The story of LipStix ReMix stands as a testament to both the potential and challenges that emerge after a promising appearance on the iconic show “Shark Tank”. A brainchild of Jill Quillin, LipStix ReMix debuted on the show with a groundbreaking concept: a lipstick kit that maximizes the utilization of every last bit of lipstick while fostering creative possibilities for users.
The product’s presentation on the show caught the attention of the Sharks, leading to investments that catalyzed initial success and growth. However, the journey of LipStix ReMix took a turn, leading to a significant development in 2013 that compelled the discontinuation of the product.
In this article, we delve into the post-“Shark Tank” trajectory of LipStix ReMix, exploring the company’s rise, the pivotal moment that marked its decline, and the enduring impact it has left on both the cosmetic industry and the entrepreneurial landscape. From increased sales to unforeseen challenges, the story of LipStix ReMix offers valuable insights into the complexities of navigating the business world even in the face of innovative and promising concepts.
What Is LipStix ReMix?
The prime allure of LipStix ReMix resides in its formulation sourced exclusively from natural elements, thereby rendering it suitable for all skin types. Moreover, LipStix ReMix proudly boasts an absence of parabens, sulfates, and phthalates. This distinctive trait renders it a splendid selection for individuals on the quest for an organic and secure substitute for conventional lip color products.
The inception of LipStix ReMix emerged from the ingenuity of four sisters on a quest for a harmless and natural technique to imbue their lips with vibrant hues. Employing their signature blend of shea butter, beeswax, and assorted natural components, these sisters culminated in the creation of the ultimate lip shade. The LipStix ReMix spectrum encompasses a myriad of tones, ensuring an ideal match for each individual.
For those desiring an organic and secure means to infuse their lips with resplendent shades, the optimum option lies within LipStix ReMix. Its meticulously curated natural elements bestow universal skin compatibility and a complete exemption from parabens, sulfates, and phthalates. LipStix ReMix proves to be an exceptional preference for those seeking an unconventional route in the realm of lip color products.
About Founders Of LipStix ReMix
Conventionally, a disheartening aspect prevails in the cosmetic industry: around a third of the lipstick’s content is consumed for securing the product within its container. This lamentable reality is a familiar plight, with limited avenues for resolution [2].
The sole recourse seems to be the uncomfortable act of discarding partially used lipstick tubes. Conscious of this predicament, Jill perceived the urgency and embarked on the journey to formulate a makeup kit that not only optimizes product usage but also ignites creativity.
During the nascent stages of establishing LipStix ReMix, Jill initiated the production of these kits from the comfort of her own abode. Her initial aspiration was to cultivate a work-from-home arrangement that would facilitate more cherished moments with her family. Nonetheless, she soon encountered obstacles that impeded her course. Given that her product predominantly caters to women, Jill encountered challenges in promoting her offerings adequately to her target demographic.
Seeking an avenue to garner both marketing exposure and financial backing, she decided to seize the opportunity presented by ABC’s Shark Tank in the hopes of securing investment and amplifying her business’s reach.
The Pitch Of LipStix ReMix At Shark Tank
Entering the Shark Tank with a proposition for $ 105k in exchange for a 30% stake in her venture, Jill initiates her pitch by detailing the inspiration that fueled her product’s creation [3]. As a mother navigating an often unpredictable economic landscape, instances of luxury are seldom granted. When confronted with the wastefulness of seeing $ 250 worth of product unused, an inherent desire to rectify the situation took root.
Jill’s response was proactive – she conceived a solution that enables individuals to salvage the residual lipstick from tubes, either using it as it is or blending it with other lipsticks to formulate entirely novel shades.
Illustrating her innovation, Jill proceeds to showcase the process. She introduces a snippet of lipstick into a microwave, subjecting it to around 45 seconds of warmth. The liquefied lipstick is then carefully poured into her specially crafted lipstick mold, which subsequently undergoes a brief period of freezing, approximately 10 minutes. Jill completes the process by demonstrating how a pre-made LipStix ReMix can be paired with the reimagined lipstick. She positions the new lipstick canister atop the mold and effortlessly presents the judges with the final product.
Inquisitive about the modified product’s quality, Kevin O’Leary probes into potential alterations in its application and queries whether one could discern a distinction between a freshly made lipstick and one that has been subjected to the microwave treatment. Jill promptly addresses his concerns by revealing that lipstick manufacturers often employ multiple rounds of heating during their production process, ensuring that the quality remains unaffected.
Interjecting with his perspective, Robert Herjavec humorously highlights his status as a non-lipstick-wearing individual, deferring the evaluation to his fellow Shark, Barbara Corcoran. Barbara lauds the ingenuity of LipStix ReMix, deeming it “clever”. In unison, both women acknowledge the exhilaration associated with the acquisition of new lipstick.
Following the pitch, Kevin Harrington initiates the questioning, inquiring about Jill’s current sales channels. She reveals her initial success of around 800 units sold at a local market and a further 250 units during a Christmas mall setup, amounting to $ 6k in sales. Each LipStix ReMix kit retails for $ 19.95 [4].
While Jill has seen moderate accomplishments, Robert Herjavec offers his perspective, emphasizing that the true potential for her product lies in securing a place on a television shopping channel. He explains that this is the most viable path for substantial success, given his belief that retail or wholesale avenues might prove challenging. Consequently, he opts out of investment due to these concerns and his limitations in facilitating television marketing.
In contrast to Herjavec’s stance, Jill believes her product could thrive on retail shelves, citing examples of products that initially gained traction through television sales before transitioning to retail. She expresses her intention to utilize the requested $ 105k to test LipStix ReMix in supermarkets and subsequently venture into television retailing. She envisions a future where her lipstick kits will grace retail markets, asserting her confidence in their marketability.
Kevin O’Leary commends Jill’s presentation skills but remains uncertain about investing due to his limited knowledge of the lipstick market. Similarly, Barbara Corcoran appreciates the concept’s potential but offers only half of the requested amount for half the equity. She proposes becoming a partner with another Shark to cover the remaining half.
Harrington steps in, willing to invest the other half for a 40% stake. However, Daymond John also expresses interest, offering the entire $ 105k for 40% equity but with the condition of sharing control over retail and television markets. While Corcoran initially opposes this, John views the division of roles as practical.
After a brief discussion among the Sharks, Harrington suggests a three-way deal where they all contribute $ 35k for a shared 40% equity, which Corcoran declines. Ultimately, the offer comes down to Harrington and John. Jill requests a moment outside the Shark Tank to consult her husband, her business partner, who supports the 40% deal. Upon her return, Corcoran has reconsidered and offers to join the deal, albeit now requiring 50% equity. Initially hesitant due to the increased equity exchange, Jill ultimately accepts the deal after careful consideration.
LipStix ReMix After The Shark Tank
Subsequent to her appearance on Shark Tank, Jill Quillin achieved a degree of success propelled by the investments from the participating Sharks. The infusion of capital contributed to a surge in sales, fostering a period of robust performance. However, a setback emerged in 2013, prompting Jill to make the decision to discontinue the production of LipStix ReMix lipstick kits. She conveyed this news through her diverse social media platforms, expressing gratitude for the support received throughout the journey [5].
The Net Worth Of LipStix ReMix
LipStix ReMix has made its presence felt on the Amazon platform, and according to Amazon’s records, the product has garnered exceptionally positive feedback from customers. Numerous women have expressed their satisfaction with the product, highlighting their contentment.
Alternatives To LipStix ReMix
LipStix ReMix is a lipstick repair kit that allows users to recycle their old lipsticks and create new shades.
If you are looking for alternatives to LipStix ReMix, here are a few options you can consider:
- Lipstick Palette: Instead of repairing old lipsticks, you can opt for a lipstick palette that offers a range of colors. These palettes usually contain multiple shades that can be mixed together to create custom colors;
- Lipstick Mixing Kit: Some brands offer lipstick mixing kits that allow you to mix different shades of lipstick to create new colors. These kits typically include empty containers and tools for mixing and blending the lipsticks;
- Lipstick Recycling Programs: Some cosmetic brands and retailers have recycling programs where you can return your old lipsticks and receive a discount on new products. These programs aim to reduce waste and promote sustainability;
- DIY Lipstick Recipes: If you enjoy do-it-yourself projects, you can try making your own lipsticks using natural ingredients. There are many recipes available online that guide you through the process of creating your own lip colors;
As of 2023, LipStix ReMix encountered a singular contender in the cosmetic industry: The Original Lipstick Remover [7].
Remember to do your own research and read reviews before trying any alternative products. Each option may have its own unique features and benefits, so it’s important to choose one that aligns with your preferences and needs.
FAQ:
- Is LipStix ReMix still in business?
No, it is not in business, according to the latest statement by its founder [8].
- What comes on after Shark Tank for the businesses?
After appearing on Shark Tank, businesses have the opportunity to receive investment offers from the “sharks” on the show. If a deal is made, the entrepreneurs and the sharks negotiate the terms of the investment, and if an agreement is reached, the entrepreneurs receive the investment in exchange for equity in their company.
Once the deal is made, the businesses can benefit from the expertise, resources, and network of the sharks who invested in their company. The sharks can provide guidance, mentorship, and connections to help businesses grow and succeed. Additionally, appearing on Shark Tank can also provide significant exposure and publicity for the businesses, which can lead to increased sales and opportunities for growth.
- What is the most successful product on Shark Tank?
It is difficult to determine the most successful product on Shark Tank, as the success of a product can be measured in various ways, such as revenue, profitability, market impact, and longevity. However, some of the notable success stories from Shark Tank include the Scrub Daddy, a sponge that has generated millions in sales, and the Ring, a home security system that was acquired by Amazon for over $ 1 billion.
Each season of Shark Tank features a variety of products and businesses, and the success of a product often depends on factors such as the quality of the product, the effectiveness of the pitch, the market demand, and the entrepreneurial skills of the founders.
- Does Shark Tank still exist?
As of August 2023, Shark Tank still exists as a television show. Shark Tank first premiered on ABC in 2009 and has since become a popular reality TV series. The show features aspiring entrepreneurs who pitch their business ideas to a panel of investors, known as the “sharks”, who then decide whether to invest in the businesses. Shark Tank has had multiple seasons and continues to air new episodes, providing a platform for entrepreneurs to showcase their products and seek investment.
However, please note that TV shows can change or be discontinued over time, so it is always a good idea to check the latest information from reliable sources or the show’s official website for the most up-to-date information.
- Which Shark Tank business failed?
There have been numerous businesses that did not succeed after appearing on Shark Tank. The success of a business is not guaranteed even if it receives an investment in the show. Factors such as market conditions, competition, and the execution of the business plan can all contribute to the success or failure of a Shark Tank business.
Without specific details about a particular business, it is challenging to provide an accurate answer about which Shark Tank business specifically failed. However, it is common for businesses to face challenges and ultimately fail, even after appearing on Shark Tank.
- Has Shark Tank made anyone rich?
Yes, Shark Tank has helped many entrepreneurs become financially successful. The show provides a platform for entrepreneurs to pitch their businesses to a panel of investors (the “sharks”) who can provide capital and expertise to help the businesses grow. If a deal is made on the show, the entrepreneurs have the opportunity to receive an investment from one or more of the sharks, which can lead to significant financial gains.
There have been several success stories of businesses that have become highly successful and profitable after appearing on Shark Tank. Some entrepreneurs have gone on to build multimillion-dollar or even billion-dollar companies with the help of the sharks’ investments and guidance. However, it’s important to note that not all businesses that appear on the show achieve the same level of success, and entrepreneurship always carries some level of risk.
- Do the Sharks get paid?
The sharks on Shark Tank do not receive a salary for their participation in the show. Instead, they invest their own money into the businesses they choose to support. When a deal is made on the show, the sharks negotiate with the entrepreneurs to determine the terms of their investment, including the amount of money they will invest and the equity they will receive in return. If the business is successful, the sharks can earn a return on their investment through dividends, royalties, or the eventual sale of the company.
While the sharks do not receive a direct salary from the show, their participation can provide them with valuable exposure and opportunities to expand their personal brands and businesses.
- Is Shark Tank real or fake?
Shark Tank is a real TV show that airs on ABC in the United States. It is a reality competition series where entrepreneurs pitch their business ideas to a panel of wealthy investors, known as “sharks”, in the hopes of securing an investment deal. The show follows a structured format, with entrepreneurs presenting their pitches and negotiating with the sharks in real time.
While the show may have some elements of production and editing for entertainment purposes, the deals made on the show are real and can have a significant impact on the entrepreneurs and their businesses.
- Has anyone ever gotten all 5 sharks’ approval?
Yes, there have been instances on Shark Tank where entrepreneurs have received investment offers from all five sharks. Although it is relatively rare, it has happened a few times throughout the show’s history. One notable example is the company “Lollacup”, a children’s sippy cup business, which received offers from all five sharks in Season 3.
Another example is the company “Ring”, a smart doorbell and home security system, which also received offers from all five sharks in Season 5. These instances demonstrate the exceptional appeal and potential profitability of certain businesses that can attract the interest of all the sharks.
- Who is the richest “shark”?
The richest “shark” on Shark Tank is Mark Cuban. Mark Cuban is a billionaire entrepreneur, investor, and owner of the Dallas Mavericks NBA team. He has been a shark on the show since Season 2 and is known for his straightforward and often aggressive negotiating style. Cuban’s net worth is estimated to be around $ 4.5 billion, making him the wealthiest shark on the show.
- Which “shark” is making a profit?
All of the “sharks” on Shark Tank have made profitable investments through the show. The sharks are experienced businesspeople and investors, and they make investment decisions based on their assessment of the business’s potential for success. While not every investment turns out to be successful, the sharks have a track record of making profitable deals and helping businesses grow. Each shark brings their own expertise and industry knowledge to the table, which can contribute to the success of the businesses they invest in.
- How many businesses are successful after Shark Tank?
The success rate of businesses that appear on Shark Tank varies, and it can be challenging to determine an exact percentage of successful businesses. Many factors contribute to a business’s success or failure after appearing on the show, including the quality of the product or service, the entrepreneur’s ability to execute their business plan, and market conditions. However, it is worth noting that Shark Tank has helped launch and grow numerous successful businesses.
Some notable examples include the companies “Scrub Daddy”, “Bombas”, and “Tipsy Elves”, which have all achieved significant success after their appearances on Shark Tank. It is important to remember that success is not guaranteed, and businesses must continue to work hard and adapt to changing circumstances to sustain their growth.
- Who started Shark Tank?
Shark Tank was originally created by entrepreneur Mark Burnett and produced by Sony Pictures Television. The show is based on the format of the British series “Dragons’ Den”, which was created by Nippon Television Network Corporation. Shark Tank premiered in the United States on ABC in August 2009 and has since become a popular and influential television show.
The show’s panel of sharks has evolved over the seasons, with different entrepreneurs and investors joining and leaving the show. The current panel of sharks includes Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary.
- Which countries have their version of Shark Tank?
Shark Tank has been adapted into various versions in several countries around the world. The show’s format, where entrepreneurs pitch their ideas to a panel of investors, has proven to be popular globally.
Some of the countries that have their own versions of Shark Tank include Canada (Dragons’ Den), Australia, the United Kingdom, Germany, Brazil, South Africa, and India, among others.
Each country’s version may have its own unique twists and variations, but the core concept of entrepreneurs seeking investment remains the same. The show’s international success is a testament to the universal appeal of entrepreneurship and the desire for aspiring business owners to secure funding and mentorship for their ventures.
Useful Video: AfterShark: LipStix ReMix
References:
- https://www.sharktankblog.com/business/lipstick-remix/
- https://sharktanktales.com/lipstix-remix-shark-tank-update/
- https://biznewske.com/what-happened-to-lipstix-remix-after-shark-tank/
- https://seoaves.com/lipstix-remix-shark-tank-update/
- https://bizzbucket.co/lipstix-remix-shark-tank-update/?expand_article=1
- https://gazettereview.com/2015/12/lipstix-remix-update-from-shark-tank/
- https://trendnetworth.com/lipstix-remix-net-worth/
- https://allsharktankproducts.com/shark-tank-products-health/lipstix-remix/