In every age there are specific groups of people who are targeted for their natural body features and most of the times neglected as well. The Redhead ones are among them who either found no specific product to use for their hairs or end up facing a bully for no reason. Absurdly, there was also a time when redheads were considered witches, which is a completely illogical thing to say.
Adrienne and Stephanie Vendetti, the owners of How to be a Redhead, have introduced a product line for all natural and by choice redheads in the world. Their company offers eyebrow mascara in red-hot shades and shampoo to help strengthen the hair of all red-haired people. They are also on their way to create beauty, hair, and skincare products. Moreover, they have also formed a redhead community advice outlet to give the community a confidence booster.
The owners came on Shark Tank to request $350K in exchange for 10% in their company. The sisters also presented the sharks with their Redhead products along with a flaming red wig to highlight their mission. Let’s see if they got the deal or not.
How to be a Redhead Net Worth Shark Tank Update
Adrienne and Stephanie were looking for an investment of $350K in exchange for 10% equity in the company. At the time of the episode, they valued their company at $3.5 million. Adrienne and Stephanie successfully secured a deal with Mark Cuban for an investment of $350K for 15% equity in the company. The investment adjusted the company’s net worth to around $2.33 million. After the show was aired, the company saw a big increase in website traffic, sales, and social media exposure. As per my rough estimate, the current net worth of How to Be a Redhead in 2024 is around $10.5 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
$350K for 10% equity
$350K for 10% equity + $2.50 royalty until investment recouped, then $1 royalty in perpetuity
No
Mark Cuban
$350K for 10% equity
$350K for 15% equity
Yes
Lori Greiner
Out
N\A
N\A
Robert Herjavec
Out
N\A
N\A
Barbara Corcoran
Out
N\A
N\A
The Owner’s Backstory
Stephenie related that they were constantly struggling to find products that suited their natural red hair. Even Adrienne dyed her hair blonde for almost seven years. Then they begin to work on the niche. In the beginning, there was no one to give them beauty advice and then they started to move around the country in the form of beauty events.
This also resulted in the publishing of their book “How to Be a Redhead”. During the same time, they also started the H2BAR Box which stands for How to be a Redhead. In this, they were shipping products with the name “redhead friendly approved. They also have their own logistics and warehouse, which highlights that redheads do count after all.
Initial Pitch
The sister duo came on the show to seek $350K for a 10% equity stake. Their product is a line of beauty, hair, and skincare to make the redheads feel fit to the world. These products are not only for natural redheads but also for those who embrace them by choice.
Queries about the Product
Lori asked the first question about their difference from other beauty brands. Addrienne highlighted that other brands do not have the perfect shade that are needed by redheads which makes their company unique. The larger companies like Sephora usually skip the shade and move from blonde to brown while pigmenting their products.
Kevin asked about the percentage of people who are redheaded. Stephanie replied that there is a 2% population of redheads in the world population. This percentage does not include those who have colored their hair by choice.
Herjavec wanted to know about their sales. One of the sisters highlighted that their projected sales for this year is about $1.1M and last year it was about $833K. Their next year sales are estimated to be $2.4M.
Cuban then inquired about their profits. Stephenie related that their net profit is $80K for this year and around $250K gross for this year.
Lori was interested to know about their burn rates. She highlighted that their business does not have any debt and they have been reinvesting the profit into their product line.
The sister also added that they launched the business 12 years ago and their lifetime sales are about $4.4M. Kevin asked if they were in retail. The sister replied in the negatives and also highlighted that they sell directly to consumers.
Herjavec was interested to know about their margins on the long-wearing mascara. Adrienne replied that it costs them $4 to make and then sells it for $26.
Corcoran asked about the percentage of their customers who are reordering their product. She answered that they amount to 55%.
Kevin then inquired about their average order and their cost of customer’s acquisition. One of the sisters replied that their average order is about $55 and it costs them $26 per click for the customer’s acquisition.
Cuban was curious to know if they have any men’s products for the redheads. They have a glossy shampoo for redhead men as well which is even used by Addrienne’s husband too.
Kevin asked about their plan to educate people about the needs of the product. Stephanie highlighted that they post content every single day and they also have a podcast where they have just completed their five seasons in total. They have about 10K viewers and they just got a producer too
Shark’s Response and Final Decision
Lori was the first shark to drop the deal as she thought their business was not the right investment for her. She also advised them to change their product package and make their logo more visible.
Herjavec and Corcoran also passed the deal as they think they are not fit for the business and besides they do not need a shark as they are a complete package.
Kevin then offered them $350K for a 10% equity stake with a $2.50 royalty until the invested amount is paid back and afterward,d it will drop to $1 in perpetuity.
Cuban offered them $350K for 15% of their company. The sisters readily accepted his offer and left the set with a shark by their side.
Product’s Availability
After getting a deal on the show, their sales had risen by 544%, with a notable increase in website traffic, and they attributed their success to thorough preparation that allowed all orders to be promptly shipped to customers.
The sisters are planning a rebrand of How to Be a Redhead to include a more neutral product line suited for all redheads. They remain committed to strengthening the redhead community and aim to promote greater redhead representation in major beauty retailers like Ulta and Sephora.
How to Be a Redhead has successfully entered into a unique market by creating products that meet the specific needs of Redheads, a group often overlooked by mainstream beauty brands. With a range of beauty, haircare, and skincare products suited to both natural and chosen redheads, Adrienne and Stephanie’s business gained a push following their appearance on Shark Tank and their partnership with Cuban.
The company’s continued growth and commitment to building a supportive redhead community highlight its dedication to elevating redhead representation in the beauty industry. Their products are readily available on their website, and they are actively expanding their line to reach an even broader audience.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
