Dr. Anika, founder of OpulenceMD Beauty, sought $75,000 for 5% equity on Shark Tank Season 12, Episode 20, valuing her company at $1.5 million. Her brand offers a range of eye beauty products, including glue-free magnetic lashes, eye makeup, and skincare.
Most eyelash brands use glue to secure eyelashes, which can damage natural lashes. In contrast, OpulenceMD Beauty’s magnetic lashes do not use glue, reducing potential damage. The eyelash industry was valued at $1.3 billion in 2021 and is projected to reach $4 billion by 2031.
OpulenceMD Beauty also produces eyelash cleaners and Sculpted Brow & Lash Glaze. Their magnetic eyeliners have a shelf life of around 6 months, compared to the typical 3-4 months for regular eyeliners. The lashes are made from high-quality materials, cleaned, and can be used up to 45 times. However, they are not waterproof and should be kept away from water.
The company was founded by Dr. Anika Goodwin in July 2019. It offers direct-to-consumer sales and a platinum membership with a 20% discount for $30. During the pandemic, Dr. Goodwin sold products through the “Lashinista Starter Kit” on her website, priced at $125.
Before using the lashes, apply the magnetic liner and then place the lashes on the eyeliner. The product is designed for easy application and removal.
| Company Name | OpulenceMD Beauty |
| Founder | Dr. Anika Goodwin Hilderbrand |
| Founded | July 2019 |
| Product | luxurious beauty brands that make glue-free, magnetic lashes |
| Asked For | $75,000 for 5% equity |
| Final Deal | $100,000 for 20% equity |
| Shark | Kendra Scott |
| Episode (Shark Tank USA) | S12 E20 |
| Air Date | April 9, 2021 |
| Business Status | In Business |
| Net Worth | $1 Million *estimated |
| Website | Visit Website |
| Headquarters | Greensboro, North Carolina, US |
| Go To Amazon | Buy Now |
Another Shark Tank Pitch
Who Is The Founder Of OpulenceMD Beauty?
Dr. Anika Goodwin is the Founder and CEO of OpulenceMD Beauty and a board-certified ophthalmologist, also known as an eye and vision care specialist.
Dr. Goodwin earned a Bachelor of Science degree in Pharmacy from the University of North Carolina at Chapel Hill in 1997. She completed her Doctor of Medicine (MD) degree at the Medical University of South Carolina in 2001.
After her studies, she joined the US Federal Government as an Oculoplastic Surgeon in 2010. In 2018, she opened the EYEmergencyMD Clinic in Arizona, which closed in February 2020. She also founded Doc Mcdiva, LLC in March 2017, which is still operational.
According to BlackEnterprise, Dr. Anika Goodwin has performed over 10,000 eye surgeries during her 15 years as a board-certified ophthalmologist.
How Was The Shark Tank Pitch Of OpulenceMD Beauty?
Dr. Anika Goodwin appeared on Shark Tank seeking $75,000 for 5% equity in her company, OpulenceMD Beauty.
She shared the story behind her product and explained that although she does not hold a patent, she creates weightless, reusable lashes that can be used up to 40 times. The lashes are sold at $245 per box, with a manufacturing cost of $20, yielding a profit margin of over 95%.
Since its launch in February 2020, the company achieved $685,000 in sales by mid-2021, primarily through paid social media marketing. Last month alone, the product generated $213,000 in online sales.
While Mark Cuban and Kevin O’Leary declined to invest, Kendra Scott offered $75,000 for 20% equity. Dr. Goodwin countered with $100,000 for 20% equity, and Kendra Scott agreed to the deal.
OpulenceMD Beauty Shark Tank Update
OpulenceMD Beauty secured a successful deal on Shark Tank with Kendra Scott, founder of the luxury jewelry company.
Following the episode’s airing, the company experienced a surge in sales, achieving half a million dollars in just two months, significantly boosting their organic sales. Despite a slowdown in the following months, the post-Shark Tank period proved highly lucrative.
The company has been featured in numerous media outlets, including Black Entrepreneurs, Good Housekeeping, Bustle, Essence, and Beauty Independent. It was also listed as a Forbes Next 1000 Honoree in 2021.
The Shark Tank episode aired on April 9, 2021, and by August 2022, the company was projected to surpass $1 million in annual sales.
For updates, we are monitoring their website and social media channels.
What Is OpulenceMD Beauty Net Worth?
OpulenceMD Beauty has an estimated net worth of $1 million.
The company is still in the expansion phase, and it is unclear whether the Shark Tank deal with Kendra Scott has been finalized. Currently, OpulenceMD Beauty’s eyelash products are sold exclusively on its website and are not available on other e-commerce or retail platforms.
The company’s social media presence remains active, with a strong focus on influencer marketing. Notably, Instagram influencer and Jordan Brand athlete Dana Evans promoted OpulenceMD Beauty’s products on her Instagram account on August 23, 2022.
Yes, OpulenceMD Beauty is still in business as of July 2024.
