Did Luna Magic appear on Shark Tank Season 12? Yes, Luna Magic successfully pitched their high-quality, affordable cosmetic line on Season 12 of Shark Tank USA and secured an investment from Barbara Corcoran.
Summary
- Luna Magic, a cosmetics brand, appeared on Shark Tank Season 12.
- They sought $200,000 for 10% equity.
- Barbara Corcoran offered a $250,000 credit line for 30% equity.
- The founders accepted the deal.
- The brand focuses on high-quality, affordable cosmetics.
Luna Magic Shark Tank Update | Shark Tank Season 12
Luna Magic, a vibrant cosmetics brand, made a splash on Season 12 of Shark Tank. The brand, founded by sisters Mabel and Shaira Frías, aims to bring high-quality, affordable beauty products to the market.
Their appearance on Shark Tank was a pivotal moment, showcasing their passion and potential to a national audience.
Luna Magic Shark Tank Pitch
1. The Pitch
| Entrepreneurs | Shaira and Mabel Frias |
|---|---|
| Business | High-Quality, Affordable Cosmetics |
| Ask | $200,000 |
| Deal | $250,000 Credit Line for 30% Equity |
| Sharks | Barbara Corcoran |
| Season | 12 |
| Original Air Date | January 15, 2021 |
| Website | Luna Magic |
| Key Points of Pitch |
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| Why Sharks Accepted |
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2. The Founders’ Story
The Frías sisters, Mabel and Shaira, are first-generation Dominican-Americans. Their passion for beauty was instilled in them from a young age, inspired by their mother’s love for makeup.
They recognized a gap in the market for cosmetics that catered to diverse skin tones while remaining budget-friendly. This realization fueled their desire to create Luna Magic.
3. The Product Line
Luna Magic’s product line is a celebration of vibrant colors and rich pigments. They offer a range of cosmetics, including eyeshadow palettes, lipsticks, highlighters, and more.
Their focus on inclusivity is evident in their diverse shade ranges, ensuring that everyone can find products that complement their unique beauty.
The Sharks’ Response
The Sharks were captivated by the Frías sisters’ passion and the overwhelmingly positive customer feedback for Luna Magic. However, their keen business sense also led them to raise some important concerns:
1. Initial Reactions and Questions
The Sharks were intrigued by Luna Magic’s concept and early success, but they also wanted to delve deeper into the business side of things.
They inquired about the company’s financials, profit margins, and how they planned to navigate the competitive cosmetics market.
2. Concerns and Challenges
Some Sharks expressed reservations about the saturated cosmetics industry, questioning how Luna Magic would differentiate itself and achieve sustainable growth.
They also raised concerns about the sisters’ relative lack of business experience.
3. Barbara Corcoran’s Offer
Despite these concerns, Barbara Corcoran saw something special in Luna Magic. She was impressed by the founders’ unwavering determination and the quality of their products.
Recognizing their potential, she extended a unique offer: a $250,000 credit line in exchange for 30% equity in the company.
This offer provided Luna Magic with the financial flexibility they needed to grow while giving Corcoran a significant stake in their future success.
The Deal
The Frías sisters were thrilled by Barbara Corcoran’s offer, but they also knew the importance of careful negotiation. They expressed their desire to retain more ownership in their company.
However, they also recognized the immense value that Corcoran’s expertise and network could bring to their brand.
1. Negotiation and Acceptance
After a brief discussion, the sisters ultimately decided to accept Corcoran’s offer. They understood that her guidance and support could be instrumental in taking Luna Magic to the next level.
They were willing to sacrifice a larger equity stake in exchange for the opportunity to work alongside a seasoned entrepreneur and gain access to valuable resources.
2. The Partnership with Barbara Corcoran
The partnership between Luna Magic and Barbara Corcoran proved to be a fruitful one. Corcoran’s mentorship and business acumen helped the Frías sisters navigate the complexities of the cosmetics industry.
They were able to expand their product line, secure new retail partnerships, and significantly increase their brand awareness.
3. Post-Shark Tank Growth and Success
Luna Magic’s appearance on Shark Tank and subsequent partnership with Corcoran catapulted the brand into the spotlight.
Their sales skyrocketed, and they gained a loyal following of customers who resonated with their mission of inclusivity and affordability.
The brand’s success is a testament to the power of a compelling vision, hard work, and the right mentorship.
Luna Magic Update
Since their Shark Tank appearance, Luna Magic has continued to flourish. They have expanded their product line, strengthened their brand identity, and made a positive impact in the beauty industry.
1. Current Product Offerings and Expansion
Luna Magic’s product range has grown significantly since their time on Shark Tank. They have introduced new eyeshadow palettes, lipsticks, highlighters, and other cosmetics.
Their commitment to inclusivity remains strong, with an even wider selection of shades to cater to diverse skin tones.
They have also expanded their retail presence, making their products more accessible to customers across the country.
2. Brand Mission and Impact
Luna Magic’s mission goes beyond just selling cosmetics. They aim to empower women and celebrate their unique beauty.
Their brand message resonates with customers who are looking for products that reflect their individuality and make them feel confident.
Luna Magic has also made a positive impact by donating a portion of their proceeds to organizations that support women’s empowerment and education.
3. Future Plans and Goals
The Frías sisters have ambitious plans for the future of Luna Magic. They envision their brand becoming a household name in the beauty industry.
They are constantly innovating and developing new products to meet the evolving needs of their customers.
They also plan to expand their international presence and continue their philanthropic efforts. The future looks bright for Luna Magic as they continue to inspire and empower women through beauty.
FAQs
What is Luna Magic?
Luna Magic is a vibrant cosmetics brand that offers high-quality, affordable beauty products for diverse skin tones.
Who are the founders of Luna Magic?
Luna Magic was founded by sisters Mabel and Shaira Frías.
What products does Luna Magic offer?
Luna Magic offers a range of cosmetics including eyeshadow palettes, lipsticks, highlighters, and more.
What deal did Luna Magic make on Shark Tank?
Luna Magic accepted a $250,000 credit line from Barbara Corcoran in exchange for 30% equity in the company.
How has Luna Magic grown since Shark Tank?
Luna Magic has experienced significant growth since Shark Tank, expanding their product line, increasing their retail presence, and building a loyal customer base.
The Bottom Line
Luna Magic’s journey exemplifies the power of passion, perseverance, and a strong business vision. Their success on Shark Tank and beyond serves as an inspiration to aspiring entrepreneurs everywhere. The brand’s commitment to inclusivity, quality, and affordability has resonated with customers, propelling them to new heights in the beauty industry. With their unwavering dedication and innovative spirit, Luna Magic is poised to continue making a lasting impact in the world of cosmetics.
