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Simple Sugars Shark Tank Update

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Simple Sugars are an all-natural skincare line. Simple Sugars offer scrubs to cleanse and exfoliate one’s skin. There is no need to moisturize after cleaning because the scrubs moisturize, hydrate, and clean simultaneously.

People who have sensitive skin are prone to more skin problems and to protect them from those, Simple Sugars offers products made from 100% natural ingredients. Simple Sugars offers a variety of skincare products, such as body lotion, facial products, men’s goods, and foot care, packaged in gift boxes of various sizes.

Simple Sugars at a Glance:-

IdeaSkincare cosmetics for Men and Women
FoundersLani Lazzari
Asked For$100,000 For 10% equity
Accepted Deal$100,000 For 33% equity
SharksMark Cuban
Business statusIn Business
Episode No.Season 4, Episode 20
WebsiteSimple Sugars
Buy on AmazonBuy Now!

Index:

Who are the founders of Simple Sugars?

11-year-old entrepreneur Lani Lazzari is the founder of Simple Sugars. She suffered from the discomfort caused by a severe case of eczema. She showed the spirit of an entrepreneur when she was in third grade and sold scrunches’ to her classmates. So, when no medicine worked in her favor against the skin disease, she discovered Simple Sugars.

She created a product through experiments in the laboratory and tried it on her aunt. Her aunt got relief from psoriasis and eczema and that is how Lani Lazzari got the idea to introduce Simple Sugars into the market. She took a six-week gap from her regular school period to do a cross-country tour. After completing her graduation in 2012, she was approached by the ABC show crew to kind of publish her brand on Shark Tank.

Did Simple Sugars get a deal on Shark Tank?

Lani enters the shark tank seeking an investment of $100,000 at the exchange rate of 10 % equity. The founder of Simple Sugars impressed the sharks with their pitch and excellent product business. After pitching, Daymond John shared that Lani is a fantastic entrepreneur and she didn’t need any sharks and went out. Lori Greiner felt the market was too crowded and went out.

Kevin O’Leary shared that there is too much competition in the cosmetics market and he didn’t like the valuation demanded and left. Robert Herjavec said” I can’t give you an offer you expect or can accept, and turned out. Mark Cuban appreciated Lani and her business, Simple Sugars. Mark gave an offer of $100,000 in exchange for 33% equity in the business.

Lani gave a counter offer of $100,000 in exchange for 25% equity. Mark said it was a non-negotiable offer as he was taking a huge risk so he couldn’t go down with equity. Lani Lazzari accepted the deal and took her signed check with Mark’s back.

What happened to Simple Sugars after Shark Tank?

After Shark Tank, Simple Sugars were spread and merged everywhere in the market in very quality time like sugar mixes itself with every substance. Once the show aired, in three days, Simple Sugar received an order of $60,000 and in a week it touched $ 1 million in sales. Lazzari wasn’t expecting or prepared for the figure. Lani said they were expecting sales between $20,000 and $50,000. Mark Cuban was a consistent guide and supporter of Lani and Simple Sugars. Mark also mentioned that it is one of the greatest and best investments he ever made.

See also  GoalSetter Shark Tank Update

After a week, Simple Sugar’s website was filled with thousands of emails and calls. It was a go-or-make moment for Simple Sugars. Lani hired 22 more employees to manage the business and orders. Earlier, there were only Lani, her mother, and 2 other employees. Around 600 bags of sugar were needed for per day production. Mark and Lani took this opportunity and achieved $2.3 million in sales by the year-end. In 2014, they were also recognized in the top 12 successful businesses outside of Shark Tank.

In 2016, Simple Sugars made some additions to its product line. They launched Smooth for men, who parking baa baby line along with facial, body, and foot scrubs. The Pittsburgh unit of Simple Sugars has employed 13 people and achieved $2.5 million in sales by 2018.

During the pitch, they asked for a valuation of $1,000,000 but by the end of the pitch, Mark gave an offer valuation of $303,030.30 and that deal was a changing moment for Lani as the valuation of the company was going high, and high.

Simple Sugars operate from both the online and the online mode. 85% of its sales are generated from online platforms. Simple Sugar captured the space in various offline stores too, which includes brick and mortar, Beauty Brands, Dillard’s, Central Market, and Giant Eagle.

In the Smooth for men category there are various options; Coconut body, Blueberry body, Vitamin C facial, Almond body, Green Tea Facial, Smoothness to go, and many more. You’ll get 5% off if you get a subscription, so, go and grab the offer. Mark said she’d achieve $20 million in sales soon, and she will do that by 2021. She has a total lifetime sales of $33 million. Lani had started to sell one product at a time, which did it all for her.

Competitors of Simple Sugars:-

  • Maybelline
  • Estee Lauder
  • L’Oreal
  • Shiseido

What is the net worth of Simple Sugars?

The valuation for the shark tank show was $1,000,000, which was later valued at $303,030.30 by Mark Cuban. The estimated net worth of Simple Sugars was $6 million as of July 2021. As per the current year, 2022, they have a net worth of $10 million.

Is Simple Sugars still in business?

Simple Sugars is no more simple and it is in operation and doing miracles. Simple Sugars made various additions after the show; a Smooth line for men, a baby line, a scrubs addition, and various other products in them.

Simple Sugars has been unstoppable from the beginning of its journey and Mark Cuban is the biggest supporting hand, back for Simple Sugars, his advice, connection, and experience made it all. Simple Sugars holds lifetime sales of $33 million per day in 2021, which has increased up to a huge figure. Simple sugars are doing great. Bizz Bucket wishes more success to them.

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FAQs:

What is Simple Sugars?

Simple Sugars are an all-natural skincare line. Simple Sugars offer scrubs to cleanse and exfoliate one’s skin. There is no need to moisturize after cleaning because the scrubs moisturize, hydrate, and clean simultaneously.

Who founded Simple Sugars?

11-year-old entrepreneur Lani Lazzari is the founder of Simple Sugars. She suffered from the discomfort caused by a severe case of eczema. She showed the spirit of an entrepreneur when she was in third grade and sold scrunches’ to her classmates

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