Next up is Saavy Naturals, created by professional chefs, that sells edible beauty care products. They are seeking $200,000 for 10 percent equity.
Key Takeaways:
- Product: Edible beauty care products made with food-based ingredients.
- Investment Ask: $200,000 for 10% equity.
- Shark Response: Barbara Corcoran invested $100,000 for 40% equity, along with an additional $100,000 for purchase orders.
- Post-Show Success: Saavy Naturals continues to expand its product range and retail presence with Barbara’s guidance.
What is Saavy Naturals? A Quick Overview
Created with food-based ingredients, Barbara Corcoran is the first to taste saying it tastes like “perfume and sugar.”
They do not sell online and had troubles in the beginning when they lost control with a previous investor.
Alright Saavy u have my attention, I ❤️ beauty products. Gotta try to keep a youthful appearance without going under the knife! #SharkTank
— Irma✨ (@tangled30) November 7, 2015
They sell their products from anywhere between $6 to $15 and include bar soaps, lotions and more.
Kevin O’Leary states the obvious that it is a commodity but does not agree with what they are seeking. As a side note, Debra Saavedra details how she and her partner Hugo ended up together. Despite the sweet story, Mr. Wonderful goes out.
Mark Cuban sees it as too competitive so goes out as well. For the same reason, Lori Greiner goes out.
natural beauty products that you can 'eat'! @saavynaturals #Sharktank would you 'eat' your beauty items?
— LindaODellAuthor (@Letters4theLord) November 7, 2015
Corcoran is interested in having them change their name, which they have no qualms with, but wants to take 50 percent of their company. They counter but she goes out before they even give a number.
Robert Herjavec acknowledges the importance of it being all natural and offers $200,000 for 45 percent. Given that, Corcoran comes back in for $100,000 for 40 percent equity and $100,000 in funds for purchase orders. They quickly accept.
So great to see @saavynaturals on @sharktankabc ! These are the faces of another #sharktanksuccess! #saavynaturals… pic.twitter.com/blheu0e6lT
— Melrose PR (@MelrosePR) November 7, 2015
Final deal: Barbara Corcoran for $100,000 for 40 percent with $100,000 for purchase orders.