If you are a makeup enthusiast who likes to mix culture and beauty, Luna Magic could be the perfect brand for you. The company makes incredible makeup products with a touch of Latina culture.
Mabel and Shaira Frías are sisters who jump into the Shark Tank with their brand, Luna Magic, in episode 1211. Their bright and bold colors are inspired by Caribbean and Latin American culture. Mabel is a former digital strategist who helped boost the online sales of beauty products for Macy’s, Nordstrom, and others. Shaira is a former journalist and a makeup artist who attended the Academy of Freelance Makeup School.
Their products are available on Amazon, Walmart, and other stores, but they’d like to take their “Latin Vibe” business to the next level with the help of a Shark.
About Luna Magic
| Category | Details |
| Founder (Plural if multiple) | Mabel and Shaira Frías |
| Product Type | Makeup inspired by Caribbean and Latin American culture |
| Funding (Pre-Shark Tank) | Self-funded |
| Investment Asked | $200,000 |
| Equity Offered | 10% |
What Happened on the Shark Tank Episode?
Mabel and Shaira enter Shark Tank Season 12 seeking $200,000 for 10% of their company. The Sharks are impressed that the sisters are in over 1,000 stores and are in negotiations for end caps in Walmart. The women say they need a Shark to help them with logistics.
Co-founder Mabel found it difficult to get big companies to embrace the vibrant colors she wanted makeup to express. She approached her sister in early 2019, and they started their business. The ladies were raised in New York with Dominican parents, and they wanted a beauty line that would appeal to all Latinas and those who appreciate the culture.
They named the business as an ode to their mother, who passed away while they were planning their startup. In May 2020, the company was awarded a Glossier Grant, an award set up by the billion-dollar makeup company specifically for Black-owned beauty businesses. They were one of 16 winners out of over 30,000 applicants.
African American and Latina women spend over $35 billion on cosmetics annually, and the Frías sisters want to appeal to that market. The company sells eyeshadow, lipstick, brushes, false eyelashes, and more. The colors are fun and bright, and their pricing is in line with recognizable name-brand makeup products.
What Makes Luna Magic Unique?
The company was founded by two Afro-Latina sisters who have been saving money since they were 14. The makeup is designed for every skin tone, especially the ones that are generally underrepresented.
- The brand is very much inspired by the rich cultures of the Caribbean and Latin America.
- The makeup consists of highly pigmented products. It comes in bold, playful colors.
- The company tries to offer high-quality products at a reasonable price to make them affordable for everyone.
Read more about LunaMagic – Latina Inspired Make Up on the Shark Tank Blog.
Did Luna Magic Get a Deal on Shark Tank?
Mark asks how much money they have in their bank, and the sisters tell him they have $157,000. The Sharks like the fact that they have cash in the bank and no debt.
Shark Mark shares his concern about the organizational needs that the business lacks. He finds it difficult to be a part of it, so he goes out. Unfortunately, Lori and Alex have conflicts and cannot invest.
Kevin admits that in his 12 years on Shark Tank, he has not seen any company this early in business secure both end-cap orders and a 50% regional rollout in Walmart. He suggests that entrepreneurs need a logistics partner in a brutal way. He explains that although he is impressed, there isn’t going to be an easy path forward for Luna Magic. And as if it isn’t already obvious, he says, “I’m out.”
The only offer comes from Barbara, who actually has second thoughts before making it. She offers a $250,000 line of credit for 30% and agrees to fund all purchase orders. Kevin says that the offer makes sense.
Barbara explains that this industry actually takes a lot of work. The sisters accept Barbara’s deal.
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What Happened to Luna Magic After Shark Tank?
Once an episode has aired, we track the progress of the businesses featured. Find out if they receive funding or not and report on their progress. The first re-run of this show in March 2021 is less than two months after the original air date. As of this time, there is no evidence of this deal closing. My gut tells me it didn’t since it was such a Sharky offer. On the Luna website, the sisters say:
“Nerves aside, we successfully pitched Luna Magic Beauty and walked away with an offer. Luna Magic Beauty is looking forward to the future exposure, strategic advice, and mentorship from our investor and you can currently shop Luna Magic Beauty in Walmart stores and Walmart.com.”
They say they walked away with an offer, not a deal. As of July 2021, it looks as if the deal with Barbara did not close. We keep updating this page as more information becomes available. As of October 2023, the products can be found in Target, Wal-Mart, and CVS stores. Annual revenue is estimated at $1.7 million at this time.
Where Can You Buy It?
Glam up your makeup routine with Luna Magic’s vibrant cosmetics, available on their official website. Skip the dull, everyday looks and discover bold, colorful options by ordering Luna Magic on Amazon.
For more information about the brand and its products, visit its website. Stay updated on their latest releases and beauty tips by following them on social media.
Quick Summary
- Mabel and Shaira Frías present Luna Magic, a makeup brand inspired by Caribbean and Latin American culture, on Shark Tank.
- They seek $200,000 for 10% equity to help with logistics and expansion.
- They secure a deal with Barbara Corcoran for a $250,000 line of credit in exchange for 30% equity.
See what else is new! View other businesses featured in this episode.
