"At least be a gentleman"— When Kevin and Barbara went on a bidding war for Kawaii Lighting in Shark Tank

Kevin O
Shark Tank investor Kevin O'Leary (Image via Getty)

Barbara Corcoran and Kevin O'Leary engaged in a bidding war during Kawaii Lighting's pitch on Shark Tank season 13 episode 22. The founders, Chloe Loop and Lan Bui, sought $88,000 for 22% equity in their creative lighting company, which had achieved first-year sales of $261,000.

The heart-shaped light retailed at $305, with manufacturing costs of $100. Barbara offered $100,000 for 22% equity plus a $10 royalty per unit. As she explained the royalty structure, Kevin interrupted her mid-sentence. Barbara turned to Kevin and stated:

"I'm sorry. I have to finish my sentence at least. Okay? Just at least be a gentleman. The reason the investor needs a means of getting the money back is you always want them on the same page with you. So when you have the success along the way, they're having the success along the way. And then when the big payday comes, everybody celebrates and loves each other."

In the end, the entrepreneurs decided to go ahead with Barbara after some negotiations.


Barbara wins bidding war against Kevin during Kawaii Lighting’s Shark Tank pitch

youtube-cover

The Shark Tank pitch began strongly as Loop and Bui demonstrated their unique lighting designs. Early questions focused on sales channels, with the founders explaining their direct-to-consumer approach through their website. The Sharks examined the product quality, market positioning, and manufacturing processes.

Mark Cuban stepped away, citing the saturated market conditions in the lighting sector. The remaining Sharks continued their assessment. Emma Grede asked about customer demographics and social media presence, while Lori Greiner evaluated the design features and retail pricing strategy. The conversation shifted when Barbara Corcoran started discussing possible investment structures.

Barbara made the first move with a clear offer: $100,000 for 22% equity plus a $10 per unit royalty until she recovered her investment. After exchanging some words with Kevin, the Shark Tank investor completed her explanation about creating strong business partnerships through aligned incentives.

Kevin then responded with his offer: $88,000 for 22% plus a $5 per unit royalty until recoupment. The lower royalty rate caught the founders' attention. Barbara quickly modified her proposal, maintaining her higher $100,000 investment while matching Kevin's $5 royalty rate.

Loop and Bui carefully considered both offers, weighing the total investment amount against the royalty obligations. After evaluating both proposals, Loop and Bui focused on the financial implications. Barbara's modified offer provided an additional $12,000 in capital while maintaining the same royalty rate as Kevin's proposal.

Ultimately, the Shark Tank founders accepted Barbara's offer of $100,000 for 22% equity plus the $5 per unit royalty structure. Emma Grede and Lori Greiner confirmed their earlier decisions to stay out of the bidding, citing market fit concerns.


Business outcomes

As per Shark Tank Blog, following the appearance, Kawaii Lighting expanded its market presence while maintaining a direct-to-consumer sales model through its website. Their product line grew to include new accessories and carrying cases for their signature lights, and sales data indicated consistent growth patterns after the episode aired.

Major changes occurred in early 2023 when Chloe Loop transitioned out of her CEO role in April 2023. She moved to a new position as Director of Senior Care at Home Instead Senior Care, while Lan Bui took full control of operations by buying out Loop's share of the business. Bui noted on social media that this transition period lasted approximately one year.

As of 2024, the Shark Tank company maintains a strong market presence with 28,000 Instagram followers. The company sells various models ranging from $39 to $379. Their product line includes the original heart, star, and cat designs, plus new lighting accessories.

Several celebrities, including Paris Hilton, Cardi B, and Elisha Cuthbert, have featured the products on their social media platforms. The company continues operating under Lan Bui's leadership with Barbara Corcoran's active involvement. However, as of January 17, 2025, their Shopify website is not online, and the last Instagram post was made on September 2, 2024.


Shark Tank season 16 is airing on the ABC network.

Quick Links

Edited by Shubham Soni
Sportskeeda logo
Close menu
WWE
WWE
NBA
NBA
NFL
NFL
MMA
MMA
Tennis
Tennis
NHL
NHL
Golf
Golf
MLB
MLB
Soccer
Soccer
F1
F1
WNBA
WNBA
More
More
bell-icon Manage notifications