"Tell them how powerful we are" - When Shark Tank investors turned redheads during Shark Tank pitch

Redhead beauty brand founders Adrienne and Stephanie Vendetti secured a $350,000 investment from Mark Cuban for 15% equity during Shark Tank season 15 episode 14, which aired on February 16, 2024. The University of Miami Herbert Business School graduates brought red wigs for each Shark while presenting their beauty products made specifically for redheads.

Their product line included mascara manufactured at $4 and retailed at $26, achieving a 55% customer reorder rate and a $55 average order value. During the product demonstration, as the Sharks tried on red wigs and tested the makeup, Mark Cuban playfully declared:

"Tell them, sister. Tell them how powerful we are."

The Shark Tank pitch marked one of the few times Sharks physically transformed to experience a product's target market perspective.

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How to be a Redhead founders convinced Shark Tank investors to try red wigs during the pitch

Adrienne and Stephanie Vendetti made their entrance in Shark Tank with carefully arranged product displays and a strategy to make their presentation memorable. They handed out red wigs to the Sharks, creating a unique atmosphere where investors experienced the redhead perspective firsthand.

Their product line serves the specific beauty requirements of red-haired individuals, who represent 2% of worldwide consumers.

The sisters explained their motivation came from personal struggles to find suitable beauty products. When describing their target market, they highlighted 157 million natural redheads globally, plus individuals who color their hair red.

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Business numbers behind the brand

The Shark Tank company's financial presentation revealed consistent growth across all metrics. Sales reached $833,000 in 2022, with 2023 projections aiming at $1.1 million. Their manufacturing model keeps costs at $4 per unit while maintaining a retail price of $26. Customer data shows strong market acceptance with a 55% reorder rate and a $55 average order value.

The business evolution spans 12 years, accumulating $4.4 million in total sales without any outstanding debt. Their product range includes specialized eyebrow formulations, mascara options, and hair care solutions designed for those with red hair and associated characteristics.

The direct-to-consumer sales approach proved successful, complemented by their podcast reaching 10,000 listeners per episode. The sisters emphasized their extensive market research, showing how major beauty retailers lacked dedicated sections for redhead products.

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Offers and negotiations

Shark Tank investor Mark Cuban (Image via Getty)

Mark Cuban led the discussion by asking about their growth strategy. The sisters detailed their plans to expand distribution while maintaining their direct-to-consumer success. Kevin O'Leary followed with a structured offer of $350,000 for 10% equity plus a $2.50 royalty per order until repayment, dropping to $1 afterward.

Shark Tank investor Lori Greiner evaluated the packaging and suggested making the logo more prominent. Despite appreciating the brand concept, she decided not to invest. Robert Herjavec examined the market size but stepped away from making an offer. Barbara Corcoran praised their entrepreneurial skills yet stated they had achieved success without requiring a Shark's help.

Mark Cuban presented his vision for transforming How To Be A Redhead into a complete lifestyle brand. He offered $350,000 for 15% equity, emphasizing his commitment to building their community. The sisters accepted his offer without further negotiation, recognizing his alignment with their brand values.

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Post-show developments

Following the broadcast, How To Be A Redhead experienced significant growth, per Shark Tank Blog. Sales surged by 544%, accompanied by substantial website traffic increases. The company maintained efficient operations, ensuring prompt order fulfillment despite the sudden demand spike.

In an exclusive interview with Shark Tank Blog published on February 27, 2024, Stephanie Vendetti confirmed their preparation paid off, stating:

“We’ve always been a fan of the show and really felt our redhead beauty brand was ready for the platform and an investment. Our sales are up 544% and traffic soared on the website. We were very prepared and all our orders shipped quickly to all customers.”

The deal with Mark Cuban moved forward successfully, with both parties expressing enthusiasm about their partnership. The company launched a rebranding initiative while working to develop a more inclusive product range. Their expansion strategy includes creating neutral products suitable for various redhead shades.

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Watch new episodes of Shark Tank on ABC network.