Nail Pak Evolves Into Grace Nail Company After Lori Greiner Shark Tank Deal
Nail Pak is a four-in-one nail polish kits from Duality Cosmetics pitched in Shark Tank Season 3. Nail Pak includes nail polish, remover, file and pads in a convenient polish bottle kit. Throw it in your purse, and you have everything you need to do touch-ups or change your polish anywhere.
Is Nail Pak Still In Business
Nail Pak is still in business and has grown in popularity. The Nail Pak has been rebranded into a new business named GRACE NAIL that is thriving.
Despite this enormous success and what appeared to be the foundation of a thriving business, it appears as though the Nail Pak has declined in recent years.
Barbaras website, Duality Cosmetics, is currently unavailable, QVC and UltaBeauty no longer sell the product, and there appear to be no other online retailers carrying it.
The companys Facebook page attempted to convince excited customers that new things are happening with the product and that they will return in spring 2015, but this did not materialize.
Many believe Duality Cosmetics went out of business for various reasons, including poor quality nail polish or possible acquisition by a larger operator.
There is no confirmed source regarding Barbaras or the companys whereabouts. This is surprising because the deal closed, and Lori appeared to be heavily invested in the firms growth if something did go wrong with the company, she would almost certainly have attempted to preserve it.
Lori will likely benefit from her transaction despite the companys demise, as she invested only $50,000 and helped the product achieve significant sales before its mysterious disappearance.
Nail Pak is an excellent illustration of the hundreds of events even after a successfully closed deal.
Nail Pak Shark Tank Update
Lori Greiner revealed in an interview with Shark Tank Blog that one of the episode 314 products would appear on QVC the Saturday morning following the initial broadcast. They sold out almost immediately! Barbara and Nail Pak are featured in an update segment in season 4, episode 410. In addition to the tremendous success on QVC, Lori helped get the nail polish on the shelves at over 500 Ulta Beauty stores nationwide. Barbara is well on their way to being one of Loris biggest Shark Tank success stories!
Barbara rebranded the company to Grace Nail Company in 2015 and ran the business for a few more years. While she still lists the company as open on her LinkedIn page, social media stopped posting in 2018 and as of July, 2022, there is no way to order product from the company website.
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Nail Pak After Shark Tank 2018 Update
The deal between Lori and Barbara closed after Shark Tank and Lori was able to get the product on QVC. It was a very successful turnout as the product did sell out and had gotten very positive reviews on QVCs website. Lori and Barbara had already done nearly $750,000 in sales before their Shark Tank update. Lori also introduced Barbara to Ulta Beauty, a major retailer. After marketing her product to Ulta Beauty similar to how she did the Sharks, Ulta Beauty agreed to carry it in their retail stores and online. Barbara and Lori went into an UltaBeauty store six weeks later to see the product on the shelves which made both of them very happy.
Does Nail Pak still exist?
Despite this huge success and what seemed to be the start of a growing company, it appears the Nail Pak has actually gone downhill over the last couple years. Barbaras website, Duality Cosmetics, is currently down, QVC and UltaBeauty no longer sell the product, and it seems that no other outlets sell it online. The companys Facebook tried to sell eager customers that exciting things are happening with the product and that they would be back in spring of 2015, but that did not happen.
Nail Pak Before Shark Tank
Barbara Lampugnale designed Nail Pak to minimize the burden of purchasing so many different items to do ones nails.
One night, she came up with the idea when her six kids were fixing their nails, and she encountered those issues.
Barbara developed a product that contained all the necessary ingredients in one container, including the nail polish remover and pads. The company is called Duality Cosmetics.
Barbara possessed the financial means to invest heavily in the concept, which many Shark Tank entrepreneurs lack.
She could not secure distribution before appearing on the show due to the time she spent fine-tuning other aspects of her business, such as applying for a patent and manufacturing inventory.
Barbara applied for season three of Shark Tank with hopes of growing her business.
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Who Is Nail Paks Net Worth Her Earnings In 2022
Are you curious to know about Nail Paks Net worth and Earnings till 2022? If your answer is yes, then, this might be the perfect article for all of you to read. In todays article, we will be talking about Nail Paks net worth and earnings. But before moving to reveal the net worth, we will make you understand the topic and the main highlight of todays article. So, stay tuned till the end to learn some of the fascinating facts about Nail Pak. In the next section, we will reveal Nail Paks net worth and earnings till 2022.
What is Nail Pak? Nail Pak is a three-in-one kit that includes nail paints, a nail file, and nail paint remover to remove the nail paint properly and hassle-free. Nail Pak is the smallest portable product in cosmetic history. It also has achieved great sales since its existence. Now let us learn who owns the product. Barbara Lampugnale is the mother of six daughters and lives in West Hartford, Connecticut. She needed a quick beauty regime and hence invented Nail Pak. The bottle looks like ordinary nail paint, but when you remove the bottom, nail remover pads can be found.
In the upcoming section, we will look at Nail Paks net worth and earnings till 2022.
Founder of Nail Pak
Nail Pak Shark Tank Recap
Barbara Lampugnale came into the Shark Tank seeking $50k for a 20% share in Nail Pak. She reveals shes invested $300K of her own money. The Sharks like the fact Nail Pak only costs $3 to make, yet retails for $14.99. Robert doesnt know anything about cosmetics, so hes out. Mark thinks its a good idea, but he doesnt want to invest the time in creating a big team to help the product hit the market hes out too.
Lori LOVES Nail Pak. She offers Barbara the $50K, but she wants 51% of the business. She promises Nail Pak will sell out on QVC. Kevin jumps in and offers $50K for 40% of the company and promises to get her on TV too. Kevin also asks Daymond to join him in the deal, then Barbara asks Lori to come down to 40%. Lori agrees, but only if she can join in on one of Barbaras nail parties. Barbara agrees and the deal is made.
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Nail Pak Nail Polish Remover And File
Nail Pak nail polish entrepreneur and mother of 6 Barbara Lampugnale pitches the Sharks on her 3 in 1 nail polish in episode 314. Barbara is a former interior designer and cosmetics industry pro who, along with her daughters, has weekly nail parties where the girls all get together to do their nails. It was during one of these parties that the idea for Nail Pak nail polish was born. The idea of having all the elements for a manicure or pedicure in one compact package made sense to a woman with a lot of nail polish around her house. Each bottle of nail polish comes with nail polish, a file, and pre-soaked nail polish remover wipes. Its an all in one manicure system in a package the size of a regular nail polish bottle.
What Happened To Nail Pak At Shark Tank Pitch
Nail polish businesswoman and mother of six in episode 314, Barbara Lampugnale pitches the Sharks on her three-in-one nail polish. Lampugnale is looking for a Shark to assist her in growing and marketing the product.
Barbara Lampugnale entered Shark Tank asking $50,000 for 20% stake in her Nail Pak, which worth $250,000.
She admits to investing $300,000 of her own money. The Sharks enjoy the idea that Nail Pak is only $3 to create yet sells for $14.99.
Robert isnt familiar with cosmetics, so hes out. Mark believes its a brilliant concept, but he doesnt want to spend the time assembling a large staff to assist the product reach the market hes out as well.
Lori is obsessed with Nail Pak. She offers Barbara $50,000 in exchange for 51% ownership of the company. She guarantees that Nail Pak will sell out on QVC.
Kevin enters the fray, offering $50,000 for 40% stake in the firm and promising to wager Nail Pak on TV as well.
Kevin also invites Daymond to join him in the venture, and Barbara invites Lori to accept 40% stake in the firm. Lori agrees, but only if she may join Barbara at one of her manicure parties. Barbara agrees and walks away from the pitch with a deal.
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Nail Pak At Shark Tank:
Babara had the background to invest money into her business which led to investing $300,000 in the company. When she told the sharks this, they were shocked.
Babara went into the shark tank seeking an investment of $50,000 for 20%equity of the company. Babara started by displaying the products and how it contains all the things required for the removal of nail polish and the polish itself as 3 in 1 accessory pack.
She also told the sharks that her patent pending on her product as she distributed the samples to every shark. Robert asked for the selling price and manufacturing cost, to which she replied $3 for manufacturing and sold at $14.99 each. Robert soon realized the dedication shown on the product but felt that he could not help to sell the product so he was out. Mark could not see the potential of the product becoming a business so he was out. Kevin loved the margins and looked at Lori and said that if the product would go on QVC it would really help.
Kevin said that it would be less risky if he went on in with Lori. She refused and made an offer of $50,000 for 51% of the company. Barbara countered the offer by Lori to $50,000 for 40% equity of the company. Kevin says she should not take the deal but Barbara sees the potential of Lori and accepts the offer and the lucrative QVC backing too.
What Do The Shark Tank Investors Say About Nail Pak
- sees the challenge is the need for a support team to go out and sell this product. He is not a guy to build her team. He is out.
- Daymond John says he will put the 10,000 units in Duty-Free stores. Lori ends up fighting with Daymond on who can market the product better.
- Kevin O’Leary wants proof that her product is going to work, and he is a skeptical investor. Kevin is asking what Lori is going to do, and he wants in on the deal. He threatens to make her pay more. Kevin counters Lori’s deal is giving her $50,000 for 40%. Kevin then asks Daymond John if he wants to come in on the retail places.
- Lori Greiner offers $50,000 for 51% of the company, and she will get on the phone with her in the morning to sell 10,000 units on QVC. She tells her that she has to have a party on the night her product goes on QVC. Lori Greiner matches Kevin’s offer for $50,000 for 40%, and they have a deal.
- Robert Herjavec says he can’t add any value, but the thought of her spending $300,000 without orders takes guts, but he can’t add value, so he is out.
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Nail Pak Shark Tank Recap:
Lori Greiner really likes this product right away, as does Kevin OLeary, and she starts the negotiations at 51% of the nail polish business for the $50k Barbara was looking for. Lori even sweetens the deal by saying they will sit down tomorrow morning and get the Nail Paks on QVCvery quickly. Loris completely convinced she can sell all 10,000 already available units in a matter of minutes on her show. Lets see, 10,000 units x 14.95 = $149,500.00 is a tidy profit and guarantees Lori will be in profit rather fast on this deal.
Kevin offers Barbara $50k for only 40% and then he will just call QVC himself and get the Nail Paks on there. He asks Daymond John if he wants to bring his marketing skills in on this deal and sweeten the pot just a bit. Greiner really likes this idea and already knows she is looking at the next hit for her show. She wants controlling interest but because of OLeary and Johns partnership, she decides to drop the equity down to 40% and match their deal. Obviously, Lampugnale has done her homework and would much rather work with Lori and accepts a deal that really is almost too good to be true.
Barbara walks away with the money she was asking for, still has a controlling interest in her invention that she almost gave away and a guarantee that Lori will have the Nail Pak on QVC and sell out all 10,000 bottles of existing product in the very near future.
Nail Pak Duality Cosmetics Shark Tank Update
Nail Pak On The Shark Tank
Duality Cosmetics Season 3 Episode 14 Update
|Barbara Lampugnale and Her 6 DaughtersInventors of The Nail Pak|
Barbara Lampugnale first appeared on the Shark Tank Show last year on Season 3 getting a deal with Lori Greiner for the $50k to expand the Nail Pak product line. She has an ironclad patent on the 3 in 1 nail polish, remover and file combination and with Greiners help, has quickly expanded into the retail market. Barbara is the Mother of 6 girls and still finds the time to run the Very Successful Duality Cosmetics Nail Pack Business.
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What Happened To Nail Pak After Shark Tank
The QVC Queen rescues the day by selling 10,000 bottles of Nail Pak following its appearance on Shark Tank. Her contract with Ulta beauty led to its expansion to 500 locations after it ceased sales on Amazon two weeks later.
Many stores were reached through the sharks assistance, which enabled the firm to thrive.
The Nail Pak product sold well on QVC during Shark Tank and was sold by Lori Greiner, but the products vanished sometime in 2014 due to an alleged merger with another company. As a result? Lori Greiner and Duality Cosmetics have no new products.
Something is fascinating about Barbara Lampagnales Manicure in a Bottle business. She built it on Nail Paks idea.
Grace Nail Firm is a new company that started in 2014 and sold exclusively online. The As Seen On Shark Tank banner is prominently displayed on the Grace Nail Company website.
Nail Pak Net Worth Is Estimated To Be In Range Of $100k To $500k
Barbara came into the tank with $50,000 for 20%. Barbara proved the aggravation that could occur when girls paint their nails by showing the Sharks all the things needed and then offering them her little box, all of which contained the customer. She also told the Sharks how she got the idea and that before giving out her samples, she had a patent-pending.
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Who Is The Founder Of Nail Pak
Barbara Lampugnale founded Duality Cosmetics, which produced Nail Pak. This business produced a groundbreaking product, but the results were depressing.
Initially called Nail Pak, the company later became Grace Nail. Barbara got the idea to create Nail Pak while she and her six daughters applied nail polish one afternoon.
They discovered how difficult it was to remove it after wearing it for a while. Barbara pitched her idea to her daughters, who thought making a three-in-one item would be a million-dollar idea.
Nail Pak was a unique nail polish package that included polish, remover, file, and pads in one container.
How Does Nail Pak Make Money
The cost to make one Nail Pak is $3, while the retail price is $14.99. There was a guarantee of high profits for sharks.
Customers can purchase their products online through Amazon and their website. Moreover, consider expanding your distribution to stores like Ulta beauty.
QVC subsequently sold this item following the shark tank deal. The bottles were sold in one shot, and the team earned $149,900. They had accumulated $750,000 in fortune before the shark tank update.
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Net Worth Of Nail Pak:
At the time of the shark tank appearance, Nail Pak was valued at around $125,000. They sold 10,000 bottles and made $149,900 at that one shot on QVC. They had made $750,000 before the shark tank update.
The cost of making one is $3 and sold at $14.99. Sharks were assured that the product had great margins in it. . Products are being sold online on their website and on Amazon. Also sold in stores like Ulta beauty.
Nail Pak Founder Barbara Has Six Girls Who Do Nail Nights
Barbara Lampugnale has six girls, and they would do nail nights when she came up with the idea for Nail Pak. Her nail nights are on Sunday nights. Changing your manicure is as easy as changing your mind.
The cost to make one bottle of Nail Pak is $3 and sells for $14.99 based on manufacturing runs of 10,000 runs. She applied for the patent ten months previous to appearing on Shark Tank and has invested $300,000.
Her husband is a real estate developer, but the last couple years has been challenging. She has no investors, and that’s why she is in Shark Tank.
Company: Nail PakAsk: $ 50k for 20% equityCompanies on this episode: Talbott Teas, Debbie Brooks Handbags, Trimi Tanks, LollacupSharks: Mark Cuban, Daymond John, Kevin O’Leary, Lori Greiner, Robert HerjavecFirst Aired: 04/27/2012Deal: Lori Greiner gives her $50,000 for 40%
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