Take a while to think do you have a makeup set that is compact and portable to go anywhere but nothing to back up the routine of the nail polish. Here comes the accessory just for you a 3 in 1 accessory that contains the nail polish the pads and nails polish remover to remove it cleanly without any hassle.
It is the most compact portable product in cosmetic history that has made astounding sales in the time of its lifetime. Try one today!
Nail Pak at a glance:
- 3 in 1 accessory that contains the nail polish the pads and nail polish remover.
- Founder: BABARA LAMPUGNALE
- Asked For $50,000 for 20% at $250,000 valuation on Shark Tank.
- Received $50,000 from Lori in exchange for 40% equity.
Index:
Founders Story:
The product was developed by BABARA LAMPUGNALE who had developed the company known as Duality Cosmetics. This company had seen a revolutionary product but the numbers were sad.
The company now has changed its name to Nail Pak and then to Grace Nail. The idea of Nail Pak came to Babara after consulting with her six daughters who were putting nail polish on one afternoon. After putting it on they saw a huge hassle in removing it when Babara decided to pitch her idea to her daughters she came up with the idea of creating 3 in 1 accessory and Paulina said this is a million-dollar idea. Nail Pak was a unique package that included nail polish, remover, file, and pads 3 in 1 in a polish bottle kit.
Nail Pak at Shark Tank:
Babara had the background to invest money into her business which led to investing $300,000 in the company. When she told the sharks this, they were shocked.
Mark wanted to know where she got the money from. She told them that she was in the real estate business with her husband and had made a profit there that she had invested in the business.
Babara went into the shark tank seeking an investment of $50,000 for 20% equity of the company. Babara started by displaying the products and how it contains all the things required for the removal of nail polish and the polish itself as 3 in 1 accessory pack.
She also told the sharks that her patent pending on her product as she distributed the samples to every shark. Robert asked for the selling price and manufacturing cost, to which she replied $3 for manufacturing and sold at $14.99 each. Robert soon realized the dedication shown on the product but felt that he could not help to sell the product so he was out. Mark could not see the potential of the product becoming a business so he was out. Kevin loved the margins and looked at Lori and said that if the product would go on QVC it would really help.
Kevin said that it would be less risky if he went on in with Lori. She refused and made an offer of $50,000 for 51% of the company. Barbara countered the offer by Lori to $50,000 for 40% equity of the company. Kevin says she should not take the deal but Barbara sees the potential of Lori and accepts the offer and the lucrative QVC backing too.
What Happened to Nail Pak After Shark Tank?
The QVC Queen saves the day by selling 10,000 bottles the next day on QVC and she made a deal 2 weeks later with Ulta beauty and has spread to 500 stores of the company now they are not selling on amazon. The business continues well with the huge stores reach by shark’s support.
Net worth of Nail Pak:
At the time of the shark tank appearance, Nail Pak was valued at around $125,000. They sold 10,000 bottles and made $149,900 at that one shot on QVC. They had made $750,000 before the shark tank update.
The cost of making one is $3 and sold at $14.99. Sharks were assured that the product had great margins in it. (More than 4 times really !!!). Products are being sold online on their website and on Amazon. Also sold in stores like Ulta beauty.
Investors in Nail Pak:
- Lori is the queen of QVC and invests in many female entrepreneurs.
- She is an inventor and investor with a net worth of $150 Million.
- She started off with an earrings company.
Competitor analysis of Nail Pak:
| OPI Nail polish | Essie L’oreal | Revlon |
| Over 1000 colors | 260 colors | More than 64 colors |
| Whimsical names ,long-lasting formula | Convenience and some color variety | Focus on R&d and product variety |
| Doesn’t have social media backup, not available on the website | Lack of scale concentrated customer | No product variety |
Is Nail Pak still in business?
This company is profitable and has increased sales through the years. The Nail Pak has grown multifold now into a new company called GRACE NAIL and doing well.
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What is Nail Pak?
Nail Pak is 3 in 1 accessory that contains the nail polish the pads and nails polish remover to remove it cleanly without any hassle.
Who founded Nail Pak?
The product was developed by BABARA LAMPUGNALE who had developed the company known as Duality Cosmetics.