Nopalera – Bath & Body Botanicals
NO DEAL
EPISODE SUMMARY
🕓 Air Date: January 20, 2023
Asking For:
$300,000 for 5%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Nopalera offers a range of skincare products featuring the versatile nopal (cactus) as a key ingredient, with a mission to celebrate Latino culture and inspire self-worth.
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Background Story
Sandra Velasquez, the founder of Nopalera, hails from Southern California and is of Mexican heritage. She grew up with a deep appreciation for the nopal (cactus), a versatile plant used in various ways. After a career as a musician and lead singer of the Latin alternative band Pistolero, Sandra found herself unemployed at the age of 43, burdened with student loan debt and a child to raise in New York. Determined to change her life, she embarked on a journey to create something significant.
The idea for Nopalera stemmed from her desire to celebrate and elevate Latino culture while changing the perception of Latino goods. Sandra enrolled in formulation school and recognized a gap in the market for products that represent her culture. She was motivated to show her community what is possible and to inspire others to be proud of their heritage rather than aspire to Eurocentric brands. Nopalera was born out of a mission to make people feel seen and valued.
The Product
Nopalera’s product range includes nourishing cactus soaps, cactus flower exfoliants, and moisturizing botanical bars. The products are infused with the nopal (cactus) as a star ingredient, known for its versatility.
The Noche Clara is a sage and eucalyptus-scented product, and the Moisturizing Botanical Bar is a solid body moisturizer designed to replace plastic bottles of lotion. It’s applied by rubbing it on the skin, providing an eco-friendly alternative to traditional liquid lotions.
One notable feature of Nopalera’s products is that they contain no water, unlike traditional lotions which are often made up of 70% water. This aligns with the brand’s eco-conscious approach, as it helps reduce the use of plastic bottles.
Nopalera’s range of bath and body products aims to represent and celebrate Latino culture while offering sustainable, high-quality alternatives to mainstream beauty products.
Nopalera products can be purchased directly from the company’s website, making them accessible to consumers online. The price range varies depending on the specific product but is positioned competitively in the beauty and skincare industry.
How It Went
The company’s position before Shark Tank
Nopalera had a strong start, with its founder, Sandra Velasquez, launching the brand in November 2020 in the midst of the pandemic. In its first full year of operation in 2021, the company achieved impressive sales of $607,000. By the time of the Shark Tank pitch, the company’s year-to-date sales for the current year were at $335,000, with a projected goal to reach $1 million in sales for that year.
The company’s sales distribution is split evenly between direct-to-consumer (D2C) and wholesale, indicating a balanced approach to reaching customers. Nopalera has secured partnerships with prominent retailers, including Nordstrom, Credo Beauty, Free People, and over 350 boutiques nationwide. These partnerships have helped the brand establish its presence and reach a broader customer base.
The company’s funding primarily comes from its own revenue generation. It is noteworthy that Nopalera is at a pivotal stage of growth, with significant interest from international markets and top beauty retailers. This interest suggests a promising future and a potential for rapid expansion. The company is structured to leverage this growth opportunity and maximize its potential, focusing on increasing its operational capacity to meet the demands of a growing customer base.
The Negotiations:
During the Shark Tank pitch, Sandra Velasquez initially sought $300,000 in exchange for 5% equity in her company, Nopalera. She showcased the company’s product range, which included cactus-based bath and body products with a strong emphasis on sustainability and eco-friendliness.
Kevin O’Leary and Daniel Lubetzky both made offers to invest $300,000 in Nopalera. Kevin offered to invest in exchange for 30% equity, while Daniel proposed a deal for 25% equity. However, Sandra politely declined both offers, indicating that they didn’t align with her vision for the company and her self-worth. She valued her company more highly.
Sandra’s unwavering belief in her brand and mission to celebrate Latino culture was a central theme throughout the pitch. Despite being given an opportunity to negotiate, she firmly stood her ground on her initial equity ask. Lori Greiner, Daymond John, and Mark Cuban all commended Sandra for her dedication to her brand and her self-confidence, even though they chose not to invest.
