money, I was introduced to an investor on the night, which really opened the door. Um, and I think it's really testament to some of the networks, um, that the program gives black founders like myself access to because it not only providing us with grant support, but it's also providing us with relationships and networking opportunities that in my case, led to significant money that, that I was able to invest into the business.
Speaker A: So when you started to punt your idea around, what kind of response did you get?
Speaker B: Yeah, well, that's a really good question. As I said, you know, this was, uh, an issue that I had personally faced. And so the conversation came up regularly with my friends and with about, you know, I've been trying to find types, can't find them. And it really resonated with everyone, like, oh, my gosh, this is a problem that I've been facing for years, for decades. And so it was constant affirmation and confirmation that this is a gap that needed to be filled. On top of that, I did some quantitative research, which was in the form of surveys. I asked over 100 women about, you know, their buying patterns, if they would buy a product like this, how much they would spend on it. Um, and there was unanimous, like 98% of respondents said if this product did exist, you know, they would buy it at, uh, such and such a price point. And so I think that was just also the tipping point that I needed to, to validate my idea and get going. It's been a very positive response. Even after launch, we've had women write to us about, you know, how we've given them the confidence to wear a dress for the first time in 15 years or, you know, young ballet dancers who have worn ballet tights in a ballet class for an exam. And just the confidence boost it has given young dancers to perform at, ah, their best and feel their best, most authentic self. So, in essence, we're celebrating a diverse space of beauty and we're empowering people to feel confident and gorgeous in their own skin in whatever arena that may be in.
Speaker A: Based on the idea that you're celebrating diversity and you're actually meeting a market that I know has existed for decades. Not being a tights wearer myself, I've been in contact with ladies, obviously, who have, and they. There was a brand of tights when I was growing up called American Tan. Yeah, that were disgusting. And those tights didn't look anything like the ladies that were wearing them.
Speaker B: Yeah.
Speaker A: And I think that's what probably people alluded to when they were saying that it didn't quite work. Do you think that without things like Find a Vine and um, Ray Forward, if you had tried to pitch that, say, maybe 10 years ago in Canary Wolf to somebody, even though the market was still there.
Speaker B: Yeah.
Speaker A: Do you think you would have got anywhere?
Speaker B: It's a really good question. Um, and I think the appetite for, for products like mine is definitely changing and the conversation, the mainstream conversation around it is changing. I think the, um, visibility of the Power Book is really important because it really amplifies what we're doing as business owners. So I guess, to answer your question, so 10 years ago, having conversations with the likes of the big retailers, a lot of the time they were like, there's no demand for this. And so it was quite a battle to convince a lot of buyers that there was a market opportunity that they could be part of with a product like mine. I guess Fast forward to 2020 when unfortunately we went through the, um, tragic murder of George Floyd and a lot of these conversations were coming to light. Then it was like, oh, my gosh, actually there is demand, there is the need, there is a business opportunity that we can tap into retailers, uh, were willing at that point to jump on the back of. So, yes, the tide has definitely changed, um, and it is testament to, uh, a lot of the societal, um, shifts that have happened, but also due to the work that founder vine is doing, um, with businesses like mine and showcasing the Power Book, allowing us to be spotlighted, making a shift in industries that has been needed to happen for some time.
Speaker A: When you started your business, did you think about scalability and expansion first or did you think, let me just get this show on the road?
Speaker B: Um, I think it was more so like, let's just get this, let's just get it started. I definitely knew that there was an international opportunity, um, so that was kind of in the back of my mind. But I guess, you know, first of all, finding a manufacturer, getting the branding done, getting the word out was my number one priority. So it was more kind of, let's test the market, um, on a small scale, which is more the uk. Let's see if there's a demand, let's see if I can sell these products and then we'll see how to scale that at a later date.
Speaker A: Going back to the very beginning of your journey, what advice would you give to potential business owners or people thinking about starting their own business that you've picked up along your journey?
Speaker B: A point that I've alluded to is just the power of networking. And I think that's where The Ray Forward program is very vital. So I would say to founders who are, uh, at the beginning of their journey just to tap into existing networks. For me, that looked like going on Eventbrite in like 2016 and typing in business events, fashion and keywords like that. But I guess one of my very first stories, which I guess just highlights the power of that, is I went to a business event at the London College of Fashion, which was entitled the Business of Fashion. Um, and at that time I had gone onto Google. I'd researched, um, different manufacturers in the UK and in Europe that did tights. Um, but I didn't know who to trust and I didn't actually call anyone on that list because I was concerned that someone was going to steal my idea. I think this is a natural concern for people at the beginning of their journey. I guess as you go along, you know that no one really cares. And, um, it takes a lot to start a business and therefore sharing your idea is actually essential. But I went to this event and I asked a question to the panel and I said, you know, I have this business idea to start a tights company. I've researched all these manufacturers. I don't know who to trust. What do you recommend? And one of the women on the panel spoke about kind of the importance of having NDAs and contractual terms and all of that stuff. But I think the highlight of what she said was I have a friend who works in the hosiery industry and I would love to introduce you. And that friend happened to be the largest distributor of tights in the UK at the time, who then introduced me to three manufacturers, one of which I ended up doing all of my product development with. So I guess it's the power of being in the room, the power of asking a question, and just the power of getting out of your house and doing something. So again, Ray Forward offers so many opportunities to be in the room and to have access to industry experts and people who are doing things. So I think that's my main piece of advice.
Speaker A: I'm glad you highlighted that because I have attended many, many, many, many events over many years, and I still often find that I'm the only guy in the room. And not only the only, only guy, I'm the only black man in the room. And what's interesting to me is, is that a lot of people don't understand just by being in the room, you can create networks within networks. And I think that if people actually looked at these opportunities, sometimes you have to step out of your comfort zone. To meet with people and even though don't always go with the expectation of doing business, always go with the expectation of learning more.
Speaker B: Yeah.
Speaker A: You know, seeing more, hearing more, doing more. And that will then lead in order to build your networks. And I think that's incredibly important. But one thing I wanted to touch on was you mentioned briefly or alluded briefly to intellectual property.
Speaker B: Mhm.
Speaker A: And I want to know, especially when you came up with your idea, was this ever discussed with you? Was this ever a part of the journey, a part of the conversation?
Speaker B: Yes, it was an important part of the conversation actually because I learned along the journey, colors per se can't be protected. Um, so I did have some early conversations with like intellectual property, lawyers, etc. About the best way to protect my, my brand. And I guess it was more leaning towards trademarks and how the name Sheer Chemistry and some of our slogans and shape names which I will just plug are named after Cosmopolitan and desirable cities, so are very unique and really tell a story about where we've been and where we're going and kind of the places where we find our best selves or the best parts of ourselves. And so I went through this process of trademarking all of those brand assets that really distinguish Sheer Chemistry and make um, us stand apart from our competition because the color element unfortunately couldn't be protected.
Speaker A: In terms of moving forward, what are your plans for the next five years?
Speaker B: Ah, that's a very good question. So I think as we are talking about finance, um, and raising funding, I think it's quite fitting to say that in the next six months I'll be raising investment and really that is to do two things to, to scale. Um, so I want to get into mainstream retail. We did have a stint, a four year stint of that. Um, but I think I've restructured the business in a way that I think it could work better the second time round and then I want to go into the North American market. So for us, North America represents a 17 times growth opportunity. Um, really the core audience of our product is in North America and so I would like to use that investment to expand globally. Um, and that also requires growing the team.
Speaker A: So where can our Cash Flow show listeners go to for more information?
Speaker B: So you can find us@sheer chemistry.com and on all social media platforms at Shear Chemistry.
Speaker A: Talia Gray, founder and CEO of Shea Chemistry. Thank you for joining us on the Cash Flow Show.
Speaker B: Thanks so much for having me.
Speaker A: You're most welcome.
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