Have you ever wished you could cut your hair at home? Entrepreneur Mai Lieu has you covered with a host of products that can help you do beauty at home. What will the sharks think on
Shark Tank CreaProducts Update
- Entrepreneur: Mai Lieu
- Business: At-home beauty tools
- Ask: $200,000 for 10% equity
- Result: $200,000 for 22.5% equity
- Shark: Lori Greiner
EASY TO LEARN; just clip, slide, and cut; trim your bangs and create layers in just minutes with the CreaClips and get salon-grade results.
GREAT FOR KIDS HAIR CUTS AND EVEN MEN HAIR or just maintaining a hairstyle in between cuts.
Kevin O’Leary immediately asked about her sales. Mai disclosed that in the past year, she had sold $550,000 of the CreaClip, her bestseller. She was also a beauty YouTuber and went viral for one of her videos, which got her to sell 150,000 units within a week.
With the CreaClip selling online for $30 and Mai keeping a profit of 66%, CreaProducts had been doing very well. Robert Herjavec empathizes with Mai’s background as an immigrant. He knew the drive that was instilled in her, but he didn’t have an interest in the product itself and went out.
Mark Cuban and Kevin also went out because they didn’t feel they were the right fit for the product. This left Barbara Corcoran and Lori Greiner.
Barbara thought that there was not much room left for an investor in the company. She wished Mai the best, but also went out.
Lori thought about her offer and then put $200,000 for 25% equity on the table. She believed there would need to be some finessing work, which was reflected in her stake offer.
Mai countered with 20% stake but Lori held firm at first only to counter again at 22.5%.
Mai agreed to Lori’s offer and left the tank with a deal. Did Mai continue to thrive thanks to the
Our CreaProducts update shows that Mai’s deal with Lori was never finalized. Despite this, Mai profited from her
Our CreaProducts update research found that it continues to operate and makes around $3 million in revenue per year.
You can check out Mai’s products on the CreaProducts website but they can also be purchased on Amazon.
Would you like to find out about the other companies appearing on Season 7 Episode 27? Follow the links below to familiarize yourself with our other company updates for this episode.
Be sure to stop by our Season 7 Products Page for even more on companies and products!