Richualist Curly Hair Tool Shark Tank Episode Update & Net Worth

Richualist Curly Hair Tool Shark Tank Episode Update & Net Worth

Richualist, founded by Dawn Myers, is a brand behind The Mint, an innovative hair styling tool designed specifically for textured hair. The product aims to simplify the styling process while enhancing the health of curls.

Richualist Curly Hair Tool was featured in Season 15, Episode 19 of Shark Tank. In her pitch, Dawn sought $150,000 for 10% equity, valuing the company at $1.5 million. During the presentation, she highlighted the following key features of The Mint:

• 3-in-1 Styling System: The tool warms hair products to help them penetrate deeper into hair strands while also detangling and styling.
• Target Market: Although designed with 4C hair in mind, The Mint is effective for all hair textures.
• Product Price: The Mint retails for $400, with additional pods available for $6 each or $36 per month on a subscription basis.

Dawn explained that the production cost was initially over $100 per unit, but she managed to reduce it to $60. She shared that she had raised $1 million in venture funding and had sold her home and liquidated her 401(k) to finance the business.The offers made during the pitch included:

• Mark Cuban and Emma Grede ultimately offered $150,000 for 15% equity plus 5% in advisory shares, which Dawn accepted.

Following the Shark Tank episode, Richualist experienced a significant increase in traffic and sales, multiplying their pre-sales fourfold. The Mint is currently accepting pre-orders, and the company is working on producing its next batch of products.

The estimated worth of Richualist is around $1 million, reflecting its valuation during the pitch and its growth potential in the hair care market.

Richualist is still in business and actively selling The Mint and its associated products. The company continues to build on the momentum gained from its Shark Tank appearance, focusing on expanding its market reach and enhancing its product offerings for textured hair care.

What is Richualist Curly Hair Tool? How does it work?

Richualist is the brand behind The Mint, a curly hair styling tool designed to make the process of styling highly texturized hair easier and healthier. The Mint features a patented 3-in-1 system that combines detangling, product distribution, and styling in one tool.

It includes a compartment for pods that can be filled with your favorite hair products, which are evenly distributed through the hair as you comb.

This tool is ideal for creating beautiful curls without the usual time and hassle. The Mint also offers additional pods that can be purchased separately, allowing users to customize their hair care routine.

• Save

The Richualist Curly Hair Tool by Dawn Myers was featured on Shark Tank Season 15. Known as The Mint, this innovative styling tool was designed specifically for women with naturally curly hair, offering a 3-in-1 system that simplifies the styling process.

 During the pitch, Dawn secured a deal with Mark Cuban and guest shark Emma Grede for $150,000 in exchange for 15% equity plus 5% in advisory shares.

Since the episode aired, Richualist has continued to operate, with pre-sale orders available for the next batch of products, set to ship in September 2024. The company’s net worth is projected to grow as they perfect their product and supply chain.

Richualist Curly Hair Tool Shark Tank Full Episode + What Happened at Shark Tank Pitch?

During her Shark Tank pitch, Dawn Myers presented The Mint by Richualist, a curly hair styling tool designed for women with 4C hair but suitable for all hair types. Dawn sought $150,000 for 10% equity, valuing her company at $1.5 million.

 Despite initial concerns from the sharks about the high retail price of $400, Dawn explained that she had already sold out of her first 100 units, which cost $100 each to manufacture. With improved production, she managed to reduce the cost to $60 per unit.

The pitch took an interesting turn when Kevin O’Leary and Robert Herjavec opted out due to their lack of experience with hair products. Lori Greiner also passed, citing a potential conflict of interest with her own hair product.

 However, Emma Grede and Mark Cuban saw potential in The Mint and offered $150,000 for 20% equity. After some negotiation, Dawn countered with 15% equity and 5% in advisory shares, a deal that was ultimately accepted by Mark and Emma.

What Happened to Richualist Curly Hair Tool After Shark Tank?

Following her appearance on Shark Tank, Dawn Myers and Richualist experienced an increase in sales, thanks to the exposure from the show. However, Dawn also faced challenges with logistics, long wait times, and product backorders.

Despite these hurdles, Richualist has continued to grow, with the company focusing on perfecting its product and supply chain before expanding further.

Dawn has taken the advice of Mark Cuban and Emma Grede to concentrate on delivering a high-quality product before pursuing additional partnerships. The next batch of The Mint is set to ship in September 2024, and pre-orders are currently available on the Richualist website.

How Much Is Richualist Curly Hair Tool Worth?

As of 2024, Richualist is valued at approximately $2 million. This valuation reflects the company’s successful product launch, the strategic partnership with Mark Cuban and Emma Grede, and the strong demand for The Mint despite production challenges.

 With continued focus on refining their product and supply chain, Richualist is well-positioned for future growth.

Is Richualist Curly Hair Tool Still in Business?

Yes, Richualist is still in business and continues to offer The Mint to customers eager to simplify their curly hair care routine.

Despite not yet reaching mass production, the company remains committed to its mission of making curly hair styling easier and more accessible. Richualist products are available for pre-order on their official website, with the next batch expected to ship in September 2024.

The future looks bright for Richualist as they continue to build on the momentum gained from their Shark Tank appearance.

Which Episode Number was Richualist Curly Hair Tool on Shark Tank?

Richualist Curly Hair Tool appeared in Episode 19 of Shark Tank Season 15. This episode showcased Dawn Myers as she pitched The Mint, aiming to secure investment to help scale her business and expand its market presence.