Laid Brand Pheromone Infused Hair Care
NO DEAL
EPISODE SUMMARY
🕓 Air Date: May 12, 2017
Asking For:
$30,000 for 30%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Laid Brand offers a line of professional hair-care products infused with a proprietary blend of pheromones, designed to boost confidence and attract positive social reactions.
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Background Story
Laid Brand, founded by Adam Rauch and Derek Shaw, traces its roots back to 2010 when it started as a single product for men. The journey took a significant turn when Derek, recognizing the potential for more than just a singular product, sought the expertise of Adam. With 13 years of experience in beauty care, primarily on the female side, Adam brought a wealth of knowledge to the partnership. The genesis of Laid Brand was marked by a strategic shift from a single product to a potential lifestyle brand. Derek and Adam launched pilot programs featuring both male and female products, each infused with distinct pheromones.
The duo aimed to tap into the uncharted territory of pheromone-infused hair care, a unique proposition in the competitive beauty industry. Their initial success story unfolded with sales reaching $27,000 in the first six months through a single salon and e-commerce channels. However, faced with the need for further refinement and testing, the founders made the strategic decision to pause sales temporarily. This hiatus aimed at ensuring the products met high-quality standards before expanding to additional salons. The motivation behind Laid Brand’s unique product line lies in its founders’ belief in the transformative power of pheromones.
Drawing inspiration from historical instances, such as Napoleon’s letters to Josephine, where he requested she abstain from bathing to preserve her essence, the founders harnessed the potential of pheromones to instill confidence and positive social reactions. Despite facing skepticism from the Sharks during their pitch, the founders remained resolute in their commitment to making Laid Brand a groundbreaking success in the world of pheromone-infused beauty products. The current location of Laid Brand is not specified in the provided information.
The Product
Laid Brand’s product line is centered around professional hair-care products uniquely infused with a proprietary blend of pheromones. Geared towards both enhancing personal confidence and attracting positive social reactions, these products aim to go beyond traditional hair care. The lineup includes women’s hair-care products with features such as color protection, hydration, and hair repair. Notably, all products are paraben-, sulfate-, and cruelty-free, aligning with contemporary beauty standards.
The core idea behind Laid Brand is the incorporation of pheromones into the hair-care routine. Pheromones, chemical messengers excreted through sweat and bodily fluids, are believed to have the potential to make individuals feel more confident and attractive. The founders emphasize that these unique products not only leave hair looking stunning but also contribute to an overall sense of beauty and confidence.
For those interested in trying the phero-fabulous fragrance, the products can be purchased online, with a blended cost of $2.50 per unit. Online retail prices stand at $24.99, showcasing intentional pricing strategies to maintain competitive margins. The founders highlight the unique nature of their product within the hair-care industry, asserting that the inclusion of pheromones sets Laid Brand apart.
How It Went
The company’s position before Shark Tank
Laid Brand experienced an initial success story, generating $27,000 in sales within the first six months through a single salon and e-commerce channels. However, recent sales have been halted as the founders, Adam Rauch and Derek Shaw, prioritized product refinement and testing to ensure the highest quality before expanding to additional salons. The decision to pause sales may have impacted the company’s short-term revenue, but the founders remain confident in the long-term benefits of their strategic approach.
The company seems to have undergone a phased launch strategy, starting with a single salon and e-commerce, possibly indicating a deliberate approach to test and refine their products before broader market expansion. The details about the company’s financial health and structural organization remain undisclosed, leaving gaps in understanding Laid Brand’s current financial standing and operational structure.
Given the recent sales hiatus and the skepticism expressed by the Sharks during the pitch, it would be essential for Laid Brand to reassess its market strategy, possibly seeking strategic partnerships, expanding distribution channels, and addressing any concerns raised by potential investors. A transparent communication of the company’s financials and strategic direction would be crucial for attracting potential partners and investors in the competitive beauty industry.
The Negotiations:
The negotiation between Laid Brand founders, Adam Rauch and Derek Shaw, and the Sharks did not result in a successful deal. Seeking $30,000 for a 30% equity stake in their pheromone-infused hair-care business, the founders faced a series of challenges and critiques from the Sharks. From the outset, Lori Greiner questioned the provocative nature of the brand name, expressing concern about whether women would want to be associated with being a “Laid Brand” kind of girl. While the founders defended the provocative naming strategy by citing contemporary trends in cosmetic branding, the Sharks raised further concerns about the uniqueness of the product and its market appeal.
The Sharks collectively expressed reservations about the effectiveness of adding pheromones to a product, highlighting that it is neither unique nor difficult to replicate. Kevin O’Leary, known for his straightforward approach, criticized the lack of energy in the founders’ presentation, stating that he prefers to invest in individuals with high energy levels. Ultimately, all the Sharks decided to pass on the opportunity, with Mark Cuban emphasizing the intense competition in the hair-care industry and the challenges of securing shelf space in major retail outlets.
Lori Greiner, Daymond John, and Kevin O’Leary echoed these sentiments, citing concerns about market saturation, competition, and the product’s uniqueness. Despite the rejection, the founders remained optimistic, expressing gratitude for the advice received and their unwavering commitment to making Laid Brand a success. The negotiation highlighted the challenges of introducing a seemingly unique but contentious product into a highly competitive market, emphasizing the importance of addressing concerns raised by potential investors in future pitches.
