Makeup Junkie Bag Shark Tank Net Worth 2023
Meredith and Lori never reached a deal, as Lori wanted to manufacture overseas while Meredith wished to keep it in Texas. Since June 2021, Meredith’s products have spread out into 2000 stores across the US, with yearly revenue reaching $2 million.
The Company’s net worth is estimated to be over $10 million, making it one of the most successful businesses despite the failed negotiations.
What is Makeup Junkie Bag?
The Makeup Junkie Bag is a cosmetic pouch that remains flat, granting convenient and total access to all items, while minimizing the risk of tipping over and spilling its contents. These bags are meticulously handmade in Texas and are available in more than 2,000 retail locations throughout the country.
They come in four different sizes: mini, small, medium, and large, and in a range of colors and patterns, such as Bordeaux Velvet, Slate Geometric, Fiesta Floral, Holographic Gator, and Two-Faced Bridal.
Additionally, in addition to cosmetic bags, the Makeup Junkie brand also offers totes, backpacks, crossbody bags, and other items, as well as a small collection of cosmetics and clothing.
The firm was founded by Meredith Jurica in January 2017, and she still serves as the CEO of the company, which is located in Houston.
Prior to embarking on her entrepreneurial journey, she obtained a master’s degree in speech-language pathology from Texas Woman’s University. She has kept her personal and professional lives relatively private.
What happen to Makeup Junkie Bag at the Shark Tank Pitch?
The ladies who own them love Makeup Junkie Bags. They can be used as a makeup bag or as a clutch for a night out. The bag is spacious enough to hold makeup, a cell phone, and a few other essential items. The design and logo of Makeup Junkie Bags are copyrighted and registered. These bags come in various colors and patterns and cost around $32 each.
Makeup Junkie Bags are sold on Amazon and the company website, but MJ is also looking for wholesale clients. Meredith, who has generated $1.5 million in sales after launching the product and giving out samples, demands $200,000 for a 15% stake, valuing the company at $1,333,333.33.
Meredith wants a Shark to help her increase production from 6,000 bags per month. The Sharks make three offers. Lori offers $200,000 in exchange for a 5% stake and a $1 royalty per bag forever.
Kevin offers $200,000 in exchange for a 3% royalty plus a $1.50 fee for each bag up to $750,000. Sara offers $200,000 in exchange for a $1 royalty on each bag sold until the debt is paid.
Meredith accepts Lori’s offer, but Lori agrees to reduce the fee to 0.75% for each bag.
Makeup Junkie Bag after the Shark Tank Pitch
Lori’s agreement was left unfinished as she wanted to pursue production opportunities elsewhere, while Meredith aimed to keep her business rooted in Texas. By June 2021, Meredith’s products will be accessible in more than 2000 locations throughout the country, generating around $2 million in annual revenue.
Makeup Junkie Bag Net Worth
The Company net worth is estimated to be over $10 Million.
Makeup Junkie Bag Competitors
Unknown.
Makeup Junkie Bag Shark Tank Updates
Makeup Junkie Bags is a company that produces fashionable and functional makeup bags designed with the makeup junkie in mind. The founder, Meredith Jurica, created the bags out of a need for something better.
She found that most makeup bags that looked good didn’t have waterproof interiors, were too big, and made it difficult to find makeup. Her bags lie flat and have an extra big medial zipper that makes it easy to find makeup.
Makeup Junkie Bags appeared on Shark Tank in Season 10, Episode 11, and made a deal with Lori Greiner for a $200,000 loan for 5% equity and a 0.75 cent royalty in perpetuity.
However, the deal with Lori never closed because Lori wanted to manufacture overseas, and Meredith wanted to keep her operation in Texas. Despite this, Makeup Junkie Bags is still in operation and doing fairly well.
The company constantly launches new collections and has five different sizes of bags, all of which are still being manufactured.
As of June 2021, Meredith Jurica is still the sole owner of Makeup Junkie Bags, and there has been no decline in success since appearing on Shark Tank. The bags are patented, luxury, leak-resistant, lay-flat cosmetic and travel bags, fit for any style.
All products are handmade in Texas, and the company offers a lifetime warranty. Makeup Junkie Bags are designed to be functional, fashionable, and waterproof, making them a popular choice for makeup lovers on the go.
Makeup Junkie Bag Shark Tank Table Summary:
INFORMATION | DETAILS |
Company Name | Makeup Junkie Bag |
Founder | Meredith Jurica |
Year Founded | January 2017 |
Headquarters | Houston, Texas |
Products | Cosmetic pouches, totes, backpacks, crossbody bags, cosmetics, and clothing |
Shark Tank Episode | Season 10, Episode 11 |
Amount Asked on Shark Tank | $200,000 for 15% equity |
Shark That Made an Offer | Lori Greiner |
Deal Made on Shark Tank | $200,000 loan for 5% equity and a 0.75 cent royalty in perpetuity |
Reason for Failed Deal | Lori wanted to manufacture overseas, while Meredith wanted to keep the operation in Texas |
Net Worth in 2023 | Over $10 million |
Yearly Revenue in 2021 | $2 million |
Number of Retail Locations | 2,000+ |
Bag Sizes | Mini, Small, Medium, and Large |
Bag Colors and Patterns | Bordeaux Velvet, Slate Geometric, Fiesta Floral, Holographic Gator, and Two-Faced Bridal |
Competitors | Unknown |
Makeup Junkie Bag FAQS
What Is Makeup Junkie Bag Shark Tank?
Makeup Junkie Bags is a company that produces uniquely designed bags for carrying makeup. The founder, Meredith Jurica, created the bags out of a need for something better.
She found that most makeup bags that looked good didn’t have waterproof interiors, were too big, and made it difficult to find makeup. Her bags lie flat, but they have an extra big, medial zipper that makes it convenient to access anything and everything that is stored within.
Makeup Junkie Bags appeared on Shark Tank in Season 10 Episode 11. Jurica asked for $200,000 for 15% equity in her company. After the initial presentation, she was offered a $200,000 loan for 5% equity and a 0.75 cent royalty in perpetuity by Lori Greiner.
Jurica revealed that her first three months in business resulted in more than $100,000 in gross revenue sales.
Makeup Junkie Bags are made in Texas and have a patented design with a lifetime warranty. All products are handmade in the USA. The company offers a range of products, including wrist straps, travel bags, and cosmetic bags.
The bags are leak-resistant and come in a variety of sizes to fit different needs. The company’s products have been featured on Shark Tank.
How Does Makeup Junkie Bag Shark Tank Works?
Makeup Junkie Bags is a company that produces fashionable and functional makeup bags designed with the makeup junkie in mind. The founder, Meredith Jurica, created the bags out of a need for something better.
She found that most makeup bags that looked good didn’t have waterproof interiors and were too big, making it difficult to find makeup. Her bags lie flat but have an extra big medial zipper that allows them to open wide and stay open when unzipped.
In episode 1010 of Shark Tank, Jurica pitched her business and received three offers. Lori offered a $200,000 loan for 5% plus a $1 royalty per bag in perpetuity. Kevin offered $200,000 for 3% plus a $1.50 royalty per bag until he was paid $750,000. Sara offered $200,000 for a $1 per bag royalty until she was repaid.
After Shark Tank, Makeup Junkie Bags continued to grow and launch new collections. They have five different sizes of bags, all of which are still being manufactured. The company has gone from selling handfuls to thousands of bags on their website and in some of the finest boutiques in the USA.
What Happened To Makeup Junkie Bag After Shark Tank?
Makeup Junkie Bags is a beauty brand that specializes in makeup bags designed for travel and home use. The brand was founded by Meredith Jurica, a stay-at-home mom who was frustrated with the functionality of her makeup bag and decided to create her own.
After people started to take notice and request Jurica to make one for them as well, she expanded the brand.
Jurica appeared on Shark Tank in Season 10 Episode 11, asking for $200,000 for 15% equity in her company. She did not take the deal offered by the Sharks, which was a $200,000 loan for 5% equity and a 0.75 cent royalty in perpetuity from Lori Greiner.
However, the brand has continued to thrive since its appearance on the show. Makeup Junkie Bags are constantly launching new products and expanding their reach.
As of 2023, Jurica is still the sole owner of Makeup Junkie Bags, and the brand has not disclosed its net worth. However, the brand has grown tremendously since its inception. Jurica now creates the bags in a new private facility based in Texas, and the brand has a net worth of over $10 million.
What Is The Current Valuation Of Makeup Junkie Bag Shark Tank?
Makeup Junkie Bag is a cosmetic pouch with special compartments for ladies’ accessories[1]. The company’s founder, Meredith Jurica, appeared on Shark Tank in January 2019, asking for $200,000 for a 15% share in her company.
Although Lori Greiner offered a $200,000 loan for 5% equity and a 0.75 cent royalty in perpetuity, Meredith did not accept the deal as Lori wanted to manufacture overseas while Meredith wished to keep it in Texas.
Since June 2021, Meredith’s products have spread out into 2000 stores across the US, with yearly revenue reaching $2 million. The company’s net worth is estimated to be over $10 million. Geeksaroundglobe.com reports that Meredith Jurica has a net worth of $9.5 million as of 2022.
Is Makeup Junkie Bag Shark Tank Still In Business?
Yes, Makeup Junkie Bags is still in business. Since appearing on Shark Tank, the brand has grown tremendously. Although Meredith Jurica, the founder of Makeup Junkie Bags, did not take the money from the Sharks, her business is still thriving.
The company is based in Texas and all products are handmade in the USA. The brand’s patented luxury leak-resistant layflat cosmetic and travel bags are fit for any style and come with a lifetime warranty.
Makeup Junkie Bags is still in operation and doing fairly well. The deal with Lori Greiner, one of the Sharks, never closed because she wanted to manufacture overseas while Jurica wanted to keep her operation in Texas.
As of June 2021, Jurica was still running the business and pitching her bags to potential investors.
In conclusion, Makeup Junkie Bags is still in business and thriving since its appearance on Shark Tank. The company is based in Texas and all products are handmade in the USA. Although the deal with Lori Greiner never closed, Jurica is still running the business and pitching her bags to potential investors.
Who owns Makeup Junkie Bags?
Meredith Jurica founded Makeup Junkie Bags in her kitchen.
According to the self-proclaimed cosmetics obsessive, the idea came about when she was unable to locate a convenient makeup bag.
Her designs are resistant to wet, lay flat, and are roomy. “This one carries twenty cosmetics,” Jurica explains.
Can they wash Makeup Junkie Bags?
They’ve all soiled their bags with cosmetics, perfume, and granola bars.
With the washable inside of Makeup Junkie Bags, all they have to do is go down in there with a damp cloth and clean the bag out.
There will be no stranger crumb kingdom inhabiting their favourite item.
Where are Makeup Junkie Bags manufactured?
Makeup Junkie Bags are handcrafted in Texas and sold in over 2,000 locations worldwide. They are available in over 400 fashionable designs and seven distinct sizes.
When did cosmetics addict make an appearance on Shark Tank?
Meredith Jurica of Willis, Texas invented Makeup Junkie Bags, a collection of lay-flat cosmetic and travel bags.
In January 2019, the businesswoman proposed her million-dollar venture on Shark Tank. She approached the Tank in search of a $200,000 investment in return for 15% equity.
What should they fill their Makeup Bag with?
Here are some suggestions for items to add in their beauty bag, but they can include whatever they choose.
Makeup, Makeup Remover, Lip Gloss/Chapstick, Nail Polish, Pedicure Set, Lotion, and Sunscreen are all included.
How do they clean make up from Makeup Bag?
Clean their cosmetics bag. If they are using one of their bags, just clean it with a soapy sponge and then a rubbing alcohol towel.
Allow to dry naturally. If they are using a cotton cosmetic bag, wash it in hot water to eliminate germs.
How often should they wash their Makeup Bag?
Maintain consistency. They recommend deep cleaning any cosmetic bag or wash bag that is regularly used once a month, followed by a weekly spritz of antibacterial spray, always ensuring the interior of the beauty bag is completely dry before zipping it back up.
Can they put Makeup Bags in the washing machine?
They may either hand wash or machine wash a cotton make-up bag.
Assure that it is air dried, since the heat from a tumble dryer may cause harm.
Finally, ensuring their bag is completely dry before reintroducing their makeup; otherwise, bacteria may spread.
What are weaknesses of Makeup Junkie Bag?
During her appearance on the ABC show, Meredith claimed that she was unable to produce as many bags as she needed to sell due to the high price of manufacturing materials.
What are Makeup Junkie Bag strengths?
Affordable, stylish and fun.
How do they make money?
According to the founder of Makeup Junkie Bags, they simply manufacture and sell the bags.
Where is Makeup Junkie Bag located?
They are located in Texas.
How long have they been in business?
Makeup Junkie Bag have been on business since January 2017.
How much does Makeup Junkie Bag costs?
The bags cost around $32 each.
How can they get a Makeup Junkie Bag?
They can purchase them at their website, as well as Amazon. They can also visit the company’s Facebook, Instagram and Twitter pages.
How to contact Makeup Junkie Bag?
They can be contacted via their Facebook, Instagram and Twitter pages, where they share pictures of their products and upcoming sales.
Various contact information is also available on the site.
What is net worth of Meredith Jurica?
Unknown.