Luna Magic Cosmetics Shark Tank Update (Season 12)

Luna Magic Cosmetics is a Los Angeles, California-based personal care product manufacturing brand launched.

The personal care products they have are for every skin stone, whether it is brown or white, they focus 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-lasting 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, including Makeup, eyelashes & primers, Fragrances, Nail Polish, Face Masks, Hair Clips, and Gift Card.

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-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, including 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 has appeared in many media outlets such as 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 approached 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 the Glossier Grant, Awards, as a billion-dollar Make sub-company, specifically as a Black and Beauty company. They were one of 16 “winners” out of over 30,000 applicants.

The Frais Sisters had already analyzed 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 that she had sold $16,000 so far.

However, 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 $57K from marketing partnerships.

It sold 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 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 but she would like to invest in it. Her counteroffer 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.

Luna Magic Shark Tank Update

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.

What Is The Luna Magic Net Worth?

Luna Magic’s net worth is estimated at $2 million.

This affordable cosmetic brand is focused on expanding its growth, it is available in many state retail stores in the United States.

If we give our opinion about this business then it is difficult for this business to survive in the future. Because many big companies can take over it. Perhaps in the coming time, it may also merge with a big company.