Entrepreneur Aliyah Marandiz pitched her gentle body hair removal Wax product business, Sugardoh, on Shark Tank Season 16. She got the idea for Sugardoh while searching for a better hair removal wax for her sensitive skin. She created her own sugar wax using the ancient Egyptian method of sugaring, which uses a paste made from sugar, water, and lemon juice to remove hair from the roots.
Let’s find out if any of the Sharks added this Plant-based hair removal wax business to their valuable portfolio. Discover what happened with this business and the direction it’s headed in now.
| Company Name | Sugardoh | |
| Founder/Co-Founder | Aliyah Marandiz | |
| Founded | Sep 2020 | |
| Product | plant-based grooming company | |
| Asked For | $500K for 5% Equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S16 E3 | |
| Air Date | Nov 1st, 2024 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Austin, Texas, United States | |
| Annual (Revenue) | $5 Million *estimated | |
| Worth / Valuation | $10 Million | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Aliyah Marandiz has worked in the corporate industry as a marketing professional for various companies, including Kurbo Health, Jones-Dilworth, Inc. (JDI), and Target. She’s also a freelance designer and marketer.
As of November 2024, she is fully focused on her plant-based grooming company, Sugardoh. Regarding her education, she completed her BS in Sociology and Studio Art & Design from Santa Clara University in 2017.
Business Pitch Episode Recap
Aliyah Marandiz is a brown girl with sensitive skin, which gets damaged by traditional hair removal wax. That’s why she created Sugardoh, a gentle and compostable alternative to waxing.
She asked the Sharks for $500,000 in exchange for 5% equity in her company, valuing it at $10 million.
Kevin O’Leary said that the sugaring method is ancient and cannot be patented. He wanted to know why the company was worth $10 million.
Aliyah said that it took her two years to develop a proprietary manufacturing process with her own formulation, which gives her own intellectual property that provides legal rights to the owner.
The company’s valuation is high because it launched in September 2020 and generated $50,000 in revenue by the end of that year. Due to going viral on TikTok, sales reached $2.6 million in 2021 and $5.6 million in 2023.
From 2020 to 2021, sales were only through the D2C online website and Amazon, but by the end of 2022, the product was available in 300 beauty retail stores. In 2023, the product expanded to 1,300 retail stores nationwide.
The bad news is that Aliyah has not made a profit from her $5.6 million in sales; instead, she has incurred a loss of about 7%, which amounts to around $440,000. The reason for this is a low margin of 60%, while retail stores require a minimum margin of 80% to 90%.
In 2024, she is working with a new supplier to reduce the manufacturing process and increase the margin to 80%. Another surprising fact is that she currently has $1.5 million in debt and $1 million worth of inventory, while her cash flow is currently zero.
So, she needs money and help to expand to more retailers. She has debt financing at a high interest rate of 22%, which allows her to afford retailer fees, but that is literally a bad idea.
Mark Cuban said that she doesn’t have enough knowledge about this business, so he is out.
Kevin O’Leary thinks that the valuation does not justify the business, so he is out.
Daymond John and Kendra Scott feel that this business is not their type, so they are out.
Lori Greiner said that this is a competitive market, so she is also out.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kendra Scott | No Offer |
| Kevin O’Leary | No Offer |
| Mark Cuban | No Offer |
| Daymond John | No Offer |
| Lori Greiner | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | No Deals |
Sugardoh Shark Tank Update
Sugardoh has millions of dollars in debt, and the company’s annual sales are negative, which is the main reason the Sharks declined to invest.
However, a positive aspect is that the company’s sales saw a significant increase for a few days, and most of the sales came through Amazon.
Let’s see what developments happen with this company in the future.
Here’s the updated list of businesses from Season 16 that have been shared. You can check it out!
