Luna Magic Shark Tank Update Luna Magic after Shark Tank Pitch
What is Luna Magic?
Luna Magic is a brand of cosmetics, skin care, and personal care products recognized for their vibrant colour 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 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 honours our ethnic roots and women of all colours and origins.
Who founded Luna Magic?
Shaira Frías and Mabel Frías are the founders of Luna magic.
What happen to Luna Magic at the Shark Tank pitch?
Mabel struggled to persuade large corporations to accept the bold hues she desired in her make-up.
In early 2019, she approached her sister and the two of them established a company together.
The girls were reared in New York by Dominican parents and wanted to create a cosmetic brand that would appeal to all Latinas and cultural enthusiasts.
They named the company after their mother, who died as they were preparing to launch it.
The firm received a Glossier Grant in May 2020, an honour created by the billion-dollar cosmetics giant exclusively for black-owned beauty businesses.
Out of over 30,000 applications, they were one of 16 “winners.”
The Frias sisters hope to get on the $35 billion in cosmetics spending by African American and Latina women each year.
Eye shadow, lipstick, brushes, artificial eyelashes, and other cosmetics are available from the brand.
The hues are vibrant and entertaining, and the prices are comparable to well-known name-brand cosmetics.
They’re available on Amazon, Walmart, and other retailers, but they’d want to use a Shark to help them expand their “Latin Vibe” company.
Mabel and Shaira are looking for $200,000 for a 10% stake in their firm.
The Sharks are impressed that the sisters have over 1000 stores and are in talks with Walmart about end caps.
The women claim they require the assistance of a Shark to assist them with logistics.
The Sharks enjoy the fact that they have $157,000 in cash and no debt.
Lori and Alex are unable to invest due to a conflict of interest.
Barbara is the only one who has made an offer. She’ll fund all purchase orders with a $250,000 line of credit at 30% interest.
The sisters are willing to accept.
Luna Magic after Shark Tank Pitch
This show’s first re-run was in March of 2021, less than two months after it initially aired. There is no indication that this agreement will close at the time.
The sisters write on the Luna website, “We successfully proposed Luna Magic Beauty and walked away with an offer, despite our nerves.
Luna Magic Beauty is excited about further exposure, strategic counsel, and mentoring from our investor, and you can find Luna Magic Beauty at Walmart stores and on Walmart.com.”
They claim to have left with an offer rather than a contract. The agreement with Barbara does not appear to have closed as of July 2021.
Luna Magic Net Worth
Luna magic net worth was $833.333, after accepting the offer.
Luna magic competitors are associated with other successful businesses like Sephora, Dior, MAC, etc.
Luna Magic FAQS
Is Luna magic still in business?
Currently, Luna Magic remains co-owned by the sisters, neither of whom have indicated any desire to sell, and brand awareness and sales growth continue to increase as a result of their curated social media presence and favourable news representation.
Did Luna Magic get a shark tank deal?
Yes, Luna Magic get a deal from Barbara Corcoran.
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 favourite base coat, the polish formula followed by favourite 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 favourite mascara.
If you let the primer dry, the mascara will apply lumpy and thick.
What is Luna magic?
It is a vibrant beauty and lifestyle brand that celebrates our multicultural heritage and women of all shades and backgrounds.
When was Luna Magic aired on Shark Tank?
It was aired on 15th January, 2021
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.