No Mo-Stache Waxing Kit: What Happened To The Brand After Shark Tank?
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Every entrepreneur who enters ABC's famed "Shark Tank" shares the same dream — whipping the Sharks into a feeding frenzy and watching their business benefit as the investors compete over who can offer the best deal. Many times, this wish falls quite far from reality, and the fledging brand either takes the only offer on the table or walks away without securing a deal at all. Episodes that depict the Sharks truly fighting it out over a promising young business seem increasingly rare — much to our disappointment.
When the founders of No Mo-Stache appeared on Season 9, Episode 8 of the hit reality show, they delivered exactly what viewers and contestants are always on the lookout for. After a lively debate amongst the panel, the founders walked away with a team of two Sharks on their side. Did nabbing such an enthusiastic investment secure the brand's future, though, or did it still manage to fall flat?
No Mo-Stache's Shark Tank pitch
Jennifer Paschall and Gita Vasseghi presented their portable waxing kit to the "Shark Tank" investors, requesting a $100,000 investment for 25% equity in the company. The kit contained cold wax strips for the upper lip and a packet of aloe cream, all in a cute, pocket-sized travel tin. Real Housewife of New York City and Skinny Girl CEO-founder Bethenny Frankel questioned the validity of the product — that is, until she tested a strip on Mark Cuban's arm. Impressed by the lack of residue left behind, she quickly changed her tune.
Meanwhile, Kevin O'Leary prepared to offer the entrepreneurs one of his famous royalty deals. He offered to invest $100,000 in return for 10% equity and a royalty payment of $1 per unit until a sum of $300,000 had been repaid. Before the founders could respond, Frankel swooped in with an offer of $100,000 for 40% equity with the understanding that the kit would be rebranded. Upon hearing Frankel's idea for including the waxing kit in a larger "emergency" kit for women, Lori Greiner joined in on her offer.
When the founders expressed interest in a deal with Frankel and Greiner, O'Leary revised his offer to $100,000 for 10% equity and a royalty payment of $0.50 per unit sold. Greiner and Frankel responded with an offer of $100,000 for 35% equity plus a royalty payment of $1 per unit until their investment had been repaid. The No Mo-Stache founders counter-offered $100,000 for 25% equity and a royalty repayment of $200,000 — and Greiner and Frankel agreed.
No Mo-Stache after Shark Tank
Since its appearance on "Shark Tank," No Mo-Stache, which doesn't appear to have been rebranded under the Skinny Girl name, has soared to new heights. When the brand appeared on the show, it had made $400,000 in sales over a two-year period and was being sold in 60 of Sephora's 200 retail stores. However, in Season 10, Episode 13, "Shark Tank" aired an update on No Mo-Stache. In the segment, the brand's founders sat down with Bethenny Frankel and the founder of another brand the Shark had invested in. Lori Greiner was not present or mentioned despite seemingly striking a deal with them.
The update confirmed that No Mo-Stache was working with Frankel to create the ultimate survival kit for women, as the founders shared their design for additional designs. Then, they were then shown donating products to Dress for Success — a non-profit organization that helps underprivileged women acquire professional attire. At the end of the segment, Frankel revealed that the two brands she'd invested in had brought in a combined $3 million in sales, though it's unclear how much of this was specifically generated from No Mo-Stache sales.
Is No Mo-Stache still in business?
There's no doubt about the fact that No Mo-Stache is still in business. The brand's products are currently available on its website, as well as on Amazon and in Target, Revolve, and Anthropologie stores. Since it appeared on "Shark Tank" in 2017, the brand has significantly expanded its line of products from the lone lip waxing kit it started out with. Brow and bikini wax kits are now available, as well as facial razors, facial cleansing brushes, and hand mirrors.
No Mo-Stache has also ventured into the worlds of gift sets and influencer marketing. The brand's website features an application for becoming a brand ambassador and offers perks like free products, sales commissions, and discounts. No Mo-Stache has also launched an educational YouTube channel that provides instructional videos depicting how to properly use its products for safe hair removal, although engagement on the platform is low.
Outlook for No Mo-Stache
The success No Mo-Stache has already experienced suggests that it will continue to perform well in the future. The brand continues to engage with its customers and promote its products on Instagram and TikTok on a regular basis, and its LinkedIn profile is active. Whether the all-inclusive women's emergency grooming, hygiene, and wardrobe kit alluded to in the brand's "Shark Tank" episode, as well as its update segment, will ever come to fruition remains to be seen, however.
What does seem to be clear is that No Mo-Stache is well-established in the hair removal industry. Third-party sites like BizNewske claim that the company had a net worth of $1 million as of 2021 and brings in $4 million in sales annually, but these numbers don't appear to be backed by reputable sources. Nevertheless, there's no evidence to suggest the business is struggling in any way, and the future for these entrepreneurs looks bright. It seems to hold true that the Sharks spotting a company worth competing over holds a great deal of value.