Many women today are wearing lash extensions, aka fake eyelashes. Unfortunately, they are hard to put on and most eyelash adhesives contain harmful chemicals. Because of this, board-certified ophthalmologist, Dr. Anika S. Goodwin, MD, created a better, and safer product. Will she get a deal on
If you’re short on time, here’s a quick overview of what happened to OpulanceMD Beauty after
OpulanceMD Beauty appeared on
|Kendra Scott||Accepted deal of $100,000 for 20% equity|
|Kevin O’Leary||$75,000 for 20% equity|
|Barbara Corcoran||No Offer|
|Lori Greiner||No Offer|
|Mark Cuban||No Offer|
Shark Tank OpulenceMD Beauty Update
- Entrepreneur: Dr. Anika S. Goodwin, MD
- Business: Safe and glue-free magnetic eyelashes
- Ask: $75,000 for 5% equity
- Result: $100,000 for 20% equity
- Shark: Kendra Scott
Dr. Goodwin brought her company OpulenceMD Beauty to
The Naked Socialite lash features a clear band and measures 6-7-7mm (inside, center, outside) giving you shorter lash lengths to prevent batting against your eyeglass lens. The varied length of these lashes makes your eyes pop - even behind your favorite glasses.
Dr. Goodwin shared with the sharks that after years and years of eyelash abuse, and even losing her own lashes, she knew there had to be a better way.
That’s when she created her luxury beauty line, which specializes in eyelash products, and eliminates the trial and error of getting the eyelash on right and is free of harmful products.
You simply apply the magnetic eyeliner to the lid, which contains tiny iron oxide particles. Then, the eyelashes, made from mink, adhere to the liner magnetically.
Mark decided to play along by putting one of the eyelashes on and showing it off to the other sharks in a humorous bit.
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Getting back to business, Lori Greiner asked Dr. Goodwin about a patent, but she explained that she did not have one. She shared that she did not create magnetic eyeliner or magnetic eyelashes, she just improved upon the idea.
When the sharks ask about cost, Dr. Goodwin shared that on average, a set is sold for $245. With a manufacturing cost of $20, her margins are around 88%-95%.
Additionally, she launched OpulanceMD Beauty in February and her YTD sales at that time were $685,000. In the month prior, she was finally profitable, making $213,000 all through online sales.
Mark took a moment to share that as much as he enjoyed his moment with the eyelashes, it’s not really his forte. For that reason, he’s out.
Kevin O’Leary on the other hand, is interested. He offers Dr. Goodwin $75,000 for 20% equity in OpulenceMD Beauty.
Guest shark Kendra Scott chimes in saying that, unlike Mr. Wonderful, she knows a thing or two about wearing eyelashes. She loves the product and Dr. Goodwin, so she also offers $75,000 for 20% equity.
Dr. Goodwin says she would love to work with Kendra, however, she counters back by lowering the equity stake to 12%. Kendra doesn’t budge on the equity but bumps her offer up to $100,000.
Even with the added money, Dr. Goodwin counters again with $120,000 for a 20% stake, to which Kendra says no.
At this point, she accepts Kendra’s deal of $100,000 for 20% equity in OpulenceMD Beauty, before hearing from any of the remaining sharks.
What happened following Dr. Goodwin’s time on
In terms of an OpulenceMD Beauty update, the company is doing well! However, it appears that the deal with Kendra never closed.
That said, the company benefited from its appearance on
A look on the OppulenceMD Beauty website, reveals that the company’s product line has expanded quite a bit. They even carry skincare products now.
Additionally, they offer ways to host eyelash parties. They also have a membership program, as well as a subscription service.
Besides the company website, products are also available on Amazon, so be sure to give them a look!
In the meantime, be sure to check out updates for some of the other companies featured on Season 12 Episode 20:
For more on
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!