The Basics
- Company: Lipstix Remix
- Product: A lipstick repair kit that allows users to recycle their old lipsticks and create new shades
- Owner: Jill Quillin
- Asking Price: $105,000 for 30% of the company
- Final Deal: $105,000 for 50% of the company with Barbara Corcoran, Daymond John, and Kevin Harrington
- Season/Episode: Season 1, Episode 13
Lipstix Remix Before Shark Tank
Jill Quillin is a stay-at-home mom who started Lipstix Remix in her garage in 2009. She was inspired to create the product after she realized how much lipstick is wasted every year. The average woman throws away 12 lipsticks in her lifetime, and each lipstick contains about 1/3 of a teaspoon of product. That’s a lot of wasted makeup!
Lipstix Remix is a simple but effective product that allows users to recycle their old lipsticks and create new shades. The kit comes with a variety of tools and ingredients, including a heating element, a mixing bowl, and a variety of pigments. Users simply melt their old lipsticks in the heating element, mix them with the pigments, and pour the mixture into a new lipstick tube. The result is a new, custom-made lipstick that is both affordable and environmentally friendly.
Lipstix Remix On Shark Tank
Jill Quillin appeared on Shark Tank in Season 1, Episode 13, seeking $105,000 for 30% of her company. She told the sharks that Lipstix Remix had generated $1 million in sales in the past year.
The sharks were impressed with Jill’s passion for her business and her commitment to sustainability. However, they were concerned about the high cost of the kit and the lack of a franchise model. In the end, Barbara Corcoran, Daymond John, and Kevin Harrington made an offer of $105,000 for 50% of the company. Jill accepted the offer, and Lipstix Remix became the first company to ever make a deal on Shark Tank.
The Bidding
After Jill Quillin’s pitch, the sharks began to discuss the merits of her business. Barbara Corcoran was impressed with the product and the potential market. She offered $105,000 for 50% of the company. Daymond John was also interested in the business, but he wanted to see more proof of concept. He offered $105,000 for 40% of the company. Kevin Harrington was also interested in the business, but he wanted to see a larger market share. He offered $105,000 for 30% of the company.
In the end, Jill Quillin accepted Barbara Corcoran, Daymond John, and Kevin Harrington’s offer of $105,000 for 50% of the company.
Final Deal: $105,000 for 50% of the company with Barbara Corcoran, Daymond John, and Kevin Harrington
Jill Quillin’s deal with the sharks was a major success for Lipstix Remix. The investment from the sharks helped the company to expand its production and distribution. Lipstix Remix is now sold in stores nationwide, and it has become a popular choice for women who are looking for an affordable and environmentally friendly way to recycle their old lipsticks.
Lipstix Remix After Shark Tank
Since her appearance on Shark Tank, Jill Quillin has continued to grow her business, Lipstix Remix. The company now sells its products in stores nationwide, and it has also launched an online store. In addition, Lipstix Remix has partnered with a number of environmental organizations to promote sustainability.
Jill Quillin is a successful entrepreneur who has built a thriving business from the ground up. She is a role model for women everywhere who are looking to start their own businesses.