Debbie Brooks Handbags
NO DEAL
EPISODE SUMMARY
🕓 Air Date: April 27, 2012
Asking For:
$540,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Debbie Brooks Handbags offers a unique line of handbags based on original artwork, featuring interchangeable magnetic designs for versatile accessorizing.
WATCH HERE
IN A RUSH?
Click these to jump to the section you want to read.
Background Story
Debbie Brooks and Paul D’Auriac, the founders of Debbie Brooks Handbags, met on a blind date and eventually married. Paul, having lost his job, encouraged Debbie’s artistic passion by providing her with the means to showcase her artwork at events like Artexpo New York. When finances became tight, Paul crafted a handbag for Debbie, which garnered attention from a woman at an airport.
This sparked the idea to venture into handbag design. With determination and ingenuity, they launched their handbag line at prestigious retailers like Henri Bendel’s, leveraging Debbie’s artwork and Paul’s salesmanship to create a successful brand.
The Product
Debbie Brooks Handbags offers a range of handbags adorned with original artwork by Debbie Brooks. The standout feature of their product line is the Magna Fab concept, which allows for interchangeable magnetic designs, providing versatility and customization options to match various outfits.
Their handbags are sold at a retail price point of $288, targeting high-end consumers in jewelry stores. The patented Magna Fab system ensures unique designs and ease of customization, distinguishing their products in the market.
How It Went
The company’s position before Shark Tank
The company has achieved $1.2 million in gross sales, with a gross profit of $685,000. They have secured placements in 1,000 jewelry stores nationwide, positioning themselves as a sought-after accessory brand in a high-end retail environment.
With a focus on direct-to-consumer and trade advertising, they aim to expand their brand presence and explore licensing opportunities. However, concerns about the valuation and patent issues were raised during negotiations, leading to no deal being made.
The Negotiations:
The Sharks expressed skepticism about the valuation and patent protection of the company. Despite interest in Debbie’s designs and appreciation for the unique Magna Fab concept, concerns about patent validity and valuation led to all Sharks bowing out.
Suggestions were made to reevaluate the valuation and address patent concerns before seeking further investment. Ultimately, Debbie Brooks Handbags left the Tank without a deal.
