Fur Oil Shark Tank Update |Fur Oil after the Shark Tank
What is Fur Oil?
Fur Oil is a hair moisturizer made from a blend of tea tree, jojoba, grapeseed, and clary sage seed oil. As a result, Fur Oil will assist you in maintaining the natural state of this region of the body.
Fur positions itself as a self-care company that seeks to break down barriers and taboos around body hair conventions by treating your nether regions.
Fur oil, the main product, is created with facial-grade oils and vegan, cruelty-free, and non-toxic substances. It is soft enough to use on hair from the top of your head all the way down there.
Fur Oil is intended to soften hair and prevent ingrown hairs. It also aids in keeping the skin smooth and hydrated.
The self-care brand offers items that cater to a wide range of consumers with varying grooming and hairdo tastes. Fur oils and serums, stubble cream, salt scrubs, and other products are available to customers.
Who is the Founder of Fur Oil?
Laura Schubert and Lillian Tung are the Fur LLC’s creators and proprietors, with Laura serving as Chief Executive Officer (CEO) and Lillian serving as Chief Marketing Officer (CMO).
The two ladies have been friends since middle school and attended Columbia University for undergraduate and graduate school together.
Laura saw a business possibility after discussing the hardships and tribulations of grooming pubic hair with her sister in 2014, and she began researching solutions that aid with conditioning and relaxing hair in the genital area she began making phone calls and was handled as though she were a hoax caller.
She knew who to call when she decided on a formula for her “intimate hair care” brand. Laura was a consultant at Bain Capital at the time, while Lillian worked at L’Oréal.
Fur was created by two pals who came together.
Fur Oil was the original product, a blend of grape seed oil, jojoba oil, clary sage oil, and tea tree oil that prevents ingrown pubic hairs and conditions hair for people who prefer a more “natural look.”
The product line, along with the popularity of the notion of “intimate grooming,” has increased.
In addition to the original oil, they now manufacture stubble cream (to prevent ingrown hair), bath beads, shaving cream, scrubs, wipes and more.
A 14 ml bottle of Fur’s original oil costs $26. They sell on Amazon as well as their website.
What happen to Fur Oil at the Shark Tank Pitch?
Laura and Lillian go on Shark Tank season 11 episode 13 in order to obtain $500,000 in exchange for a 2.5 percent stake in their business. This indicates a valuation of $20 million.
They describe their operation and distribute samples. The Sharks are pleased with their sales: $5 million in the last year; but, they are not pleased with the valuation.
They go on to discuss how their product gained popularity following actress Emma Watson’s endorsement.
Schubert and Tung disclosed that their flagship product, Fur Oil, costs $5.34 to manufacture and sells for $46 a bottle.
Regardless of the price, some Sharks are interested.
Daymond offered Fur the $500,000, but the stock portion is far too low to pique his interest. He requests a 15% stock stake in exchange for his investment. His ambition for Fur is to explore licensing opportunities.
Kevin O’Leary pledged $500,000 in exchange for a royalty of $1 each bottle until he makes $1 million, at which point he will discontinue the royalty but retain a 2.5 percent equity stake in the company.
Lori Greiner offered $500,000 in exchange for 12% stock, but she also want to contribute $50,000 to a foundation that helps individuals feel better about their bodies regardless of their shape or size.
Shark Guests Maria Sharapova expressed her admiration for the entrepreneurs, having previously invested in beauty business Supergoop.
However, she declined, stating, “I feel as though I need so much more skin in the game just to feel passionate about what I’m doing.”
“There is a great deal of work to be done, and 2.5 percent is simply insufficient,” Sharapova explains her withdrawal.
With three proposals in hand, Schubert asked the Sharks whether any of them would consider a 5% stake instead. All three Sharks who made initial proposals rejected the counteroffer, claiming that 5% was too low.
John countered, stating that he was willing to reduce his stock stake from 15% to 10%. However, with Schubert and Tung continuing to reject his offer, he felt compelled to follow his gut instinct.
“I’m beginning to doubt that we’d make excellent partners,” John stated before announcing that he was withdrawing from the transaction.
Greiner made her final offer, this time for $500,000 in exchange for 8% equity and $50,000 to be used for charity purposes.
After receiving proposals from three Sharks, it appeared as though Schubert and Tung were still unwilling to give up additional shares in their company.
Finally, after John withdrew, leaving only O’Leary and Greiner as potential Sharks, the co-founders chose Greiner’s offer of $500,000 for 8% equity and $50,000 to a body positivity organization, which they adored.
Fur Oil after the Shark Tank
Fur saw a spike in sales following the Shark Tank episode’s airing, which is typical of the “Shark Tank effect” observed by the majority of products featured on the show.
Lori’s contract was never completed. The company is still operational, and their products are available on Amazon.
As of March 2020, the ladies had secured placements for their product at Goop, Revolve, Neiman Marcus, Credo, Free People, and Urban Outfitters.
They generated $1 million in annual income as of June 2021.
Fur Oil Net Worth
Before appearing on Shark Tank, the co-founders asked for $500,000 from investors in exchange for 2.5% of Fur, valuing the brand at $20 million. However, by accepting Lori Greiner’s $500,000 offer for an 8% equity stake in Fur, the owners effectively reduced their valuation to $6.25 million.
Fur Oil Competitors
There is no competitor identified for Fur Oil.
Fur Oil FAQS
What is Fur Oil?
Fur Oil is a hair moisturizer made from a blend of tea tree, jojoba, grapeseed, and clary sage seed oil. As a result, Fur Oil will assist them in maintaining the natural state of this region of the bod.
Who is the founder of Fur Oil?
The co-founders are Laura Schubert and Lillian Tung. They met in high school and have been friends since that time.
How much was they asking in the Shark Tank?
The co-founders were hoping to obtain $500,000 in exchange for 2.5% of Fur Oil, which would have valued the brand at $20 million.
Did they get the deal?
They did. Lori invested $500,000 in exchange for 8% of the company’s equity and $50,000 to a foundation that supports body positivity.
Is Fur Oil still in business?
Fur Oil is still in business, and the products are available on Amazon and their website.
When was Fur Oil aired on Shark Tank?
Fur Oil was featured on season 11 episode 13 of Shark Tank which was aired on February 28, 2019.
Where can they buy Fur Oil?
Fur’s products are still available in over a thousand stores across the United States, including 600 Ulta Beauty locations.
Urban Outfitters, Free People, Goop, and Neiman Marcus are among the other retailers.
Fur products can be purchased online through Amazon and their official website.
How is fur doing after Shark Tank?
The company is still in operation, and they can purchase their products on Amazon.
As of March 2020, the ladies’ product was available at Goop, Revolve, Neiman Marcus, Credo, Free People, and Urban Outfitters.
They had a $1 million annual revenue as of June 2021.
What is Fur Oil ingredients?
Fur Oil is an all-natural product with four main ingredients, according to Lillian Tung, co-founder of Fur: jojoba oil (to soften the hair and moisturize the pubis), grapeseed oil (for hydration), tea tree oil (to prevent ingrown hairs), and clary sage seed oil (to reduce redness and irritation).
Does Fur Oil soften pubic hair?
Fur Oil was created specifically for pubic hair and skin, with a signature blend of lightweight oils that gently softens hair and clears pores for fewer ingrowns and healthier skin.
No matter how they choose to groom, regular use will make their skin less prone to ingrown hairs and irritation.
Does fur oil have essential oils?
While Fur products do not contain any artificial fragrances, some do contain lavender oil, clary sage oil, and tea tree oil.
When these essential oils are applied, they leave a natural scent that usually dissipates after a few minutes.
Can they put fur oil on their face?
Fur Oil is ideal for use anywhere hair meets skin, such as the underarms, chest, legs, face, or pubic area. It leaves no residue behind, and the scent fades and absorbs quickly.
For the best results, use Fur Oil on a daily basis for softer skin and hair, as well as fewer ingrown hairs over time.
Does Fur Oil actually work?
Fur Oil can be used as an all-over hair conditioner: apply it to itchy or dry beards, head hair, and body hair for noticeably softer texture.
For an all-over moisturizer, add a few dropperfuls of Fur Oil to the bath. A few drops of Fur Oil applied to incision scars will help to reduce redness and inflammation.
Is fur oil free of cruelty?
They are not tested on animals! No phthalates, parabens, sulphates, silicones, cortisones, artificial dyes, or fragrances are used in fur products.
Does fur oil stain clothes?
Fur Oil leaves no residue and the relaxing scent fades quickly. Because the oil dries quickly, it will not stain their silk. When to use it: They recommend using Fur Oil as part of their daily ritual for the best results.
Are their products’ ingredients clean?
Yes! They only use natural, clean ingredients. There are no phthalates, parabens, sulphates, silicones, cortisones, artificial dyes, or fragrances in fur products. They are also vegan and gluten-free.
Is Fur safe to use while pregnant and breastfeeding?
Fur has not been tested for use during pregnancy or breastfeeding. Before beginning any new beauty regimen, they recommend that they consult with their doctor.