Polish & Plates
Polish & Plates

This week, Tilman Fertitta meets with Caitlin Picou of Kismet Cosmetics.

Kismet Cosmetics is a lipstick brand with “a cautious owner” who keeps the business moving forward, according to the episode description. Their makeup lines are created by the team behind Kismet, in addition to local fashion bloggers and designers. According to their website, “We wanted to create a beauty brand that works with your clothing. We wanted to think of this brand as a fashion brand, not just another beauty line.” Their collections include lip gloss, bath bombs, bronzing lotion, illuminators and more.

Fertitta is immediately impressed by their coloring and packaging, but is concerned that she doesn’t have full-time help for orders. He is also discouraged when she says she doesn’t have a business plan. She currently does about $55,000 per year in revenue but hopes to increase to half a million in the next five years.

For their challenge, he puts their cosmetics line up against a leading national brand at the Golden Nugget. Ultimately, people seem very impressed with Kismet, including Fertitta, who tries the lipstick for himself. He calls their lipstick smooth and even kisses the mirror to cast his vote. Adding an additional layer to the challenge, he asks them to go out and sell some lipsticks, which does not go as well since the owner is not as much of a natural salesperson as her part-time worker Brittany.

After meeting with the entrepreneurial school at the University of Houston, Picou presents her business plan, which includes bringing Brittany on full-time for sales and marketing and getting a line of credit in order to pay her salary. On Bid Day, they explain that they hope to expand, but Fertitta is concerned that they won’t hit their large projection numbers. They ask for a $30,000 purchase order for five boutique locations ($500 per store). He wants to put the products in 11 locations, which totals a $55,000 order in year one with his updated numbers.

According to CNBC, the reality television show “introduces promising companies across the country to one of America’s most successful businessmen: billionaire hospitality mogul Tilman Fertitta, Chairman, CEO, and sole shareholder of Landry’s, Inc.” Featured entrepreneurs present their small business to Fertitta in the hopes that he will place a large purchase order. But before they make their pitch, they must prove to the hospitality mogul that their product is worth it through challenges and customer feedback.

Social Media Reacts to Kismet Cosmetics’ Appearance on “Billion Dollar Buyer”

Would you buy products from Kismet Cosmetics? Did you like Fertitta’s offer? Sound off in the comments section below!

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