The Sharks Are Unsure Of The Potential In Glow Recipe | Shark Tank US | Shark Tank Global

Next up is a company seeking to bring The latest beauty trends to America [Music] Hello sharks my name is Sarah Lee and I'm Christine Chang and we're from New York City we're the co-founders of glow Recipe and today we're seeking 425 000 in exchange for 10 equity in our Company Glow recipe is here today to make every American woman's skin glow and make Everyone look beautiful by bringing only The best products and skin secrets from The modern epicenter of Advanced Skin Innovation Korea sharks did you know in The last year the top us Beauty editors And media Outlets have been crowning Korean beauty to be 12 years ahead of The rest of the world with glow recipe Korean beauty is no longer a hidden Secret we believe that Korean beauty can Be the next big players in the US now we Know that being a shark isn't easy your Stressed sleep deprived dealing with the Pressures of being an apex predator We wanted to bring a little bit of glow Into your day and onto your faces so we Have some samples for you I hope it's whiskey Thank you Thank you So the first is a waterless Mist that is Packed with Botanical extracts for extra Efficacy perfect for On the Go 24 7

Skincare especially perfect for sharks That never stop swimming oh it's nice Second is pressed serum this is a new Category of beauty that combines the Concentration of a serum and the Comforting hydration of a moisturizer so This multitasker is packed with chaga Mushroom extract which is anti-aging oh It feels funny it's halfway between a Gel and a cream exactly so last but not Least this is the next Generation sea Kelp sheet mask as you may have heard Sheet masks are on fire in the U.S and You might have seen the cuts yeah of Course So sharks we would love for you to join Us in our journey to making the world More beautiful Clear ladies you don't make these Products you Source them in Korea and You bring exactly you're essentially a Distributor so our business is in two Verticals one is the e-commerce site Where we curate the natural beauty Skincare products from Korea we curate Them based on our expertise we have 20 Plus years of combined experience in the World's largest beauty company 20 plus Years combined combined so you must have Huge sales because you're putting a Value in your business of over four Million dollars Let's hear about those sales last year We opened below recipe in November for

The first two months our Revenue was Three thousand dollars 2015 year to date You're at 550 000 wow we're projected to Do one million dollars by the end of This year all those sales are online so Half of that comes from our e-commerce Site where we curate the products the Second is where we act as a brand Incubator if you already charge them for That service yes we share the revenue With the of the brands How do people know this I've never heard Of it Of course as The part of our platform is to not only Curate but also educate we have an Extremely detailed site with very Detailed instructions usage even video Our main focus right now is really Robustly growing our YouTube channel how Many subscribers how many subscribers so Right now our subscriber base is still Around a thousand because we have just Started but our commutative views are 200 000 right now yeah that's not really That's not really a legit number though Right everybody just started though why Is Korea a hotbed of beauty products It's just hyper speed innovation Market Is so Competitive influence of Paris in Fashion how many skus do you have how Much inventory do you have so right now We have 110 skus yeah okay so that's

Where your cash is going then right Because if new products are coming out All the time your inventory is very much At risk we don't have any slow-moving Goods right now everything is cycling Through until the next one comes right The Korean is so so much Innovation why Wouldn't large retailers that make Billions of dollars in sales in Cosmetics not have those in their stores So Sephora or Target actually carries a Few Brands not a lot they've just Started so they're competitors they're Competitors in a way but they actually Come to us to seek Innovation Trends and Ideas so you're thinking you're a Consultants for this industry in the United States we're thinking that we're The thought and Trend leaders when it Comes to K Beauty in the U.S exactly you Don't have the scale that your Competitors the retailers have why can't They hire some great talent well anybody Can do it I mean anybody could be a Distributor Yeah but how many Sarah and Christine's Are there out there thank you so much Thank you we also provide education and Translation not all Distributors do that You know the one sector the one industry That's maintained its margins for a Hundred years is the Cosmetic business Yes I'm just choking on this valuation you

Digest that let me speak if you don't Mind I love the distributor space Because you're a middleman it's cheaper You can grow faster but your numbers are Nuts Come in cheaper and offer a lot more Stuff I think we should be willing to Consider that valuation for I don't have to ask a lot of stuff How much I said give you 425 for 40 percent Barbara's not crazy because I was going To offer you 425 for 50 percent I I think you guys are the real deal uh You're smart you have credibility you've Been in the industry it's a pure Execution business so I Gotta Buy you I'll make a better two of you but not a Ten percent I'll give you the 425 000 For 30 percent I think the business is worth roughly a Million dollars today well we're Projected to do one million dollars just In our Revenue this year next year our Projection is over 3 million and in the Next three years at the keyword there is Project Because let me tell you what I think Okay sure I've been in the beauty retail Industry for very long time it's a great Business but it's a very competitive Business as you know one of the most Brutal right so for me it's not the Right investment

So I'm a Sorry thank you guys you haven't gotten Very far with digital content that's one Of the reasons yet But that's where the viral opportunity Should come up we really need your help Actually we'd love to work with you Because you have that expertise in the Digital space Christine what is the maximum amount of Equity you'd be willing to part with for 425 000 maybe we can get to An Answer Very quickly because We give you the deal activities What would you do Mark yeah I don't know enough I don't know enough But I don't know Yeah really You have Barbara who offered you 425 for 40 you have Robert who offered you 425. What about 30 and Kevin what did you Offer well I also want a premium for who I am Mr Wonderful so I'm asking for next 14 because I am missing 425.50 If they haven't lose any one of those Offers any minute now I mean as you're Talking they could drop out Now I'm still usually so decisive on What I see and I just don't know I mean I work with a lot of Korean companies so I'm thinking okay there's an angle there But I just don't know what I don't know In this particular case Okay okay now so Robert would you be

Willing to consider 18 18 percent Christine would you do it at 25 Robert would you do it at 22.5 If it's worth 25 it's worth 22.5 I've Come down I think that's fair I'd love To be involved with you I would Definitely do it at 25. Robert and Mark if you come together at 25 we would be willing to take the offer Because they don't like us If you want another shark then the Amount of equities got to go up because It's not enough I'm happy to appeal Alone 425 000 for 25 I don't think I Need another shark I've got the tech if That's what you're looking for All right Yes thank you Congratulations we really appreciate it Thank you so much thank you good job Thank you so sharp if you wanted to just Briefly tell you thank you in Korea Yeah how do I say screw you Kevin in Korea oh please don't be rude Congratulations [Music] Foreign [Applause]

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