Luna Magic Cosmetics is a personal care brand based in Los Angeles, California. The brand offers products suitable for all skin tones, focusing on both brown and white skin tones, and provides high-quality products at affordable prices.
Luna Magic follows three core principles, known as the “three B’s”:
- Bueno: Great quality—products that are long-lasting with minimal fallout.
- Bonito: Beautiful—attractive packaging.
- Y Barato: Affordable—products offered at reasonable prices.
These products are designed for everyday use, not just seasonal. Luna Magic aims to give you a luxurious look at an affordable price.
The brand sells a variety of cosmetic products, including makeup, eyelashes, primers, fragrances, nail polish, face masks, hair clips, and gift cards.
| Company Name | Luna Magic Cosmetics |
| Founder | Shaira Frias And Mabel Frias |
| Business | High Quality, Affordable Cosmetic |
| Asked For | $200,000 For 10% Equity |
| Final Deal | $250,000 As A Credit Line For 30% Equity |
| Shark | Barbara Corcoran |
| Episode (Shark Tank India) | Season 12 Episode 10 |
| Business Status | In Business |
| Net Worth 2022 | $1.5 Million *Approx |
| Website | lunamagic.com |
See This Love Is Project Shark Tank Update
Who Is The Founder Of Luna Magic?
Two sisters, Shaira Frias and Mabel Frias, are the co-founders of Luna Magic, a brand started in Los Angeles. Both have worked hard to establish the company.
Co-founder Mabel Frias is an omni-channel retail strategist with over 13 years of experience in the fashion industry, specializing in digital merchandising strategies. She has worked with several beauty and lifestyle brands, including Macy’s, Nordstrom, and Savage X Fenty, Rihanna’s lingerie line.
Mabel holds a Bachelor of Arts in History from New York University and a Master’s degree in the History of Decorative Arts & Design.
Shaira Frias is an entrepreneur, professional makeup artist, and former journalist. She has appeared in various media outlets such as NY1, Fox News Latino, and Mundo Hispánico. Shaira holds a Bachelor of Arts in Journalism & Spanish from CUNY Brooklyn College and is a graduate of the world-renowned Academy of Freelance Makeup.
Did Luna Magic Get a Deal on Shark Tank?
Sisters Shaira Frias and Mabel Frias, co-founders of Luna Magic, pitched their makeup brand on Shark Tank. They asked for $200,000 at a $2 million valuation in exchange for 10% equity.
During the pitch, the founders shared that they offer Spanish and salsa classes to their customers.
When Barbara Corcoran asked about their sales, the sisters explained they had sold $16,000 in products. However, the company reported generating $103,000 in total, which includes $16K in product sales, $30K in grants, and $57K from marketing partnerships. They also sold 300,000 brushes through their subscription model, earning $57K in profit from a $498,000 order.
The Cosmopolitan Shadow Palette, one of Luna Magic’s products, costs $3.40 to make, has a retail price of $26, and an online price of $16 as of July 2022.
The founders projected $1.1 million in sales for the following year, thanks to a partnership with Walmart. They have personally invested $250,000 into the business and reported having $157K in cash available.
Mark Cuban declined the offer, stating that the business would require a lot of work. Kevin O’Leary also passed, calling the business a “nightmare.” Alex Rodriguez admired the founders’ story but was not interested in investing in cosmetics.
Barbara Corcoran liked the business but found the sales numbers confusing. She offered $250,000 as a credit line for 30% equity. Lori Greiner, impressed by the story and product, chose not to invest because she had already invested in a cosmetics business.
In the end, Shaira and Mabel accepted Barbara Corcoran’s offer of $250,000 as a credit line for 30% equity.
Luna Magic Shark Tank Update
The Cosmopolitan Shadow Palette was priced at $16 in July 2022, compared to the previous year’s price in 2021.
Luna Magic is now available on Amazon, where customers can purchase the products with attractive discounts.
The brand is currently sold in Walmart stores and is gradually expanding internationally.
What Is The Luna Magic Net Worth?
Luna Magic’s net worth is estimated at $2 million. This affordable cosmetic brand is focused on growth and is available in many retail stores across the United States.
