Are You Looking for Luna Magic Cosmetics Shark Tank Update? Luna Magic is a Cosmetic Brand Appearing in Sharp Tank Season 12 Episode 10 that claims that their company is making high-quality, affordable cosmetic products. In this article, I am talking about Luna Magic Shark tank’s Net Worth, Valuation, Founder, and Deals.
Luna Magic is a cosmetic brand This cosmetic industry is very big complete and full of high competition brands. The reason for a new startup to build its brand in this industry is quite complex, but Luna Magic has created its own brand due to its unique concept.
So this is Luna Magic indie beauty & lifestyle brand. The founders of this brand Afro-Latina & Dominican-American Sister Mabel and Shaira Frías built this business.
Both of these sisters are passionate about beauty products. She discovered a problem regarding this cosmetic industry, she found that there are very few beauty products for different skin stones.
To solve this problem, she launched her own beauty & lifestyle brand. It gives a glimpse of Latin culture and music.
A company of Luna Magic, it has a mission to deliver high-performance cosmetics, bold flavor, diversity, inclusivity, and vibrancy to the beauty industry.
The rich culture and music of the Caribbean & Latin America have contributed a lot to the inception of this product. The special thing about this is that two women are leading this company, which is good for the company.
If we look at the market of cosmetics, then we come to know that this industry is very big, in 2019, the global market value of the industry was $380.2 billion. It is projected that by 2027 this industry will reach a global value of $463.5 billion.
The cosmetic business is a profitable business as it gives a profit margin of 60% to 70%. Every year many startups are formed in this industry and 80% of those startups get shut down. It is very difficult for a new player to survive in this industry.
What Is Luna Magic Cosmetics?
Luna Magic Cosmetics is a Los Angeles, California-based personal care product manufacturing brand launched in 2019.
The personal care products they have are for every skin stone, whether it is brown or white, it focuses on every color. It provides high-quality products at a good price.
It tries to provide high-quality products to the people through its three “B” concepts. Which is Bueno, Bonito, Y Barato.
Bueno means great quality This product is good quality, long last with minimal product Fallout. Bonito means beautiful The packaging they have is beautiful. Y Barato means that the price of their product is quite affordable.
This is a custom product that is not meant for a sessional thing, it can be used on this day of the year.
This cosmetic brand says that you can get a rich look at an affordable price.
It sells different types of cosmetic products, it includes Makeup, Eye Lashes & Primer, Fragrance, Nail Polish, Face Masks, Hair Clips, and Gift Card.
Luna Magic Cosmetics Shark Tank Update
|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|
|Episode (Shark Tank India)||Season 12 Episode 10|
|Business Status||In Business|
|Net Worth 2022||$1.5 Million *Approx|
See This Love Is Project Shark Tank Update
Who Is The Founder Of Luna Magic? – Shaira Frias And Mabel Frias Shark Tank
Two sisters Shaira Frias And Mabel Frias is the co-founder of Luna Magic. This brand was started in Los Angeles. Both these sisters have worked hard to make this company.
Co-Founder Mabel Frías is an omni-channel retail strategist with +13 experience in the fashion industry executing digital merchandising strategies.
Behind taking this experience, she has worked in many beauty and lifestyle brands, this includes Macy’s, Nordstrom, and Savage x Fenty, lingerie by Rihanna.
Talking about her education, she completed his Bachelor of Arts in History from New York University and She earned her MA degree in History of Decorative Arts & Design.
To know about Shaira Frias, an entrepreneur, professional makeup artist, and former journalist. It had appeared in many media outlets is NY1, Fox News Latino, and Mundo Hispánico.
She completed her Bachelor of Arts in Journalism & Spanish from CUNY- Brooklyn College. Apart from this, she graduated from the World-Renonade Academy of Freelance Makeup School.
Luna Magic Before Shark Tank
The initial journey was not easy for Luna Magic but these two sisters grew this business well. Her mother was behind this business idea.
Mabel approaches her sister Shaira to take this business idea forward Shaira, who is an entrepreneur, and professional makeup artist, supported her in this.
This startup was launched in 2019 to provide high-quality, affordable cosmetic products to women of every skin stone.
In May 2020, this company received Glossier Grant, Awards, as a billion-dollar Make sub-company, specifically as Black and Beauty Companies. They were one of 16 “winners” out of over 30,000 applicants.
The Frais Sisters had already analysis the market and knew that African American and Latina women would spend $35 billion a year on cosmetic products.
Did Luna Magic Get a Deal on Shark Tank?
Sister Shaira Frias And Mabel Frias, co-founders of Luna Magic, pitched Shark about their great makeup product after their appearance on Shark Tank.
The two sisters asked Shark for $200,000 at a $2 million valuation of Luna Magic in exchange for 10% equity.
The founder also told Shark along with the pitch that he gives Spanish classes to his customers along with salsa classes.
When Barbara Corcoran asked the founder about the sales, the founder said in it that she has sold $16,000 so far.
But according to the company, they have generated $103,000 in three ways, So in that they have $16K in product sales, $30K in grants, and made $57K from marketing partnerships.
It solders 300,000 brushes in its subscription package. She got a purchase order for $498,000 on the brush in her subscription model, earning him a profit of $57K.
The Cosmopolitan Shadow Palette, a product of Luna Magic, has a making cost of $3.40 and a retail cost of $26 but an online price of $16 as of July 2022.
The founder said she only sold $16K in 2020 but would sell $1.1 million in the coming year. The reason for this is that she has gone to the retail store Walmart.
Both these sisters have invested $250,000 in this business from their own shaving. the founder said the cash available in his bank is $157k.
Mark Cuban says that there is going to be a lot of work in this, so for this reason he is out of this business offer.
Kevin O’Leary says He’s impressed but they’ve got a nightmare ahead of them, for those reasons I am out.
Alex Rodriguez had to say about this business that he admires the founder’s story, but he is not interested in the cosmetic business. Because of this, he cannot invest in it.
Barbara Corcoran said she liked it, But the sales number mentioned in it is confusing about this but she would like to invest in it. Her counter offer was $250K as a credit line for 30% equity.
Lori Greiner is impressed by the story of the founder and her product, but she has already invested in the cosmetic business, so she cannot do it.
Only Barbara Corcoran had an offer, both Sister Shaira Frias and Mabel Frias signed the $250,000 as a credit line for a 30% equity offer by Shark Barbara Corcoran.
What Happened To Luna Magic After Shark Tank?
Luna Magic manufactures high-quality, affordable cosmetic products. When its episode of Shark Tank was released, its products started selling out in a few weeks.
The reason for the increase in its sales is that its affordable price is much less than other cosmetic products.
The Cosmopolitan Shadow Palette is priced at $16 in July 2022 compared to last year’s 2021.
Luna Magic is now available on Amazon Store, you can buy this cosmetic product from the Amazon website with a good discount.
The retail market of this cosmetic brand is Walmart. Apart from this, it is slowly trying to expand internationally.
Where Can You Buy Luna Magic?
You can buy Luna Magic’s affordable cosmetic products both in the retail and online market. The best platform to buy in retail is Walmart and online it has been made available on its website and Amazon. If you want to buy through Amazon then its link is given below.
What Is The Luna Magic Net Worth?
The cosmetic company struck a deal in Shark Tank at a $2 million valuation but got the deal sing at an $833k valuation. The founder said that he would sell $1.1 million after coming to Walmart, but we have not got any information about it.
We think Luna Magic’s net worth might be around $1.5 million right now.
Is Luna Magic Still In Business?
Luna Magic has been able to sell its cosmetic product even in July 2022.
This affordable cosmetic brand is focused on expanding its growth, it is available in many state retail stores in the United States.
This cosmetic product of her focuses more on African American and Latina women, as these are her target customer.
If we give our opinion about this business then it is difficult for this business to survive in the feature. Because there are many big companies that can take over it. Perhaps in the coming time, it may also merge with a big company.
Content Photo Credit: Amazon.com & lunamagic.com