Entrepreneur Barbara Lampugnale pitched her nail polish company during
If you’re short on time, here’s a quick overview of what happened to Nail Pak after
Barbara Lampugnale appeared on
|Accepted deal for $50,000 for 40% equity
|$50,000 for 40% equity
Shark Tank Nail Pak Update
- Entrepreneur: Barbara Lampugnale
- Business: 3-in-1 nail polish kit
- Ask: $50,000 for 20% equity
- Result: $50,000 for 40% equity
- Shark: Lori Greiner
Barbara walked into the tank and showed the sharks how the Nail Pak works. She talked about her inspiration to create the product, and how it can make nail care easier.
In her family with 6 daughters, she shared that every Friday night is nail night. So, they sit around the dining room table and paint each others nails.
One night during nail time, with nail polishes, and nail files, and nail polish remover scattered all over the table, she thought there must be a better way. That’s when she came up with the idea to put all of these items into one package.
The Nail Pak is basically a bottle of nail polish, with a small container that screws off of the bottom. The container has a lid that is actually a nail file, and inside the container are pads which are pre-soaked with nail polish remover.
Kevin O’Leary asked how much it cost to make one battle and how much Barbara sold them for. Barbara said a bottle cost slightly over $3 and sold for $14.99.
Kevin liked the margins, but Robert wondered if average women would consider that an expensive purchase. Barbara assured him that women were pleased with the price for 3 products in 1.
Mark Cuban asked how much she’d invested into the business, and Barbara said it amounted to $300,000, which added to the challenges her family had been suffering of late. Robert Herjavec asked about distribution options, but Barbara said she’d started reaching out.
Kevin said he was a skeptical investor and wanted to know for sure the product worked. Robert said he couldn’t add value to the business and went out.
Mark thought he wasn’t the man to help Barbara build a support system. He also went out.
Kevin turned to Lori Greiner and asked if she wanted to partner up but she refused. She made her own offer of $50,000 for 51% equity, assuring Barbara that she would get her a huge amount of sales on QVC.
She added a contingency that she wanted Barbara and her daughters to throw a huge manicure-themed party for when they’d sell out all the products. Kevin offered $50,000 for 40% equity, but Lori reminded Barbara that he didn’t have her TV connections.
Kevin asked Daymond John if he wanted to partner up, but Lori reiterated that he knew nothing about the nail polish. Daymond countered with various strategies, and bickered with Lori.
Mark advised Barbara to negotiate, and Barbara admitted she was scared by the 51%. She countered Lori’s offer by reducing the equity to 40%, and Lori eventually accepted.
The two women struck a deal of $50,000 for 40% equity, and Barbara left the tank with new hope for her company.
What do you think happened following
Our Nail Pak update reveals that the product did enjoy success on QVC. The company was then rebranded in 2015, under the new name of Grace Nail Company.
It continued to operate, but finally closed its doors around 2017. Despite this, Barbara did enjoy some years of success thanks to Lori’s help.
Hopefully Barbara has moved on to something that she is equally passionate about, however, this will be our final Nail Pak update.
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!