Face Blok
NO DEAL
EPISODE SUMMARY
🕓 Air Date: September 6, 2009
Asking For:
$50,000 for 30%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Face-Block offers a collection of fashion surgical masks designed for individuals with an edgy sense of humor who want to express themselves creatively.
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Background Story
Irina Blok, the creator of Face-Block, introduced her innovative product on Shark Tank. Blok brought her background in design and creativity to the forefront with Face-Block. With experience in graphic design and branding, she identified an opportunity to inject fun and personality into everyday items, leading to the inception of Face-Block. Blok’s inspiration for Face-Block stemmed from the desire to transform the mundane surgical mask into a fashion statement.
Recognizing the increasing prevalence of mask-wearing during health crises like the swine flu epidemic, Blok saw an opportunity to merge practicality with creativity. Drawing on her edgy sense of humor and penchant for unconventional design, she conceptualized a collection of fashion surgical masks that would appeal to individuals seeking to express themselves uniquely.
The idea behind Face-Block was to cater to a niche audience of people who dare to stand out and make a statement, even in the most unexpected circumstances. Blok’s background in design and branding equipped her with the skills to conceptualize, prototype, and market her innovative product effectively. Despite facing skepticism from the Sharks regarding the product’s market potential, Blok remained steadfast in her belief in Face-Block’s appeal to a specific demographic.
The Product
Face-Block offers a unique twist on traditional surgical masks, providing a range of fashion-forward designs for individuals looking to express their personality while prioritizing safety. These masks are crafted with creativity in mind, featuring playful designs such as pig snouts and other whimsical motifs. While not intended for medical use like standard surgical masks, Face-Block masks serve as fashion accessories that add flair to any outfit.
The masks are constructed from lightweight, breathable materials for comfortable wear, with adjustable straps to ensure a secure fit. They are designed to be reusable, making them both eco-friendly and cost-effective for consumers.
Face-Block masks cater to a diverse range of customers, from fashion enthusiasts to those seeking novelty items for themed parties or events. They can be purchased online through the Face-Block website or select retail partners.
While the exact pricing may vary depending on the design and materials used, Face-Block masks are positioned as affordable fashion accessories, making them accessible to a wide audience. With their eye-catching designs and practical functionality, Face-Block masks offer a fun and creative way for individuals to stay stylish while staying safe.
How It Went
The company’s position before Shark Tank
Face-Block entered the market with a burst of publicity, garnering significant attention during the swine flu epidemic due to its unique approach to surgical masks. Despite the initial buzz, the company faced challenges in translating website hits into substantial sales. Irina Blok, the founder, cited interest from foreign markets, particularly regions where mask-wearing is more common, as potential growth opportunities. However, the Sharks expressed doubts about the product’s long-term viability and appeal beyond novelty.
The company’s primary customer base consists of individuals with an edgy sense of humor who are looking for unique ways to express themselves. Regarding funding, Face-Block sought a $50,000 investment from the Sharks in exchange for a 30% equity stake. However, the Sharks ultimately declined to invest, citing concerns about the product’s market appeal and profitability. As a result, the company’s current funding status is uncertain, and it may need to explore alternative sources of financing to support its operations and growth.
In terms of profitability, Face-Block experienced moderate success with a couple of hundred sales following its initial launch. However, without further investment or strategic partnerships, the company’s profitability may be limited in the short term. Overall, Face-Block is structured as a startup venture, with Irina Blok serving as the founder and likely holding a significant ownership stake in the company. While the product has garnered attention for its novelty and creativity, its long-term success hinges on its ability to expand its customer base, secure strategic partnerships, and navigate challenges in the competitive fashion accessory market.
The Negotiations:
During the negotiation phase on Shark Tank, Irina Blok sought a $50,000 investment in exchange for a 30% equity stake in Face-Block. However, the Sharks expressed skepticism about the product’s market potential and profitability. Robert Herjavec questioned the functionality of the masks, asking if they provided actual protection against disease, to which Blok admitted that they did not. Despite the novelty of the product, Kevin O’Leary pressed Blok on the limited sales volume, questioning why only a couple of hundred sales were made despite significant website traffic.
While the Sharks acknowledged Blok’s creativity and the unique nature of Face-Block, they ultimately concluded that it was more of a novelty item than a serious investment opportunity. Daymond John and Barbara Corcoran were the first to bow out, citing concerns about the market appeal and practicality of the product. Kevin O’Leary and Lori Greiner followed suit, expressing doubts about Face-Block’s ability to generate significant profits.
Mark Cuban, known for his investments in tech and consumer products, expressed his admiration for Blok’s creativity but ultimately opted out, stating that he didn’t see the market potential for the product. With no offers on the table, Blok graciously thanked the Sharks for their time and departed the Tank without securing a deal. Despite the setback, Blok remained optimistic about the future of Face-Block and its potential to find success outside of the Shark Tank.
