Oakshell update: What happened to Emma Grede-invested business after Shark Tank?

Viewers will get an update about Oakshell on episode 7 of Shark Tank season 14. The new episode will air on Friday, November 18, 2022, at 8 pm ET on ABC.

In the upcoming episode, investor Emma Grede will talk about the headband business, Oakshell, in which she invested in the previous season of the show. The synopsis of episode 7, reads:

“In a 'Shark Tank' update, Mika Bertholdo from Celina, Texas, and her investor Emma Grede have an update on ooakshell, a one-size-fits-all, multifunctional hair accessories.”

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Oakshell appeared on Shark Tank in season 13

Entrepreneur Mika Bertholdo appeared on episode 22 of Shark Tank season 13. At the time, she pitched her product, Oakshell, an adjustable headband, before investors Mark Cuban, Robert Herjavec, Kevin O’Leary, Lori Greiner, and guest judge Emma Grede.

Mika, an entrepreneur from Dallas, Texas, walked into the room seeking $150,000 for a 10% equity for her custom and hand-dyed headbands.

During her pitch, Mika explained to the Sharks that she needed their help to scale up her business as she was tired of doing everything all by herself.

The entrepreneur also revealed that making one headband costs her about a dollar and 20 cents but she sells the product for $35 each.

The profit margins left the investors impressed. She then revealed that she made a little over $300,000 from her sales in the previous year. She also said that she had sold the headbands 100% directly to consumers on her website and had an 81% customer return rate. Mark Cuban asked Mika how she sold over 10,000 hairbands to generate over $300,000 in sales.

The entrepreneur explained that she works 16-20 hours every day, sewing, dyeing, packaging, and more, and hardly sleeps while creating the headbands. She also shared that she does not even spend a single penny on marketing and spreads the word about her company through her social media accounts.

Though the Sharks were impressed by her work and her numbers, none of them invested in her business, citing high competition and lack of knowledge about the business. Only guest Shark Emma showed an interest in the company and made an offer of $150,000 for 20% equity

Mika tried hard to negotiate to 13% but finally agreed after Emma pointed out that it would take a lot of work to turn Oakshell into a proper company with a specific infrastructure.

Immediately after the episode aired, Mika sold out all her headbands.

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Mika started Ooakshell four years before appearing on Shark Tank

Mika started Ooakshell in 2018 as she experienced postpartum hair loss after having her second child. She first sold the headbands at Etsy before selling them at her shop in 2020.

She told Nena & Co:

“I started at the end of 2018 because regular headbands weren't working for me. I had postpartum hair loss and headbands weren't fitting me properly. I created one that was wide and fully adjustable, and I started dyeing them myself to match my colorful Nena bags."

She continued:

"I actually started cutting, sewing, and dyeing at my mom's house. Then I would post a photo of myself wearing one with a Nena bag in a Nena group, and that's how I got my customers.”

Her headbands come in various patterns and their cost ranges from $28 to $33. Headbands and other hair accessories can be purchased from the company's official website - ooakshelxl.com.

Tune in on Friday to ABC to watch updates about Mika and her headband business on Shark Tank.