Luna Magic Shark Tank Update – Shark Tank Season 12
Mabel and Shaira Frías pitched Luna Magic, their vibrant and culturally inspired makeup brand, to the Sharks, seeking investment to expand their business.
If you are a makeup enthusiast who likes to mix culture and beauty, Luna Magic could have been the perfect brand for you. The company made incredible makeup products with a touch of Latina culture.
Shaira Frias and Mabel Frias were sisters who entered Shark Tank with their brand, Luna Magic, in Season 12, Episode 11. Their bright and bold colors were inspired by Caribbean and Latin American culture.
With major retail partnerships already in place and strong momentum behind the company, Luna Magic quickly became one of the most talked-about beauty pitches of the season.
About Luna Magic
| Category | Details |
|---|---|
| Business Name | Luna Magic |
| Founders | Shaira Frias and Mabel Frias |
| Industry | Beauty / Cosmetics |
| Product | Makeup inspired by Caribbean and Latin American culture |
| Funding (Pre-Shark Tank) | Self-funded |
| Investment Asked | $200,000 for 10% equity |
| Deal Status | Deal secured with Barbara Corcoran |
| Deal Outcome | $250,000 line of credit for 30% equity |
| Valuation | $2 Million |
Shaira was a former journalist and makeup artist who attended the Academy of Freelance Makeup School. Mabel was a former digital strategist who helped boost the online sales of beauty products for Macy’s, Nordstrom, and others.
Mabel approached her sister in early 2019, and they started their business. The sisters were raised in New York by Dominican parents, and they wanted a beauty line that would appeal to all Latinas and those who appreciated the culture.
Luna Magic Shark Tank Pitch
Mabel and Shaira entered Shark Tank seeking $200,000 for 10% of their company. The Sharks were impressed that the sisters were in over 1,000 stores and were in negotiations for endcaps in Walmart. The women said they needed 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. They named the business in an ode to their mother, who had 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 spent over $35 billion on cosmetics annually, and the Frías sisters wanted to appeal to that market. The company sold eyeshadow, lipstick, brushes, false eyelashes, and more. The colors were fun and bright, and their pricing was in line with recognizable name-brand makeup products.
While the Sharks admired the momentum and branding, concerns soon shifted toward logistics and operational scaling. Mark Cuban questioned whether the company had the infrastructure needed to manage rapid retail growth.
Kevin O’Leary admitted he had rarely seen such an early-stage company land major retail opportunities this quickly, but he warned that the supply chain and logistics challenges ahead would be difficult to manage.
What Makes Luna Magic Unique?
Luna Magic was founded by two Afro-Latina sisters who had been saving money since they were 14. The following features helped them stand out in the beauty industry:
- Makeup inspired by Caribbean and Latin American culture
- Founded by Afro-Latina sisters focused on representation and inclusivity
- Products designed for all skin tones, especially underserved consumers
- Bold, highly pigmented colors with vibrant packaging
- Affordable pricing compared to many premium beauty brands
- Strong retail traction with Walmart, CVS, Target, and Amazon
Did Luna Magic Get a Deal on Shark Tank?
Most of the Sharks ultimately stepped away from the deal despite being impressed by the brand’s momentum.
Mark Cuban asked how much money they had in the bank, and the sisters told him they had $157,000. The Sharks liked the fact that they had cash in the bank and no debt. He shared his concern about the organizational needs that the business lacked. He found it difficult to be a part of it, so he went out.
Unfortunately, Lori Greiner and Alex Rodriguez had conflicts and could not invest.
O’Leary admitted that in his 12 years on Shark Tank, he had not seen any company this early in business secure both end-cap orders and a 50% regional rollout in Walmart. He suggested that the entrepreneurs needed a logistics partner in a major way.
He explained that although he was impressed, there wasn’t going to be an easy path forward for Luna Magic. And as if it wasn’t already obvious, he said, “I’m out.”
The only offer came from Barbara Corcoran, who actually had second thoughts before making it. She offered a $250,000 line of credit for 30% and agreed to fund all purchase orders. O’Leary said that the offer made sense.
Barbara explained that this industry actually took a lot of work. The sisters accepted Barbara’s deal.
Luna Magic Shark Tank Update
Once an episode had aired, the Shark Tank Blog tracked the progress of the businesses featured. The first rerun of this show in March 2021 was less than two months after the original air date.
At that time, there was no evidence of the deal closing. The author’s opinion was that it likely didn’t close since it was such a shark-heavy offer. On the Luna website, the sisters said, “Nerves aside, we successfully pitched Luna Magic Beauty and walked away with an offer.”
Luna Magic Beauty stated that it was looking forward to the future exposure, strategic advice, and mentorship from its investor, and customers could shop at Luna Magic Beauty in Walmart stores and on Walmart.com.
They said they walked away with an offer, not a finalized deal. As of July 2021, it appeared that the deal with Barbara did not close. As of October 2023, the products could be found in Target, Walmart, and CVS stores. Annual revenue was estimated at $1.7 million at that time.
The brand’s estimated net worth was believed to fall between $5 million and $8 million based on retail expansion, distribution growth, and brand positioning in the beauty market. As of early 2026, the company had expanded its presence into Walmart stores and nationwide into Windsor stores.
Where Can You Buy It?
Customers could glam up their makeup routines with Luna Magic’s vibrant cosmetics, available on the company’s official website as well as major retailers like Walmart, Target, CVS, and Amazon.
For more information about the brand and its products, follow them on their social media, such as Facebook and Instagram.
Quick Summary
- Mabel and Shaira Frías presented Luna Magic, a makeup brand inspired by Caribbean and Latin American culture, on Shark Tank.
- They sought $200,000 for 10% equity to help with logistics and expansion.
- They secured a deal with Barbara Corcoran for a $250,000 line of credit in exchange for 30% equity, but the deal did not close.
Check out other Shark Tank Season 12 Episodes.
Curious about the other businesses featured in Shark Tank Season 17 Episode 11? Explore all the businesses and deals from this episode to see which ideas made a splash in the Tank.
