Women who love lipstick know the hassle of having to waste a third of the tube because it won’t twist up. Jill Quillin has a solution to this problem. Her product allows women to create new lipsticks in their kitchen with no hassle. Will she earn a deal on
Shark Tank Lipstix Remix Update
- Entrepreneur: Jill Quillin
- Business: No waste lipstick product
- Ask: $105,000 for 30% equity
- Result: $105,000 for 50%
- Shark: Barbara Corcoran, Daymond John, and Kevin Harrington
The male sharks asked Barbara Corcoran if this product was viable, and she thought it was very clever.
Kevin Harrington wanted to know about sales. Jill told the sharks that she’d been selling units at a small local market, especially over Christmas.
In ten days, she’d sold 254 units and earned around $6,000. Each unit retailed at $19.95.
Robert Herjavec thought this could only be sold on TV and that he couldn’t help Jill, so he went out.
Jill elaborated on her plans for the product, including doing a local test and then going after the big TV shopping networks.
Kevin O. hesitantly went out despite being impressed with Jill’s salesmanship. Barbara said she would offer half the amount, and that Jill would have to find another shark to jump in on the deal.
Daymond John made his own deal of $105,000 for 40%. Kevin H. wanted 40% too, which prompted Daymond to ask him to join forces. They’d take care of retail and TV, which left no space for Barbara.
Bickering between the sharks ensued until Jill went to call her husband for advice. Then, Daymond, Kevin H., and Barbara decided to unite forces, but for 50% of the company.
They offered $105,000 for 50% equity, and Jill accepted after some hesitation.
Our Lipstix Remix update shows that the deal with the three sharks never came to fruition. The business managed to continue operating on a niche level for some time, but ultimately shut down in 2013.
This will be our final Lipstix Remix update.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!