Nail Pak Nail Polish Kit
NO DEAL
EPISODE SUMMARY
🕓 Air Date: April 27, 2012
Asking For:
$50,000 for 40%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
The Nail Pak is an innovative all-in-one nail care product containing nail polish, pre-moistened pads with remover, and a nail file, providing convenience and simplicity for manicures.
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Background Story
Barbara Lampugnale, a mother of six daughters residing in West Hartford, Connecticut, conceived the idea for the Nail Pak during their family “Nail Night” tradition. Facing financial struggles and having invested nearly $300,000 into the business, Barbara saw the Nail Pak as a solution to simplify nail care routines. She took the initiative to patent the product and bring it to market, driven by a desire to improve her family’s financial situation.
The Product
The Nail Pak revolutionizes nail care by consolidating multiple tools into one compact container. With 0.8 ounces of nail polish on top, a nail file beneath, and pre-moistened pads with nail polish remover activated by pulling a tab, the Nail Pak offers a convenient and efficient solution for manicures.
Priced at $14.99, it targets customers seeking both convenience and value in their nail care routines. The product is currently undergoing manufacturing with plans for distribution through cosmetic stores.
How It Went
The company’s position before Shark Tank
Duality Cosmetics, led by Barbara, has invested heavily in the Nail Pak, with personal funding close to $300,000. The company is in the early stages of securing distribution channels, with interest from cosmetic stores but no formal agreements yet. Barbara’s background as a stay-at-home mom, coupled with her husband’s real estate background, reflects a diverse but challenging financial situation. The company’s financial health depends on securing external investment to sustain manufacturing and distribution efforts.
The Negotiations:
Barbara received two offers: Kevin O’Leary offered $50,000 for 51% ownership, focusing on immediate QVC exposure, while Lori Greiner proposed $50,000 for 40% with plans for shopping channel distribution. Despite initial interest from both sharks, Barbara ultimately declined both offers, opting to retain control of her company and explore alternative distribution channels. The negotiation showcased Barbara’s determination and belief in her product’s potential, despite the financial risks involved.
