CreaProducts Shark Tank Net Worth 2023
CreaProducts was valued at $2 million during the Shark Tank pitch. Since then, the company has been performing well with yearly sales of $3 million. Mai Lieu, the founder of CreaClip, has a net worth of $3 million as of 2022.
In the past year, Mai has sold $500,000 worth of CreaClips, her main product. She has 30,000 followers on Youtube and 20 million views. The deal with Lori never closed but the Shark Tank effect rocketed Crea Products‘ sales by 5000%.
Based on these search results, it is impossible to determine what CreaProducts’ net worth will be in 2023.
However, given that the company’s yearly sales have been increasing since its appearance on Shark Tank and that Mai Lieu’s net worth is expected to increase in the future, it is possible that CreaProducts’ net worth will also increase by 2023.
What is CreaProducts? Who is the founder of CreaProducts?
CreaProducts offers a clip system that enables users to achieve a professional, layered haircut at home. Mai Lieu established CreaProducts in 2012 and introduced the CreaClip, the company’s flagship product. This clip system effectively combs and distributes hair, and a lock holds it securely in place during cutting.
In addition to the CreaClip, Lieu also sells other beauty accessories. The CreaNails nail stencils, which fit over the fingertips, prevent unwanted nail polish from spreading.
CreaLash, a shield that prevents mascara from smudging onto unwanted areas of the face, was successfully funded on Kickstarter in 2014. Lieu’s Risqué product is a lacey, sensual slip-on foot stocking, likened to lingerie for the feet.
CreaProducts has made a significant impact in the beauty accessory market and now has a global presence. The company’s products are available in many countries through its website and on Amazon.
CreaProducts Shark Tank Pitch
Mai Lieu, an entrepreneur, author, and speaker, appeared on the 27th episode of season 7 of Shark Tank to present her successful brand, CreaProducts, to the Sharks. Mai sought the help of a Shark to take her business to the next level.
During her presentation, Mai demonstrated the effectiveness of her product, the CreaClip, by cutting her own hair and bangs using the clip while the Sharks watched skeptically.
Mai also distributed free samples of her other products, the CreaNails stencils and CreaLash. The Sharks were impressed by her products, and Kevin O’Leary inquired about her sales figures.
Mai revealed that her primary product, the CreaClip, had generated $500,000 in sales in the previous year, with 150,000 units sold in a single week after her video went viral.
She had 30,000 YouTube subscribers and 20 million views. The CreaClip retails for $30, while CreaNails and CreaLash cost $24.99 each, and Mai’s profit margin on the product line was 66%.
Robert Herjavec found Mai’s story particularly compelling since his father was also a refugee. However, he did not believe he was the right partner for Mai and went out, followed by Mark Cuban.
Kevin O’Leary stated that he could not market hair products and went out, leaving only Barbara Corcoran and Lori Greiner.
Barbara did not make an offer, stating that she did not see a place for an investor in Mai’s product. Lori made an offer of $200,000 in exchange for 25% equity in the company.
Mai countered with an offer of 20% equity for the same amount, and Lori eventually settled on 22.5% equity for $200,000. Mai accepted the offer and left the Tank with a deal.
Although the deal with Lori did not materialize after the program aired, the Shark Tank effect resulted in a 5000% increase in CreaProducts’ sales.
Mai continued to expand her company and internet presence and even appeared as a model for Honokaa in a 2017 calendar. She visited Canada on a speaking tour in August 2016.
As of January 2022, her company was still in operation, generating annual revenue of $3 million, allowing Mai to fulfill her ambition of supporting her parents with her self-help hair cutting and cosmetics application products.
Competitors of CreaProducts
The competitors of the CreaClip and similar products include a variety of hair cutting products like hair cutting kits, and home haircutting guides.
Net Worth of CreaProducts
The company valuation was $2 million during the pitch, since then the company has been performing well with yearly sales of $3 million in 2021. This justify that the company net worth had elevated.
CreaProducts FAQs
What is CreaProducts?
CreaProducts are clips that allow users to give themselves a salon-quality, layered hair cut in the comfort of their own home.
CreaProducts use a clip system that properly combs and distributes the hair, as well as a lock that keeps it in place as you cut.
Who is the inventor?
Mai Lieu invented CreaProducts in 2012. The CreaClip, Lieu staple product and innovation, allows consumers to give themselves a salon-quality, layered hair cut in the comfort of their own home.
How much was she asking on Shark Tank?
Mai was asking for $200,000 for 20% stake of her company on Shark Tank.
Did she have the deal?
Yes, she did from Lori Greiner.
How much was the deal?
Lori Greiner offered $220,000 for 22.5% equity shares of the company.
Is CreaProducts still in business?
They are still in business as of January 2022 with annual revenue of $3 million.
What sizes does CreaProducts come?
The CreaClip is available in two sizes. The smaller size is ideal for cutting bangs and men’s and children’s hair. The bigger, curved design is ideal for layering and long hair.
With both in the set, users may build an infinite number of hairstyles. For the most up-to-date styles and methods, please visit our YouTube channel and watch our free instructional videos.
Does CreaProducts shipping?
CreaProducts ships worldwide for $9.95 shipping and handling per order.
What is the return policy of CreaProducts?
Every CreaClip comes with a 100% money back guarantee which allows customers to return their order if they are not happy with their results.
How much is the refund?
The company will refund their order to them via PayPal within 30 days after receiving their return.
Which payment option does CreaProducts accepts?
CreaProducts accepts all credit cards, including American Express, Discover, Master Card, and Visa.
Is CreaProducts good product?
CreaProducts has received positive reviews, with customers calling their experience “easy” and complimenting the quality of the cut. Customers also report that they save a lot of money by avoiding salon visits.
Is CreaProducts worth it?
Yes, according to customer reviews, CreaProducts can be very useful for cutting hair at home.
How do I contact CreaProducts?
Customers may contact CreaProducts via email [email protected], telephone +1 808-498-0428, or by social media (Facebook, Twitter, and YouTube).
What is CreaProducts website?
CreaProducts is http://www.creaproducts.com.
What is the net worth of Mai Lieu?
Mai Lieu’s net worth is unknown.
