Pink Picasso Paint Kits Update | Shark Tank Season 13
were Who doesn’t like getting creative? Partners Ashley and Brittany Silfies are inspiring customers to get in touch with their creative side with Pink Picasso, a paint-by-numbers kit. Will the sharks see the spark in this deal during their
If you’re short on time, here’s a quick overview of what happened to Pink Picasso after
Ashley and Brittany Silfies appeared on
| Shark: | Result: |
| Lori Greiner and Daniel Lubetzky | Accepted deal of $400,000 for 15% equity |
| Barbara Corcoran | $400,000 loan for 5% equity with 8% interest |
| Kevin O’Leary | $400,000 for 3% equity and a $6 royalty per kit in perpetuity |
| Mark Cuban | No Offer |
Shark Tank Pink Picasso Update
- Entrepreneurs: Ashley and Brittany Silfies
- Business: Paint-by-number kits
- Ask: $400,000 for 5% equity
- Result: $400,000 for 15% equity
- Sharks: Lori Greiner and Daniel Lubetzky
Best friends and partners Ashley and Brittany Silfies blew up their traditional suburban lives and found themselves searching for a way to comfortably provide for their three children. Looking at the blank wall of their apartment, they leaned on Ashley’s background in photography and manufacturing to create Pink Picasso.
Unleash your creative potential and improve your artistic skills with our all-in-one Paint By Numbers Kit. Create your own wall art masterpiece without breaking a sweat in a fun and enjoyable way together with your kids and friends.
Pink Picasso provides paint-by-number kits rolled up into a tube, giving the customer everything they need to make a masterpiece based on Ashley’s photography. It’s easy to store when you aren’t using it and allows people of every skill level to tap into their creativity.
While the paintings are lovely, their sales numbers are even better. In 2019, Ashley and Brittany started with just $1,500 worth of products and kept selling out, leading to an eventual $1.3 million in sales. In 2020, they achieved $3.5 million in sales.
At the time of filming, they’ve reached $1.4 million in sales with a projected gross of $5 million by the end of the year.
The sharks’ eyes light up when they hear how profitable the company is. It costs Pink Picasso $3.77 to make a 16 x 20” paint kit, and each one retails for $42.
They’re currently in 2,100 boutiques but need a mentor as they feel out of their element at this level of growth. Looking forward, they want to license and want to be in big box craft stores like Michael’s, but they need a shark to help get their foot in the door.
The first to jump in is Kevin O’Leary, who thinks he can be that mentor. He offers $400,000 for 33% of the company. He is very interested and says he can help with distribution. It’s a sharky deal.
Lori Greiner also wants in and thinks that she can help blow it up. She and guest shark Daniel Lubetzky go in together at $500,000 for 20% equity.
Before Ashley and Brittany can react, the rest of the sharks need to get their offers in.
Barbara Corcoran is out because she doesn’t think they need a shark.
Then, Mark Cuban says he isn’t a good fit, but he cautions them not to sell themselves short.
However, Barbara decides to come back in because she likes their determination. She offers a $400,000 loan for 5% equity with 8% interest.
This causes Kevin to modify his deal. He now offers $400,000 for 3% equity and a $6 royalty per kit in perpetuity.
The entrepreneurs have a lot to think about. They finally counter Lori and Daniel, asking if they’ll consider 15% equity instead. They agree and make a deal.
How have Ashley and Brittany fared since their successful time in the tank? Continue reading our Pink Picasso update to find out.
Ashley and Brittany were kind enough to give
“We are very focused on our direct-to-customer strategy and enjoy providing new ideas,” Brittany added.
Pink Picasso has received tons of positive press since
They’ve also expanded their product offerings to three different paint-by-number lines available on the Pink Picasso website, and a new shoe decal called Wear Your Sole. Further, products are sold online as well as in-store at Michael’s.
As for the deal with Lori and Daniel, it turns out that it ended up not going through. “We all decided not to move forward with closing the deal,” Ashley told us. “They are lovely people but we are so glad to own 100% of our company currently.”
Looking ahead to a future Pink Picasso update, Ashley and Brittany told us that they are hard at work developing new kids for various levels of difficulty. “We love meeting the needs to self-care and craft for non-artists as well as seasoned ones,” said Brittany.
She continued, “We are enjoying our jobs and look forward to many more years of doing business.”
We are cheering on Ashley and Brittany and cannot wait to see what our next Pink Picasso update has in store!
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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!