What Happened to Makeup Junkie Bag After the Shark Tank Pitch?
What is Makeup Junkie Bag?
The Makeup Junkie Bag is a cosmetic bag that lies flat, allowing for easy and total access to all contents while reducing the possibility of the bag collapsing and spilling goods everywhere.
Makeup Junkie Bag bags are all handcrafted in Texas and can be found in over 2,000 retailers around the country.
The Makeup Junkie Bag comes in four sizes: tiny, small, medium, and large, as well as a range of colours and designs such as Bordeaux Velvet, Slate Geometric, Fiesta Floral, Holographic Gator, and Two-Faced Bridal.
Aside from cosmetic bags, the company also sells totes, backpacks, crossbody bags, and other accessories, as well as a limited range of cosmetics and clothing under the Makeup Junkie label.
Who is the Founder of Makeup Junkie Bag?
Meredith Jurica founded the company in January 2017.
Meredith has kept her home and professional lives apart.
She stated she received a master’s degree in speech language pathology from Texas Woman’s University before going into business for herself.
She is still the Chief Executive Officer of Makeup Junkie Bags, which is based in Houston.
They are cherished by the women who own them. Some individuals use it as a cosmetics bag, while others use it as a clutch handbag for a night out.
It has enough room for cosmetics, a cell phone, and a few other items.
The design and logo of Makeup Junkie Bag are both copyrighted and registered.
The bags come in a variety of colours and designs and cost roughly $32 each.
While Makeup Junkie Bags may be purchased on Amazon and the company website, MJ is constantly looking for wholesale partners
What happen to Makeup Junkie Bag at the Shark Tank Pitch?
Meredith entered the business and demands $200,000 for a 15% share. This translates with a $1.3 valuation.
Meredith explains that she is debt-free and has made $1.5 million in sales since releasing the product and handing out samples a year and a half ago.
She wants a Shark so she can improve her productivity from the current 6,000 bags per month.
The Sharks have made three offers. The first is a $200,000 loan from Lori in return for a 5% plus a $1 royalty per bag in perpetuity.
Kevin then offers $200,000 in return for a 3% royalty and a $1.50 charge each bag, for a total of $750,000.
Sara proposes a $200,000 payment in return for a $1 royalty on each bag sold until the loan is repaid.
Meredith accepts Lori’s offer when Lori offers to cut the price to 0.75 percent each bag.
What Happened to Makeup Junkie Bag After the Shark Tank Pitch?
Lori’s contract never got finished.
Lori appeared to want to manufacture overseas, whilst Meredith wanted to keep her firm in Texas.
Meredith’s products will be sold in over 2000 sites across the country by June 2021. Annual revenue is in the $2 million range.
What is the Net Worth of Makeup Junkie Bag?
The net value of the company is believed to be more than $10 million.
Who are the Competitors of Makeup Junkie Bag?
Makeup Junkie Bag does not have a competition.
Makeup Junkie Bag FAQS
Who owns Makeup Junkie Bags?
Makeup Junkie Bags was founded in Meredith Jurica’s kitchen.
According to the self-proclaimed cosmetics junkie, the idea occurred to her when she couldn’t find a handy makeup bag.
Her designs are water-resistant, lay flat, and have enough of space. “This one has twenty cosmetics,” Jurica says.
Can Makeup Junkie Bags be washed?
They’ve all gotten cosmetics, perfume, and granola bars in their bags.
Because the interior of Makeup Junkie Bags is washable, all they have to do is go down there with a damp towel and wipe the bag out.
There will be no stranger crumb kingdom residing in their favourite object.
Where are Makeup Junkie Bags manufactured?
Makeup Junkie Bags are handmade in Texas and are available in over 2,000 stores globally. They come in over 400 stylish styles and seven different sizes.
When did cosmetics addict make an appearance on Shark Tank?
Makeup Junkie Bags, created by Meredith Jurica of Willis, Texas, is a line of lay-flat cosmetic and travel bags.
The entrepreneur offered her million-dollar enterprise on Shark Tank in January 2019. She contacted the Tank in pursuit of a $200,000 investment in exchange for 15% ownership.
What should they fill their Makeup Bag with?
Here are some ideas for products to put in their beauty bag, but they are free to include whatever they choose.
Makeup, make-up remover, lip gloss/chappstick, nail polish, pedicure set, lotion, and sunscreen are all included.
How do they clean make up from Makeup Bag?
Clean out their makeup case. If they use one of their bags, simply wipe it with a soapy sponge and a rubbing alcohol cloth.
Allow to air dry completely. If they use a cotton cosmetic bag, wash it in hot water to kill bacteria.
How often should they wash their Makeup Bag?
Consistency is essential. They recommend deep cleaning any cosmetic or wash bag that is used on a regular basis once a month, followed by a weekly spritz of antibacterial spray, and always ensuring the interior of the beauty bag is totally dry before zipping it back up.
Can they put Makeup Bags in the washing machine?
A cotton make-up bag may be washed by hand or machine.
Assure that it is air dried, since the heat from a tumble dryer might be harmful.
Finally, make sure their cosmetic bag is totally dry before reintroducing it; otherwise, bacteria may spread.
What are weaknesses of Makeup Junkie Bag?
Meredith said on the ABC show that she was unable to make as many bags as she needed to sell owing to the high cost of manufacturing materials.
What are Makeup Junkie Bag strengths?
Affordably priced, elegant, and entertaining.
How do they make money?
Makeup Junkie Bags, according to the founder, just create and sell the bags.
Where is Makeup Junkie Bag located?
They are in the state of Texas.
How long have they been in business?
Makeup Junkie Bag has been in operation since January 2017.
What is the price of the Makeup Junkie Bag?
The bags are about $32 apiece.
How can they get a Makeup Junkie Bag?
They may buy them from their website as well as Amazon. They may also follow the firm on Facebook, Instagram, and Twitter.
How to contact Makeup Junkie Bag?
They may be reached through their Facebook, Instagram, and Twitter sites, where they post images of their items and future discounts. The site also includes a variety of contact information.