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Laura Schubert and Lillian Tung pitched their intimate hair care brand, Fur, on Shark Tank season 11 episode 13, seeking $500,000 for 2.5% equity. Kevin O'Leary offered $500,000 for 2.5% with a $1 royalty per unit until reaching $1 million. Daymond John proposed $500,000 for 15% equity, while Lori Greiner initially offered $500,000 for 12% equity.
The founders countered with a request for more investment in exchange for higher equity. During negotiations, they stood firm at a maximum of 5% equity. Kevin O'Leary eventually withdrew his interest. As discussions continued between the remaining parties, Lori Greiner made her final offer:
"All right, I'm going to leave it right on this line. I would do $500,000 for 8% and $50,000 towards a charitable component."
The Shark Tank founders accepted this total package of $550,000.
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Lori Greiner invests in Fur with charity component on Shark Tank
The Shark Tank company founders showcased their signature product, Fur Oil, priced at $28 for a 14 ml bottle. The specialized formula combines grape seed oil, jojoba oil, clary sage oil, and tea tree oil. Market research supported their $20 million valuation, backed by substantial sales data and profit margins. Their product line has expanded to include stubble cream for ingrown hair prevention, bath beads, shaving cream, specialized scrubs, and cleansing wipes.
Emma Watson's endorsement boosted brand credibility and increased market recognition. The founders' strategic pricing and distribution methods demonstrated a deep understanding of the beauty industry's premium segment. Their direct-to-consumer model maintained healthy profit margins while building strong customer relationships.
Maria Sharapova, the guest shark, backed out due to concerns about equity value, stating that the valuation exceeded her investment parameters. Mark Cuban voiced concerns about market reach limitations, indicating that the product category fell outside his core interests.
Barbara Corcoran sat out this episode, with Maria Sharapova filling her seat. Robert Herjavec also missed this episode, limiting total Shark participation to five. The absence of both regular sharks changed standard tank dynamics.
Daymond John saw potential in licensing deals, offering $500,000 for 15% equity. However, the entrepreneurs maintained their stance against licensing arrangements to protect their brand vision.
Kevin O'Leary proposed $500,000 for 2.5% equity, adding a $1 per unit royalty until reaching $1 million. While this structure aligned with his typical investment approach, it raised concerns about long-term profitability impact. Lori Greiner's initial offer of $500,000 for 12% equity included the charitable component, showing awareness of brand values.
The negotiations shifted when the founders proposed a 5% equity cap. Daymond John expressed frustration when they resisted his licensing suggestions. After reducing his equity ask to 10%, Daymond walked away from discussions.
The final focus remained on Lori Greiner's offer, which balanced equity requirements with charitable goals, and the founders accepted it.
Post-show journey
As per Shark Tank Blog, the deal with Greiner did not close. However, Fur secured placement in major retail chains. Their products reached the shelves of Neiman Marcus, showcasing their premium market positioning.
Urban Outfitters and Free People added Fur products to their offerings, broadening the brand's accessibility to younger consumers. The partnership with Goop strengthened its presence in the luxury wellness sector, while Credo's focus on clean beauty aligned perfectly with Fur's natural ingredient standards.
By April 2023, Fur's annual revenue climbed to $5 million, maintaining steady growth from their Shark Tank appearance. The company expanded its manufacturing capabilities to meet increased demand, and their Amazon sales rankings improved significantly post-show.
Fur maintained premium pricing while scaling production, preserving profit margins. Direct website sales grew alongside retail expansion, proving their omnichannel strategy effective. Major beauty publications like Vogue and Refinery29 highlighted Fur's innovative approach to personal care.
Shark Tank season 16 episode 11 is set to air on February 7, 2025, on ABC network.
