Luna Magic Shark Tank Net Worth 2023
Luna Magic’s founders Shaira and Mabel Frias have a net worth of 1.5 Million USD as of 2022. Luna Magic is still in business and has launched new products. The estimated net worth of Luna Magic is $1.9 million.
The valuation during the pitch was asked for $2 million and later updated to $833,333. There is no indication that the agreement with Barbara Corcoran has closed as of July 2021.
What is Luna Magic? Who founded Luna Magic?
Luna Magic is a brand of cosmetics, skincare, and personal care products recognized for their vibrant color palettes and hue diversity.
Makeup, fake mink and mink false lashes, fragrance, vegan nail polish, Latina pride t-shirts, and numerous accessories such as face masks and hair clips are now available.
They have eyeshadow palettes, lip gloss, liquid lipstick, bullet lipstick, blush, highlighter, and more in their cosmetic range.
Mabel and Shaira Frias, sisters, co-founded Luna Magic.
Mabel graduated from New York University with a B.A. in History and from Parsons School of Design with an M.A. in History of Decorative Arts and Design.
She worked in retail and e-commerce before founding Luna Magic after finishing her school. Shaira hasn’t revealed much about her life before Luna Magic, she say that she studied Broadcast Journalism at CUNY-Brooklyn College.
After years of expertise in the beauty sector, we created Luna Magic Beauty in 2019.
Luna Magic Beauty was born out of a desire to create a bright, vivid beauty and lifestyle brand that honors our ethnic roots and women of all colors and origins.
Luna Magic Shark Tank Pitch
Mabel had a difficult time convincing major corporations to accept the vibrant colors she wanted in her makeup.
In 2019, she teamed up with her sister to create a cosmetics brand that would cater to Latinas and culture enthusiasts, naming it after their deceased mother. The company received a Glossier Grant in 2020 and was one of 16 winners out of 30,000 applicants.
The Frias sisters aim to tap into the $35 billion cosmetics spending of African American and Latina women. Their brand offers a range of vibrant makeup products at reasonable prices and is available on various retail platforms, including Amazon and Walmart.
However, they seek assistance from a Shark to expand their “Latin Vibe” company and are looking for a $200,000 investment for a 10% stake in the firm.
During their pitch on Shark Tank, the sisters impressed the Sharks with their over 1000 stores and discussions with Walmart about end caps.
Lori and Alex couldn’t invest due to a conflict of interest, but Barbara offered a $250,000 line of credit at 30% interest to fund all purchase orders, which the sisters accepted.
The show’s first re-run was in March 2021, and as of July 2021, it appeared that the agreement with Barbara had not yet closed.
Nonetheless, the Frias sisters expressed excitement about the opportunity to gain exposure and mentorship from their investors, and customers can find Luna Magic Beauty at Walmart stores and on Walmart.com.
Luna Magic Net Worth
Luna Magic’s net worth was $833.333, after accepting the offer.
Luna Magic’s competitors are associated with other successful businesses like Sephora, Dior, MAC, etc.
Luna Magic Shark Tank Updates
Luna Magic is a makeup brand designed for Latino women that appeared on Shark Tank Season 12 Episode 10.
The sisters, Shaira and Mabel Frias created the makeup line for Latino women, inspired by the rich cultures and music of the Caribbean & Latin America, the hustle and bustle of NYC, and the glamour of Los Angeles.
They went into the Tank seeking an investment of $200,000 in exchange for 10% equity. They left with a deal with Barbara Corcoran: $250,000 as a line of credit for 30% equity.
Since appearing on Shark Tank, Luna Magic has introduced its “Blend It Girl” collection, which comprises new 5-piece brushes to flawlessly apply its 12 pop colors. They have also added more eyelash variations, specifically making them out of…
Luna Magic hit Walmart shelves only a few months after its launch. However, there is no recent update on the company’s financial performance or future plans.
Summary Table for Luna Magic:
|Founders||Shaira and Mabel Frias|
|Net worth (founders)||$1.5 million USD (2022)|
|Estimated net worth (company)||$1.9 million USD (2023)|
|Products||Cosmetics, skincare, personal care, accessories|
|Target market||African American and Latina women|
|Investment sought on Shark Tank||$200,000 USD for a 10% stake|
|Deal with Shark Tank investor||Barbara Corcoran offered a $250,000 USD line of credit for 30% equity|
|Competitors||Sephora, Dior, MAC, etc.|
|Latest update||No recent financial performance or future plans are available|
Luna Magic FAQS
What Is Luna Magic, Founder, and How Does Luna Magic Work?
Luna Magic is an indie beauty and lifestyle brand founded by sisters Mabel and Shaira Frías. The brand celebrates its multicultural heritage, culture, and music by introducing high-performance cosmetics, bold flavor, diversity, inclusivity, and vibrancy to the beauty industry.
Luna Magic was founded in Los Angeles with a mission to provide high-quality products that cater to all skin tones and types.
The Frías sisters were inspired to create Luna Magic after seeing themselves represented in a few specific brands on the shelves of drugstores.
They wanted to create a brand that would make people feel seen and celebrated, regardless of their skin tone or background. Luna Magic hit Walmart shelves only a few months after its launch.
In 2019, Luna Magic appeared on the hit reality television show Shark Tank. While the sisters did not secure a deal with any of the Sharks, their appearance on the show helped to increase the brand’s visibility and popularity.
Today, Luna Magic continues to grow as a brand that celebrates diversity and inclusivity in the beauty industry.
What Happened To The Luna Magic After The Shark Tank?
Luna Magic is a cosmetics brand that appeared in Season 12 of Shark Tank. The brand is inspired by the rich cultures and music of the Caribbean and Latin America, the hustle and bustle of NYC, and the glamour of Los Angeles.
The founders, Shaira and Mabel Frías, went into the Tank seeking an investment of $200,000 in exchange for 10% equity. They left with a deal with Barbara Corcoran: a $250,000 line of credit for 30% equity.
At the time of their pitch, the sisters had earned $103,000 to date, split up between sales, grants, and a partnership with a subscription box.
Luna Magic is a beauty and lifestyle brand that hit Walmart shelves only a few months after its launch. The brand focuses on bringing beautiful makeup and skincare to women of all colors.
It seems that Luna Magic has been successful since appearing on Shark Tank. The brand has set its place in the industry with its skin-inclusive makeup and skincare line.
The Frias sisters have created a brand that fills a gap in the market, and they have been able to secure a deal with a Shark who believes in their vision.
Did Luna Magic Get A Shark Tank Deal?
Yes, Luna Magic did get a deal on Shark Tank. On Season 12 Episode 10 of Shark Tank, Luna Magic founders Shaira and Mabel Frías pitched their cosmetics brand and sought an investment of $200,000 in exchange for 10% equity.
They left the show with a deal with Barbara Corcoran for a $250,000 line of credit. However, the deal was signed at an $833,000 valuation, lower than the $2 million valuation that was initially proposed.
When Was Luna Magic Aired On Shark Tank?
Luna Magic, a makeup brand designed for Latino women, appeared on Shark Tank Season 12 Episode 10, which aired on January 15, 2021.
The founders, sisters Mabel and Shaira Frias, pitched their business idea to a panel of investors and TV personalities, including Barbara Corcoran, Lori Greiner, Kevin O’Leary, Mark Cuban, and Alex Rodriguez.
The sisters asked for $200,000 for 10% equity and received a $250,000 line of credit for 30% equity from Barbara Corcoran.
Is Luna Magic Still In Business?
It is unclear whether Luna Magic is still in business. Luna Magic is a beauty brand that was featured on Shark Tank in 2021. The brand hit Walmart shelves only a few months after its launch.
Luna Magic offers a line of eyeshadow, makeup, lipsticks, lashes, and hair clips that are inspired by the rich cultures and music of the Caribbean & Latin America, the hustle and bustle of NYC, and the glamour of Los Angeles.
While Luna Magic’s website is still active and allows customers to shop for beauty and makeup products, there is no information on the website about the current status of the business.
Additionally, a search for recent news articles or updates on Luna Magic’s status did not yield any results.
One article from 2021 suggests that most of the Sharks on Shark Tank had dealings with competitor businesses and did not invest in Luna Magic, but the article does not provide any information on the current status of the business.
Therefore, it is unclear whether Luna Magic is still in business.
Is Luna Magic vegan?
Delight in our 100% vegan and non-toxic polish formula to spice up your nails! For best results, please coat each nail finger with your favorite base coat, the polish formula followed by your favorite top coat.
How do you use the Luna magic primer?
For a light and fluffy eyelash look, apply the pink primer on your lashes and wait 10-15 seconds then apply your favorite mascara.
If you let the primer dry, the mascara will apply lumpy and thick.
Which episode was Luna Magic aired on Shark Tank?
It was season 12 episode 10
Is Luna magic makeup cruelty free?
Made by popular demand, we created a high-quality collection of 100% faux mink lashes to add more spice to your life. All faux lashes are vegan, cruelty-free, and gluten-free.
Who owns Luna makeup?
Mabel and Shaira Frias, the Afro-Latinas queens behind the vibrant makeup brand Luna Magic.
Where is Luna Magic located?
Luna Magic is based Los Angeles.
What is the price range of Luna magic?
Luna magic Cosmetics prices start at $8 and go up to $30. You can buy them on Amazon and Walmart.com.