Who?Yingchu Liu from Guelph, Ontario
ShowDragons Den Season 10: Episode 19
Asking$300k for 15%
Deal?Yes – $300k for 10% equity and 10% royalty, for 10 years with Wek
Yingchun states that although Nail Polish is a billion dollar business, it is one of the most toxic, air polluting, and unpleasant smelling products in the beauty industry.
Suncoat products were developed by replacing all the chemical solvents with water instead. This makes the nail polish non-toxic, odorless, and safe for young children. She has developed a nail polish line for adults, as well as a peel-off line for kids.
FeedbackYingchu reported that over the past few years, she’s done roughly $2.5 million dollars in sales, and has her product in various stores such as London Drugs and Whole Foods. In the past 12 months, she’s done about $500k in sales and 100k bottles. Although impressed, Joe, who has a background in the fashion industry, showed concern about competition globally from the big multinational companies as well as copycats in the market, which ultimately led him to back out. Michelle, Manjit and Jim also backed out, but Wek offered the $300k for 10% equity as well as 10% royalty for 10 years – which Yingchu took.
- Uniqueness 80%
- Visual Appeal 50%
- Usefulness 75%
- Overall 60%
If you’re interested in picking up a bottle, you can place an order here
Also, if you want to browse through their site, head over to it here
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