Highlights
- Aaron Marino pitched Pete and Pedro Bueno Hair seeking $100,000 for 10% equity.
- Despite offers, Marino ultimately made a deal for his other company, Alpha M, with Barbara Corcoran, which he later declined.
- Pete and Pedro, along with Marino’s Alpha M and Tiege Hanley lines, remain successful businesses.
Overview
| Category | Details |
|---|---|
| Name | Pete and Pedro Bueno Hair |
| Founder | Aaron Marino |
| Industry | Personal Care & Grooming |
| Product | Premium hair care products for men |
| Funding | No deal secured on Shark Tank |
| Investment Ask | $100,000 |
| Equity Offered | 10% |
| Valuation | $1 million |
Aaron Marino, who pitched the Alpha M Style System back in season four, returns to the Tank to pitch Pete and Pedro Bueno Hair, his line of premium hair care products for men, in episode 726. Marino is a men’s fashion blogger and men’s lifestyle guru with over 1.3 million subscribers to his Youtube Channel. He created the line with his hair stylist, Stephen Posta of Dyer & Posta Salon – a swanky men’s and women’s hair salon in Kennesaw, Georgia.
Marino says Pete and Pedro got its name from an old story his parents told him about a boy named Pete and his donkey, Pedro – both of whom had “bueno hair.” As Marino says, they offer “a line of men’s hair styling products that meet Stephen’s professional standards, as well as my own regular dude needs.” There is a shampoo and conditioner, and several styling creams, gels, pomades, pastes, and putties – all for different hair lengths and types.
They started the business in 2013 – a year after Aaron originally appeared on Shark Tank. Marino and his partner sell the products on their website and offer free shipping on orders over $50. They also have a subscription option to send new products every 6 or 8 weeks. Aaron likely wants a Shark to help him go national. Will a Shark think this is a bueno investment?
Pete and Pedro Bueno Hair Shark Tank Recap
Aaron comes into the Tank confident in spite of his season 4 failure. He’s looking for a $100,000 investment in return for 10% of his new venture, Pete & Pedro. He’s determined not to leave the Tank without a deal a second time.
He passes out samples of his hair care products. Barbara Corcoran enjoys the citrus scent. Aaron tells her it smells like “a freshly bathed tiger.”
Kevin O’Leary mentions Aaron’s first visit to the Tank, and wants to know what’s different this time around, and why “this won’t go straight to zero.”
Aaron replies that his new venture is already making money. He’s made $800,000 in sales thus far, and his sales for the month were $50,000. It appears he’s learned since his first Shark Tank appearance. His lower price point clearly appeals to customers, and he’s built a solid base of sales before returning to face the Sharks a second time.
He’s growing his presence online through Youtube, with 600,000 followers and 5 million views per month. He says he’s a “savage on social media.” He has a 9% conversion rate, with people clicking on the links. JC Penny and Chevrolet have both paid him to do endorsements. He’s offering the products in his investment, not his social media and networking contacts. He considers the businesses separate.
Kevin O’Leary is unimpressed with the division. “Why would I want one of my entrepreneurs,” he demands, “Doing anything but making me money?”
In spite of his reservations, O’Leary makes an offer. $100,000 in exchange for 20%, but he wants the entire business consolidated – the Youtube, social media presence, and endorsements company, called Alpha M, and Pete and Pedro. Aaron turns O’Leary down, unwilling to allow the Sharks a taste of Alpha M. Lori Greiner doesn’t think this “is the right product” for her. She’s out.
Robert Herjavec isn’t impressed with the split companies, either. He tells Aaron “If your loyalty is split, you’ll go where you’re making the money.” Aaron agrees that he might need to combine the businesses. Barbara Corcoran makes an offer: $100,000 in return for 10%, but she wants the Alpha M business. She’s not interested in Pete and Pedro. O’Leary reiterates his offer, 20% of both businesses combined for $100,000.
Robert Herjavec matches Kevin’s offer. Aaron doesn’t believe that Kevin brings enough value to the table. He makes a counter offer to Barbara, asking $300,000 in return for 10% of the platform. Barbara agrees but tells him he’ll have to get a second shark in on the deal. Robert is interested, but he wants 10% of the current companies and products, and 10% of any new products going forward.
Aaron feels he would have to give up his credibility if he allows Robert that kind of influence over his endorsements. He asks Barbara if her original deal is still on the table. Barbara says it is, and Aaron walks out of the Tank with a Shark deal. Not for the business he came in with, but for his Alpha M company.
Pete and Pedro Bueno Hair Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress.
Coming into the Tank once is an accomplishment in itself, but to return for a second try is nearly unheard of. Then, to land a Shark deal not on the company being pitched, but another related company, makes Aaron a rare fish indeed. Unfortunately, Aaron declined the deal a week after making, stating it “didn’t feel right.”
Alpha M remains a strong presence, including his ongoing series on men’s haircare and grooming, and his social media presence and endorsements. Aaron’s following on Youtube has now exceeded those of even the Sharks themselves, and his social media reach is undoubtedly one of the most impressive in the men’s grooming market today.
He opened a second line called Tiege Hanley. Both companies are in business in 2021.
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