After Being Dismissed By Shark Tank 10 Years Ago, Beauty Company ‘The Lip Bar’ Grows Bigger
IMHO, business is very volatile. There is no formula to figure out if a business idea will work or not and there are no guarantees in it either. But yes, one can always try to understand the business and the market better but nothing can be predicted 100% accurately and the proof is this beauty company founder who was told by Shark Tank investors to quit but now, 10 years later, she happens to be a successful businesswoman.
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The owner of ‘The Lip Bar’, Melissa Butler and her partner Rosco Spears were told by the investors aka Sharks of Shark Tank to quit trying to build their brand. Founded in 2012, ‘The Lip Bar’ is a vegan and cruelty-free beauty company started by Melissa Butler and Rosco Spears. They started with selling lipsticks and have now expanded to concealers, tinted skin conditioners and much more. In 2015, the duo appeared on Shark Tank in a bid to build their brand which had already gained customers in Melissa Butler’s hometown Detroit.
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Melissa and Rosco had pitched the idea of a ‘Lip Bar Mobile’ as a direct to customer service to solve their distribution problem. But instead of supporting the company or giving them constructive criticism, the sharks declined the idea to invest and called their idea ‘bad’. The sharks refused to listen to the reasoning behind the idea and dismissed the women, asking them to quit. In spite of the discouragement, the two women chose to grow ‘The Lip Bar’ and turned it into a beauty house and managed to place their products in retail stores like Target and Walmart. Their brand was also named Allure’s Best of Beauty Winner and now ten years later, the brand has become so successful that they have celebrated their success by putting out several billboards across the country. The text on the billboards reads, “Shark Tank told me to quit. 10 years, 2 million units sold. Thanks, Mr Wonderful.” Melissa Butler also shared a picture of herself with her partner Rosco Spear standing under the billboard with a caption that says, “10 years later and we’re still [100 per cent] that Bawse.”
Check out this fun post.
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Also Read: Vineeta Singh, CEO Of Sugar Cosmetics, Reveals That ‘Shark Tank India’ Judges Had To Give An Audition For The Show
‘The Lip Bar’ founder has also shared a video from Shark Tank where the sharks told them to quit. Guess, the sharks were wrong about this one. More power to you, girls!
First Published: February 23, 2022 7:09 PM
