When about 1/3 of the lipstick remains at the bottom of the tube and can’t be twisted up, it goes to waste. To solve this problem, Jill Quillin invented Lipstix Remix, a lipstick mold that helps combine multiple lipstick shades to create brand-new shades.
Did Jill secure an investment from the Sharks for her new business, or did she have to leave Shark Tank without a deal? Let’s find out what happened to her business.
| Company Name | Lipstix Remix | |
| Founder/Co-Founder | Jill Quillin | |
| Founded | 2005 | |
| Product | lipstick mold | |
| Asked For | $105k for 30% equity | |
| Final Deal | $105k for 50% equity | |
| Shark | Kevin Harrington, Barbara Corcoran, & Daymond John | |
| Episode | S1 E13 | |
| Air Date | Jan 29th, 2010 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | United States | |
| Lifetime Sales | $1M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Jill demonstrated her lipstick mold product and explained its importance and use cases to the Sharks. Barbara Corcoran found this business idea quite interesting.
Jill has sold a total of 800 units, with each unit costing $19.95, resulting in total sales of $15,960. However, she valued her company at $350,000.
Robert Herjavec said that this product wouldn’t sell well in TV shopping channel-type formats, retail, or wholesale, so he is out. Kevin O’Leary said he’s not the “lipstick guy,” so he is out.
Daymond John offered $105,000 for 40% equity in the business. Kevin Harrington and Barbara Corcoran teamed up to offer the same amount, $105,000, but they wanted a 40% stake in the company.
However, there was a twist when Daymond told Harrington, “What do you need Barbara for in this deal?” because Daymond has experience in the retail industry, while Harrington has experience in TV channels.
Harrington suggested to Daymond and Barbara to come together in this deal, but Barbara declined.
After a brief conversation, Harrington, Daymond, and Barbara teamed up to offer $105,000 for 50% equity in the business. Jill accepted this offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | $35k for 16.67% equity (Barbara & Daymond) |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | $35k for 16.67% equity (Kevin & Daymond) |
| Daymond John | $105k for 40% equity $35k for 16.67% equity (Kevin & Barbara) |
| Founder’s (Countered) | No Counters |
| Final Deals | $105k for 50% equityDeal |
Lipstix Remix Shark Tank Update
Jill was very excited after securing a deal with the Sharks and made efforts to increase sales of her product. However, it wasn’t sustainable. During our research on the Lipstix Remix Shark Tank update, we discovered that Jill shared the sad news on her social media, announcing her decision to shut down Lipstix Remix.
This is our complete information about Lipstix Remix.
You can see updates on more businesses from Season 1 by visiting the link provided below.
