54 Thrones Entrepreneur is Completely Faultless! | Shark Tank US | Shark Tank Global

next up is a skin care line with a potent natural [Music] ingredient hi sharks I'm Christina fun tebay I'm from Houston Texas and I'm seeking $250,000 for 10% of my company growing up my family shared with me the richness of my African Heritage including African beauty secrets growing from the shea tree in Africa this nut produces what we all know as shea butter and boy did I love this moisturizer so it's no reason my aunt in Nigeria persuaded people traveling from her Village to pack tubs of pure shea butter to my family in Texas and when I say tubs I mean this beauty right here wrapped in cellophane fancy right for sharks this thing is Magic inspired by my own hair her itage I took this little gym and turned it into 54 Thrones standing for the 54 countries in Africa we partner directly with African cooperatives to create our line of clean beauty products while promoting trade not Aid our products are decadent and divine from our Glow Body Oil to our Moroccan body mass and our awardwinning African beauty Butters 54 Thrones is here to celebrate the beauty the luxury the romance the motherland has to offer offer so sharks who's ready to spread the 54 Thrones wealth with the world nice job great presentation there's some in front of me for you to try these are some of our best sellers what what should we try first my favorite is our African beauty butter in the Egyptian lavender and Moroccan mint scent so that would be the you got to tell me what we use these things for right so our products are Universal you can use them from hair to toe the beauty Butters are our best-selling hand and body butter Christina they're very oily obviously that must be by Design so they're are butter right which is different from lotions many people are used to water-based lotions and water actually draws out the moisture in your skin but Shea Butters and other Botanical oils they seal the moisture into your skin you don't need much you don't need much exactly K I think I used too much you probably did you need a towel okay let's dig into the business itself so when did you start this give us the background yes so we just turned 5 years old last month and it's been a long journey I'm a first generation American my father immigrated here from Nigeria he was a janitor he was a cook all this while in school to be a CPA he always taught us to have pride in who we were have pride in being Nigerian and and just have pride in ourselves and so I went to school I have two masters I went to tand University I have an MBA and I also have a masters in healthcare administration wow good for you so I worked as a consultant for a few years and then I quit um I had this calling that I wanted to learn more about my Heritage I wanted to learn the language I wanted to learn my history so I quit my job um I didn't quit my job to just start this business but I quit my job because I just I I had a calling right I cashed out my 401k and I just started traveling around Africa and while I was there I was just drawn to all of the makers the hardworking women making Argan Oil making shea butter and so I tagged along with them I learned about these African beauty secrets and then I said you know what I want to start a brand and I want to work directly with everyone that I've met what are your sales so last year we made a half a million dollars and that is with a very tight marketing budget last year I spent about $8,000 in marketing that's it wow that's it a lot of our traction came from Word of Mouth we also were on Oprah's favorite thing so that tin that you have in front of you was part of Oprah's Favorite Things what were your sales before Oprah we had our already hit about $300,000 in Revenue okay um and a lot of that kind of comes from the things that were happening in our society last year black owned Brands were getting a lot of um attention people were finding them and loving them and loving our products so it really wasn't a matter of they're not being worthy black owned brands people just couldn't find us we didn't have the resources to are you are you seeing that being sustained at all absolutely um I have found people that found us last year are repeat customers we have people that are stocking up on our stuff and so we're on set to make a million this year wow we're actually going to be launching in Sephora we're going to be launching online in Sephora US and Canada and this holiday season we're actually going to be expanding to Nordstrom are you selling direct to Consumer as well we're selling DTC on our site last year we were at 75% DTC and that's counting the Oprah's favorite things this year it's going to flip we're going to be at about 25% DTC and about 75% margin to support the retail channel so the butter set that you have in front of you that cost me $12 to make and I sell it for 80 wow wow you sell it for 8 good margins you know I cannot fault you for anything today you did a beautiful pitch there's only one problem for me I got to be passionate about everything I invest in I'm just not feeling that I'm out Christina CHR you're a rock star I mean everything that you've presented to us has been right on from a business perspective problem is I don't understand what these things do in order for me to come up with ways to help you I have to have a fundamental understanding and I just don't so for those Reasons I'm out thank you Mark so your presentation was Flawless um the great value of Mr Wonderful is my millions of followers and I sell a lot of stuff on QVC too but I just don't see myself sitting there saying I'm the right brand representative but that's why you have me I'm the right brand representative I get it it's it's sort of as a pure investment uh I find it quite interesting cuz I think it's going to work I really do cuz I think you're very good at selling it but I'm not adding any value other than money in everything I do I add the Mr Wonderful magic Mr Wonderful you are an advertising genius that is what I need I took $8,000 and turn that into a half a million dollars last year well listen you're very very very impressive I recently did a deal with a couple of young women who had created not only a cosmetic line but a skincare line that goes with it unfortunately you are so competitive with what we're already doing I have to be out thank you Lori you know I want to tell you you are so bable as an entrepreneur you are so impressive your story is so compelling you know what my wife has worked for over eight years at Neutrogena so I can almost hear her whispering in my ear that skin care is not a fat it's something that's here to stay I'm willing to give you half the money if one of my fellow sharks will come in with me three sharks are out n of is interesting in Christina's Shea butter-based skincare line 54 Thrones but he wants another shark to partner with him okay I'll do 250 for 20% if you want to come in for half you're there and uh we will back you and we'll blow this thing up I am completely in on the offer because I think what you're building here is not just a company I think it is a movement and I'd like to be part of it can we do 250 for 15% think about this it it makes me be a 7 and 1 12% guy that's just not a lot 72% of a100 million compan still listen I get it but think about think about the story here you've got an entrepreneur here with a proven track record of growing a behemoth and in his family some incredible expertise in your sector you have me which has a massive following socially and a lot of television listen listen I believe in you so much that I'm willing to put in half of the amount just like Kevin and you can give him more Equity to satisfy I'm not going to say the greedy Mr Wonderful but I want to support you the offer what would be the offer so you want 250 for 15% right I want 250 for 10% it again you raised it again I'm not I'm not doing that deal we got stick to our guns on this one so I'll let Kevin do the whole thing if he wants if you would like both of us to be in want course you should have two sharks but think about it you've got to you have to let us wet our beaks in the butter will you do 250 for 17% it's so close to 20 will you please but he said he' give you more Equity so if he our platform is trading I'll take seven he can take 10 7 and2 Fine 7 and 1/2 17 1/2% 250,000 yes congratulations two sharks great job great job congrats fantastic presentation thank you yes I got two sharks so it's just doubly everything I cannot wait to call my partners in Ghana and Morocco and tell them what happen happened because I told them I was going to shark take and I don't know if they knew what it was but they prayed for me and it worked out

Channel: Shark Tank Global

Views: 83,656

Keywords: Shark Tank, Shark Tank US, Shark Tank Australia, Kevin O’Leary, Barbara Corcoran, Daymond John, Robert Herjavec, Mark Cuban, Lori Greiner, Dragons’ Den, Money Tigers, Entrepreneurship, investment, reality tv

Id: J4qidvhYjvw

Length: 10min 36sec (636 seconds)

Published: Fri Mar 29 2024