What Happened to Luna Magic After Shark Tank pitch?
What is Luna Magic?
Luna Magic is a cosmetics, skin care, and personal care company known for its colourful colour palettes and hue diversity.
Makeup, faux mink and mink false lashes, fragrance, vegan nail polish, Latina pride t-shirts, and a variety of accessories, such as face masks and hair clips, are now available.
In their cosmetic line, they include eyeshadow palettes, lip gloss, liquid lipstick, bullet lipstick, blush, highlighter, and more.
Who founded Luna Magic?
Luna Magic was created by Mabel and Shaira Frias, sisters.
Mabel earned a B.A. in History from New York University and an M.A. in History of Decorative Arts and Design from Parsons School of Design.
After graduating from high school, she worked in retail and e-commerce before launching Luna Magic. Shaira hasn’t shared much about her past before to Luna Magic, other than the fact that she studied Broadcast Journalism at CUNY-Brooklyn College.
We founded Luna Magic Beauty in 2019 after years of experience in the beauty industry.
Luna Magic Beauty arose from a desire to develop a vibrant, colourful beauty and lifestyle brand that celebrates our ethnic backgrounds and women of all colours and ethnicities. Mabel struggled to persuade huge firms to embrace the bright colours she intended for her makeup.
She approached her sister in early 2019, and the two of them formed a corporation together.
The girls, who were raised in New York by Dominican parents, wanted to launch a cosmetics line that would appeal to all Latinas and cultural aficionados.
They named the firm after their mother, who passed away just as they were about to start it.
In May 2020, the company was awarded a Glossier Grant, an honour developed by the billion-dollar cosmetics company particularly for black-owned beauty enterprises.
They were one of 16 “winners” chosen from over 30,000 applicants.
The Frias sisters seek to capitalize on the $35 billion spent on cosmetics by African American and Latina women each year.
The brand sells eye shadow, lipstick, brushes, false eyelashes, and other cosmetics.
The colours are bright and fun, and the pricing are comparable to well-known name-brand cosmetics.
They can be found on Amazon, Walmart, and other shops, but they’d want to hire a Shark to help them develop their “Latin Vibe” business.
What Happened to Luna Magic at the Shark Tank pitch?
Mabel and Shaira are seeking $200,000 for a 10% ownership in their company.
The Sharks are impressed by the sisters’ over 1000 stores and are negotiating end caps with Walmart.
The women claim they need the help of a Shark to help them with logistics.
The Sharks take pride in the fact that they have $157,000 in cash and are debt-free.
Due to a conflict of interest, Lori and Alex are unable to invest.
Barbara is the only one who has made a proposal. She plans to fund all purchase orders with a $250,000 line of credit at 30% interest.
The sisters are ready to accept.
What Happened to Luna Magic After Shark Tank pitch?
The first re-run of this episode was in March 2021, little than two months after it first aired. There are no indications that this arrangement will be terminated at this time.
My intuition tells me it didn’t since it was such a low-ball offer.
On the Luna website, the sisters write, “Despite our worries, we successfully pitched Luna Magic Beauty and went away with an offer.
Luna Magic Beauty is looking forward to receiving further exposure, strategic advice, and mentoring from our investor, and you can discover Luna Magic Beauty in Walmart stores and on Walmart.com.”
They claim to have departed with an offer instead of a contract. As of July 2021, the deal with Barbara does not appear to have been completed.
Luna Magic Net Worth
After accepting the offer, Luna Magic’s net worth was $833.333.
Luna rivals are affiliated with other successful firms such as Sephora, Dior, MAC, and so on.
Who are the Competitors of Luna Magic?
There are no competitors identified for Luna Magic.
Luna Magic FAQS
Is Luna magic still in business?
Currently, Luna Magic is co-owned by the sisters, neither of whom has shown a desire to sell, and brand recognition and sales growth are increasing as a consequence of their carefully maintained social media presence and favourable news coverage.
Did Luna Magic get a shark tank deal?
Yes, Barbara Corcoran does have a deal for Luna Magic.
Is Luna magic vegan?
To liven up their nails, use their 100% vegan and non-toxic polish formula! Please coat each nail finger with their favourite base coat, polish formula, and top coat for the best results.
How do they use the Luna magic primer?
Apply the pink primer on their lashes and wait 10-15 seconds before applying their favourite mascara for a light and fluffy eyelash effect.
If they wait for the primer to dry, the mascara will be lumpy and thick.
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What is Luna magic?
It’s a vivid beauty and lifestyle brand that honours their global roots as well as women of all colours and backgrounds.
When was Luna Magic aired on Shark Tank?
It broadcast on January 15, 2021.
Which episode was Luna Magic aired on Shark Tank?
It was episode 10 of Season 12.
Is Luna magic makeup cruelty free?
They designed a high-quality selection of 100 percent faux mink lashes according to popular demand to spice up their life. Vegan, cruelty-free, and gluten-free lashes are all available.
Who owns Luna makeup?
Mabel and Shaira Frias are the Afro-Latina cosmetics queens behind the colourful Luna Magic brand.
Where is Luna Magic located?
Luna Magic is headquartered in Los Angeles.
What is the price range of Luna magic?
Prices for Luna Magic Cosmetics range from $8 to $30. They are available on Amazon and
Walmart.com.
