However, there really was no need for an investor. In just a few months after their appearance on Shark Tank, the company’s online sales went up by hundreds.Īs far as we know, they didn’t finalize their deal with Mark and Lori. Manscaped has since seen impressive growth in both sales and profits.Īppearance on live TV does its magic and Manscaped has become one of the most popular brands in its category. They left with an investment of $ 500K for 25% equity and the show gave them a lot of exposure. So Josh and Steve’s appearance on Shark Tank was a success. After a lot of negotiations, the deal is sealed and Manscaped leaves Shark Tank with an investment of $ 500k for 25% equity. Kings try to counter Lori and Mark’s offer but ultimately decides to accept it. Mark even considers teaming up with Lori to invest together. Lori too likes the idea, and so does Mark. Robert has done some manscaping in the past and he feels a potential in this product, so he offers $ 500,000 with 35% equity. Kevin doesn’t think it’s the right time to invest since their model isn’t 100% polished yet so he backs out. Sharks were astonished by this number and started to consider investing in the company. This helped them to achieve a customer acquisition rate of for each dollar spent on advertising. Kings spend most of their money on marketing and social media promos. The profit margin is attractive and the sharks started to become more interested and decided to make them an offer. The grooming kit costs only $ 12 to make and they sell it for $ 51. Sharks were startled by this figure and asked for more specifics about the company’s growth potential. In the year of 2017, they earned $ 1,5 million in annual sales. They asked questions about marketing strategies and sales figures, which Steve and Josh managed to answer satisfactorily. The Sharks were impressed, but they weren’t sure if there was a real market for the products. They give the sharks samples to check out and claim that at least 73% of men manscape. Sharks were entertained by the presentation and were interested in this innovative company with a unique concept. They then showed the Sharks their product line and demonstrated how it works. The duo started to explain their story and how women would appreciate it if men took more time grooming themselves. Steve and Josh entered the pitch asking for a $ 500,000 investment in exchange for 7% equity. They were hoping one of the Sharks would invest in their business and help them take it to the next level. However, they wanted to grow their business even further, which is why they decided to appear on Shark Tank. This helped the company gain recognition from both men and women across the globe. They also spend some of the money on marketing and have been featured in several popular magazines and online publications, including Playboy, GQ, and BuzzFeed. This was all thanks to a generous investor, who believed in their mission and gave them the resources needed to create a successful product line. The Kings duo started the company with a $ 400,000 investment from kind investors and had grown to a multi-million dollar business before they went on Shark Tank in 2018. As such, Manscaped was able to make manscaping an overall safer and more pleasant experience. This innovative design also allows for a closer shave, resulting in fewer nicks and cuts. It is specially designed to mitigate the risk of cuts, nicks, and ingrown hair that can occur when manscaping with a standard razor.Ī plow razor that is inside every Manscaped product is designed to reduce the risk of irritation and is ideal for use on curly hair. What made Manscaped unique was the SkinSafe technology they implemented in their products. They provide an all-in-one grooming package to make manscaping easier than ever before. While the products are mainly designed to be used on the body below the waist level, the company also offers face and head-shaving products. They began developing their own line of grooming products specifically designed for male body hair, including trimmers, razors, creams, powders, and more. Steve and Josh wanted more men to experience the improved level of comfort and confidence that comes with manscaping. Properly groomed body hair can help reduce sweat accumulation, improve air circulation around your skin, and make you feel more comfortable in your own skin overall. With that said, manscaping is not just about looking good - it’s also about feeling great. The term came into existence in recent years after more men have begun taking an active interest in their personal hygiene and aesthetic appeal. It can involve anything from haircuts and beard trims to waxing or shaving of the chest, back, arm, and leg hair. Manscaping is a term used to describe the practice of hygienically trimming and grooming male body hair.
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