No Mo-Stache Update | Shark Tank Season 9

Busy women often lack time for salon visits, creating a need for convenient at-home hair removal solutions. This gap in the market inspired Jennifer Paschall and Gita Vasseghi, beauty industry veterans, to develop No Mo-Stache, a portable waxing kit for a quick and mess-free hair removal experience. Will the sharks be ready to say goodbye to upper lip hair? Let’s find out in this No Mo-Stache update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to No Mo-Stache after Shark Tank.

Jennifer and Gita pitched their business on Shark Tank Season 9, seeking $100,000 for a 25% stake. They were able to secure a deal with Lori Greiner and Bethenny Frankel for $100,000 for 25% equity with a $1 royalty per unit sold until they recoup $200,000.

In terms of a No Mo-Stache update, the company is still operational. They’ve expanded their product line with the No Mo-Bush and have grown to around $4 million in annual revenue.

Shark	Result
Lori Greiner and Bethenny Frankel	Accepted offer for $100,000 for 25% and a $1 royalty until $200,000
Mark Cuban	No offer
Robert Herjavec	No offer
Kevin O’Leary	No offer

Shark Tank No Mo-Stache Pitch

• Entrepreneurs: Jennifer Paschall and Gita Vasseghi
• Business: On-the-go discreet waxing strips for women
• Ask: $100,000 for 25% equity
• Result: $100,000 for 25% and a $1 royalty until $200,000 was reached
• Sharks: Lori Greiner and Bethenny Frankel

Jennifer and Gita began their pitch by sharing their vision with the sharks. They then explain how No Mo-Stache products could be a game-changer for busy women.  

No Mo-Stache is a portable waxing kit that allows for on-the-go hair removal. It is travel-friendly, mess-free, and safe for sensitive skin.

To further showcase the product’s user-friendliness, they enlisted a model to walk the sharks through how the product works, highlighting its intuitive design. 

Additionally, they emphasized their product’s competitive edge: its compact size for easy storage, subtle design for discreet use, and portability for on-the-go convenience. 

Mark Cuban poked a little fun at them, asking why women wouldn’t just shave instead. On the other hand, Robert Herjavec seemed genuinely curious. 

He wasn’t familiar with these kinds of products and wanted to know if facial hair was a big deal for most women. 

Guest shark Bethenny Frankel, who is quite experienced in this niche market, jumped in to ask what made No Mo-Stache different, saying that Sally Hansen Strips is a big competitor in the hair removal business. 

The entrepreneurs explained that their product offered a more compact and inconspicuous design compared to the existing option. 

Kevin O’Leary wanted to know if they had a patent for their idea, expressing concern that they might not. He then questioned the company’s valuation of $400,000 without patent protection. 

Mark Cuban wanted to know about the numbers. He asked for their cost structure. They explained that each unit costs $1.74 to produce and sell$18 per unit.

He asked about their sales history, and they said they had generated $200,000 in the past two years and projected $300,000 for the current year. 

Lori Greiner raised concerns about the product’s sales strategy, echoed by concerns that while the product is available in Sephora stores, its presence is limited to only 60 locations out of a possible 200. 

They explained that this was due to Sephora’s limited availability and its focus on “accommodating new trends.”  However, Lori suspects that the lower availability might be due to slow sales. 

In contrast, the ladies highlighted their plans to expand distribution through the addition of five new partners.

Kevin made an offer for $100,000 for a 10% equity, with an additional incentive of $1 per kit sold until he recoups $300,000. 

Bethenny countered with her own offer of $100,000 but for a 40% equity. Her proposal involved integrating the product into her Skinny Girl brand and including it within her existing beauty kits. 

Believing the QVC platform holds promise for the kits’ sales success, Lori joins in on her deal and enthusiastically brainstorms marketing strategies with Bethenny.

Jennifer counters with $100,000 for a 35% equity stake, but Lori and Bethenny refuse. 

Kevin reduces his royalty offer to $0.75 per unit sold. However, the entrepreneur’s continued indecision leads him to lower it further to $0.50. 

In response, Lori and Bethenny counter for $100,000 for a 35% equity, with a $1 royalty per unit sold until they recoup the investment.

Tensions rose during negotiations. The entrepreneurs countered Lori and Bethenny’s offer with $100,000 for 25% equity and a $1 royalty per unit sold until $200,000 was recouped. 

Lori and Bethenny ultimately accepted the offer but insisted on finalizing the deal without further negotiation.

Where is the company today at the time of this No Mo-Stache update? 

Shark Tank No Mo-Stache Update 

After their Shark Tank appearance, the company launched a new product called No Mo-Bush. 

With the help of Bethenny Frankel and Lori Greiner, No Mo-Stache secured distribution deals with major retailers, including Anthropologie, Harvey Nichols, Virgin Megastore, and Ulta. 

We got an official No Mo-Stache update during a Season 10 episode, which shared that the company received a nationwide distribution deal with CVS. 

By June 2021, No Mo-Stache products were available in over 15,000 retail stores and online through Amazon. Even better, the company’s annual revenue has grown to over $4 million since Shark Tank.

It’s safe to say that this No Mo-Stache update is a success!

You can find the other company updates from Season 9 Episode 8 here:

• Snarky Tea Update
• Dreampad Update
• SnoofyBee Update

Before you go, be sure to check out our Shark Tank Season 9 page for more updates!