Jay Leonard
Melissa Butler and Rosco Spears are pitching Lip Bar to the Shark Tank. They say their products are proof that beauty and health aren’t mutually exclusive. Instead, they combine hot, popping colors with natural ingredients that soften and moisturize.
Melissa says Lip Bar arose from her frustration: why does lipstick come in such a limited color palette, and why so many chemicals? She wanted something bold, and natural. The product is available in colors ranging from traditional pinks, reds, and nudes to bright blues and greens, and every shade is made with organic fair trade shea butter, and organic castor and avocado oils.
They also have an app that allows a customer to design her own shade, and are in the process of creating what they call the Lip Bar Mobile — a mobile shop with a ‘bar’ and mirror, where customers can see the shades and buy in person. (This notion caused Mark Cuban to do a literal face-palm, Kevin O’Leary to shake his head and groan, and Robert Herjavec to laugh and say, “This is such a bad idea.”)
If the sharks invest in The Lip Bar,
They’re asking for a $125k investment, and offering a 20% stake in the company.
The Lip Bar team has made $107k in two years. Melissa is making the product at home, by hand, at a cost of $3 per unit, and selling it for $20 per unit.
Kevin O’Leary was the first to voice a concern. The makeup industry is huge, a multi-billion dollar industry. If blues, greens, and purples would sell more lipsticks, wouldn’t the big companies already have them on the shelves?
Lori Greiner had another concern. This centered on buying cosmetics online. A color that looked right on-screen might not be the same in person.
Robert chimed in next, bothered by the branding. “I’m not sure I’d want my daughter picking up lipstick with a martini glass and very sexual lips on it.” With that, he was the first Shark to bow out on Lip Bar.
Maintaining that there is no market for the product and that if there was, the big companies would “crush [Lip Bar] for the colorful cockroaches you are,” Kevin turned the investment opportunity down next.
Melissa addressed Daymond John directly, but he replied, “You are never going to create anything new in this world. You know, it’s lipstick. I’m out.”
Mark Cuban called the cocktail theming an antithesis to the brand’s confidence-based market, and he, too, was out.
Lori Greiner, citing the amount of competition in the cosmetics market, also declined to invest.
Lip Bar’s creators left the Shark Tank with no investment.
Photo: Lip Bar
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This article was written for Business 2 Community by Jay Leonard.
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Why is the author entitling this as if calling black women roaches is a cute quirky comeback, instead addressing the fact that it was uncalled for and dehumanizing?
I don’t understand why he would make such racist remarks and no one said anything. They are beautiful Black women. If you didn’t want to buy in that’s all you had to say not that are cockroaches. I only watched the show maybe once or twice never again. The neon colors are selling just like nail Polish. What a racist bully you are!
Actually it has nothing to do with racism. I as a black man do not rush to make everything about race without considering context and history of the person making the statement. He has literally made the same cockroach line almost verbatim to other contestants. Here is just one example to prove it’s not about race whatsoever. If you don’t watch it, that’s up to you, but if you really want the facts because facts matters go ahead and watch it. At most you can make the claim that he is an a-hole, but his cockroach comment was in no way racist whatsoever, and this video shows how has used this canned line before.
http://abc.go.com/shows/shark-tank/video/VDKA0_0yk6flpc
You need to stay silent because you dont kno his true motivation. And as a black man you should know racism when you see it
I rarely watch the show, but has he called any males cockroaches? Do you know? I dont understand how he feels that is appropriate and professional. I can care less how wealthy you are. You don’t call people cockroaches.
Because of what he said.About roaches he should be ashamed of his self will never watch again fire him he’s rich he’ll be ok
I can’t believe he said that back in Feb. And is still on the show. I will never watch it again. The network should have kicked him off for that nasty slur.
O’Leary’s remark is wrong whether or not it was motivated by race. He likes to insult people and it seems he may feel his money and staus entitles him to do so and makes it okay. It does not. I’ve seen him call a white woman a cockroach too. Could be he has a thing against women.
O’Leary’s comment about “colorful cockroach that you are” shows his true deep down character. He’s a racist pure and simple. And he thinks he’s entitled to make such comments because he continues to get away with it. If all of his enterprises were boycotted for his disrespect of anyone without his money, he’d change his tone. Money does not make you a god. May he reap 7 times what he sows. What goes up, eventually comes down.