What Happened to CreaProducts After Shark Tank?
What is CreaProducts?
CreaProducts are clips that allow consumers to give themselves a salon-quality, layered hair cut at home.
CreaProducts use a clip system that appropriately combs and distributes the hair, as well as a lock that locks it in place when cutting.
CreaProducts was founded in 2012 by Mai Lieu. The CreaClip, a Lieu core product and innovation, enables users to give themselves a salon-quality, layered hair cut at home.
She uses a clip system that combs and distributes the hair evenly, as well as a lock that locks it in place as you cut.
Who is the founder of CreaProducts?
CreaProducts was founded in 2012 by Mai Lieu. The CreaClip, a Lieu core product and innovation, enables users to give themselves a salon-quality, layered hair cut at home.
Lieu also sells a variety of other products. Her CreaNails nail stencils are made to fit over your fingers and prevent unwanted nail paint from getting all over your fingertips.
CreaLash is a little shield that keeps mascara from getting on unsightly parts of the face, which she successfully funded on Kickstarter in 2014.
She also sells Risqué, which is lacy, seductive slip-on foot stockings described as “lingerie for your feet.” Lieu’s products have taken over the cosmetic accessory industry, and she now has international distribution. Her products are available in dozens of countries through her website and Amazon.
What Happened to CreaProducts’ pitch on Shark Tank?
In Season 7 episode 27 of Shark Tank, author, speaker, and entrepreneur Mai Lieu introduces the Sharks to her globally successful firm, CreaProducts. She wishes to enlist the services of a Shark to help her take her company to the next level.
Mai entered the Shark Tank seeking for $200,000 for 10% stake in her firm, which worth $2 million.
She cuts her own bangs and hair with the CreaClip while the Sharks look on, doubtful, until she finishes, confirming that the clips function perfectly.
She then gives away free samples of her other products, such as CreaNails stencils and CreaLash. Kevin O’Leary, one of the Sharks, inquires about sales so far.
CreaClip, Mai’s main product, has sold $500,000 in the last year. She has 30,000 subscribers on YouTube and 20 million views. After her video went viral, she sold 150,000 units in a single week.
The CreaClip retails for $30. Both CreaNails and CreaLash cost $24.99. Her product line has a 66 percent profit margin.
Robert Herjavec was moved by Mai’s story. His father was a refugee as well, and he feels that “nothing I will ever do will be as tough as what he achieved.” Robert believes he isn’t the best match for Mai, so he exits.
Mark Cuban follows suit, alleging that he, too, was out and that he was not the right partner.
Hair products, according to Kevin O’Leary, are not a brand he can sell. Barbara Corcoran and Lori Greiner were the last remaining Sharks.
The two female Sharks discuss whether or not to make a deal. Barbara quips that she’s willing to accept a full price offer from Lori, which was unusual in the Tank.
Barbara says she doesn’t “see room for an investor” in the product and that, while she wishes Mae luck and hopes she succeeds, she isn’t making an offer.
Lori was the sole survivor of the Sharks. She offers $200,000 in return for 25% of the company’s shares. She thinks some engineering work was necessary.
Mai replies with $200,000 for 20% stake, but Lori only meets her halfway, at $200,000 for 22.5% equity. Mai accepts the deal and exits the pitch.
What Happened to CreaProducts After Shark Tank?
After the show aired and Mai exited with a deal, the deal with Lori was never closed, but the Shark Tank effect raised CreaProducts’ sales by 5000%.
Mai was featured as the model for Honokaa in a 2017 calendar, and she visited Canada in August 2016 on a speaking tour. Mai is continually growing her business and online presence.
Her self-help hair cutting and cosmetics application products enable her to assist her parents, a goal she has set for herself. The company is still in business as of January 2022, with annual revenue of $3 million.
CreaProducts’ Competitors
The CreaClip and comparable items’ rivals include a variety of haircutting devices such as hair cutting kits and home haircutting manuals.
CreaProducts’ Net Worth
During the pitch, the firm was valued at $2 million; since then, the company has performed successfully, with yearly revenues of $3 million in 2021.
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CreaProducts FAQs
What ingredients do the products contain?
The CreaClip, CreaNails, and CreaLash products all use 100% biodegradable, non-toxic ingredients.
Who invented the CreaClip?
The CreaClip was invented by Mai Lieu, a senior engineer and entrepreneur from Montréal, Canada.
What does CreaProducts do?
CreaProducts creates and sells products that work to help people with their self-esteem, improve their looks, and make the world a better place. The CreaClip is the company’s flagship product.
How much does CreaProducts cost?
The CreaClip retails for $30 and the CreaNails and CreaLash products available on the website cost $24.99.
How much money has CreaProducts raised?
The company rose over $1 million in a Kickstarter campaign in 2014, which was followed by a pre-sale through Indiegogo that rose over $100,000. Since then, it has become a wildly successful company.
How do I use the CreaProducts?
The CreaClip is easy to use! Simply clip it onto the hair, choose one of the three layers, and start clipping. The layers are marked by color—red, purple, and blue—so one can ensure that each layer is even. It’s so easy!
What does CreaProducts look like?
The CreaClip is a small, lightweight, handheld device that looks like a pair of scissors. It is available in five colors—pink, purple, green, yellow, and blue.
Does CreaProducts work?
Yes! The product works very well at layering hair and giving it extra volume.
Who is CreaProducts for?
CreaProducts is for both men and women. The CreaClip is perfect for those wanting to get rid of the rat’s nest on their hair and those who just want to add some extra volume.
Where is the CreaProducts being sold?
The CreaClip has become very popular in several countries, including Canada and France, reflecting the popularity of its inventor.
Who is the CreaProducts designed for?
The CreaClip is designed for all hair types (long, medium, curly and frizzy), which means that anyone can use it.
How do I know if I should use the CreaClip?
Anyone can use the CreaClip because it’s not attached to any specific hair type. The product works very well on short hair, long hair, and in between lengths of long hair.
Does the CreaProducts come with any instructions?
Yes! The CreaClip comes with two sets of guides. The first set is the layer guide, which helps ensure that each layer is even (and to brilliant results!). The second is a hair removal guide. It explains how to remove the CreaClip, so they can use it again and again!
