M3 Girl Designs Bottle Cap Jewelry
DEAL
EPISODE SUMMARY
🕓 Air Date: February 17, 2012
Asking For:
$300,000 for 15%
Investor:
Robert Herjavec, Mark Cuban, Lori Greiner (33.3)
Deal:
$300,000 for 30%
PRODUCT SUMMARY
M3 Girl Designs offers jewelry for girls ages 8 to 80, with their signature product being Snap Caps, the original interchangeable magnetic bottle cap necklace, alongside Spark of Life, adjustable necklaces, and stackable bracelets.
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Background Story
The journey of M3 Girl Designs began with Maddie’s creative ingenuity. At the age of 10, she found herself dissatisfied with the selection of locker magnets available and decided to craft her own using recycled bottle caps. This endeavor not only sparked Maddie’s entrepreneurial spirit but also captured the interest of her friends, leading to the inception of M3 Girl Designs, named after Maddie, Margot, and their mom, Diane. With Margot’s support and Diane’s guidance, Maddie’s vision expanded to create a diverse range of jewelry offerings, catering to different tastes and age demographics.
The Product
Snap Caps revolutionized the jewelry market with its innovative design, allowing wearers to personalize their accessories effortlessly. These magnetic bottle cap necklaces quickly gained popularity and became the cornerstone of M3 Girl Designs’ success.
In addition to Snap Caps, Spark of Life offers a versatile collection of adjustable necklaces and stackable bracelets, appealing to a broader audience. All products are meticulously handmade in their Dallas office, ensuring quality and attention to detail.
How It Went
The company’s position before Shark Tank
Since its inception in 2006, M3 Girl Designs has experienced significant growth, with sales exceeding $5 million over the past five years. Their widespread presence in over 1,000 stores nationwide, including specialty boutiques, apparel stores, toy stores, and large department stores, underscores the brand’s appeal and market reach.
With a focus on maintaining high profit margins, the company has cultivated strategic partnerships with wholesalers and sales representatives to facilitate distribution. Structurally, ownership of the company is shared among Maddie, Margot, and Diane, reflecting their commitment and dedication to the business’s success.
The Negotiations:
The negotiation process in the Shark Tank showcased the Bradshaw family’s entrepreneurial acumen and the Sharks’ keen interest in their business. While initially seeking a 15% equity stake, the Bradshaws received competitive offers from Mark and Lori and Kevin and Robert.
After deliberation, they opted for Mark and Lori’s offer, recognizing the value of their mentorship and industry connections. The negotiation underscored the Bradshaw family’s resilience and strategic decision-making, positioning M3 Girl Designs for continued growth and success in the competitive jewelry market.
