Fur is a personal care product manufacturing company that produces all-natural skin and hair care lines. The product of this company is Fur Oil which was featured on Shark Tank.
This beauty company was founded in 2016 by two close friends Laura Schubert and Lillian Tung. Both of these women are entrepreneurs and also mothers. Lillian had created a hair care formula and when she saw a business opportunity in this formula, she discussed it with her friend Laura.
These two friends together started a fur company. Lillian has great knowledge of marketing and Laura understands finance and business. They had a lot of knowledge about business so they did not face many problems.
To expand the business, they decided to go to the Shark Tank and asked the sharks for $500,000 for 2.5% equity at a $20M Valuation. Their sales justify this valuation because their annual sales are worth a million dollars.
What Is Fur Oil?
Fur Oil is a natural pubic hair and skin product from the cosmetic company Fur. Fur Oil is a blend of grape seed oil, jojoba oil, clary sage oil, and tea tree oil that helps prevent ingrown hairs.
Fur Cosmetic Company does not just make ingrown oil but also produces different products for ingrown skin care and hair care like serums, creams, patches, brushes, etc. Customers can buy all these products from the Amazon store and the company website.
|Founder||Laura Schubert and Lillian Tung|
|Product||Natural skin and hair care cosmetic line|
|Asked For||$500k for 2.5% equity|
|Final Deal||$500k for 8% equity + $50k to a body positivity charity|
|Episode (Shark Tank USA)||S11 E13|
|Air Date||Feb 28, 2020|
|Business Status||Out of Business|
|Headquarters||New York, NY, US|
|Lifetime Worth (Sales)||$37.4M *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of Fur?
Fur Cosmetic Company’s Co-Founders are Two female Entrepreneurs Laura Schubert and Lillian Tung. These two friends started this company in 2016.
Laura is the co-founder and CEO of this company, she has a majority stake in the company. She has worked in “Goldman Sachs” and “L.E.K. Consulting” for many years. She worked as a case team leader at Bain & Company for 2 years.
Lillian is the Co-Founder and CMO of the company, She has years of experience in marketing because she has worked for many years in companies like Time Inc., and Maybelline.
How Was The Shark Tank Pitch Of Fur?
Laura and Lillian, both female entrepreneurs, entered the Shark Tank and asked for $500k for 2.5% equity. They explained their business to the sharks and the sharks liked the business but not the valuation of the company.
They told Shark that their sales last year were $5 million. Some media sites claim that in 2017, Emma Watson had revealed that she uses fur oil. After this, sales of fur oil increased like a skyrocketed.
Daymond John’s first offer was $500k for 15% equity at a $3.3 million valuation. Kevin O’Leary offered $500k for 2.5% equity + royalty $1 per unit until he recoups $1 Million.
Lori Greiner offered $500k for a 12% stake + $50k to a charity that promotes body positivity. Co-founders countered all the sharks with $500k for 5% equity. Daymond went down to 10% equity.
Lori went down to 8% equity. The co-founders accepted the offer.
What Happened To Fur Oil After Shark Tank?
Cosmetics company Fur gets a deal on Shark Tank. After this episode of Shark Tank aired, the company’s sales increased and they got most of the orders from Amazon.
This product is available on Amazon as well as in popular retail stores like Credo Beauty, Nordstrom, Bluemercury, and Ulta Beauty. On August 24, 2023, this company launched its new product Ingrown Deodorant.
What’s new on Fur Oil
Last Update: September, 2023
As of September 2023, the annual sales of this company are $5 million.
Fur Shark Tank Update
After this episode of Shark Tank aired, sales increased a lot. Many buyers have given positive reviews about Fur Oil on Amazon and other social platforms. Not much information is yet available about this business.
What Is Fur Net Worth?
Farr’s net worth is $10 million. This company is doing millions of dollars in sales every year and the owners are expanding the product line. The Cosmetics Industry Has High Competition, Its Market Size In 2023 Is US$19.43 Billion In the United States.
Is Fur Still In Business?
This business is performing quite well in current times. Two female entrepreneurs of this company are focusing on expanding the business with their expertise.
The headquarters of this company is in New York, United States and according to LinkedIn, 11-50 people are working in it.
Yes, Fur is still in business as of September 2023.
frequently asked questions
Who founded Fur?
Fur was founded in 2016 by Laura Schubert and Lillian Tung.
Did Fur get a deal on Shark Tank?
Cosmetics company Fur gets a deal on Shark Tank, Lori Greiner invests $500k for 8% equity.