During the last five years, No Mo-Stache has become a successful business. The company has achieved $4 million in annual revenue and the No Mo-Stache product line has been incorporated into many retail stores. No Mo-Stache is also featured on the popular “Shark Tank” reality show. There, the founders of No Mo-Stache, Jennifer Paschall and Gita Vasseghi, pitched their product on the show. The product is a portable hair removal kit that is easily used to remove unwanted body hair.
Founded by Jennifer Paschall and Gita Vasseghi in 2012, No Mo-Stache has been in business for a year and a half. In the first year of business, they had sold $350,000 in products. No Mo-Stache has secured distribution partnerships with major retailers like Sephora and Anthropologie. In November of 2017, No Mo-Stache was featured on Shark Tank. They had pitched their product on the show and received the attention of several sharks.
During the Shark Tank episode, Jennifer and Gita requested $100,000 for 25% equity in No Mo-Stache. Fortunately for No Mo-Stache, Lori Greiner and Bethenny Frankel were willing to invest in the product. In the end, the entrepreneurs negotiated a deal with Lori Greiner for $100,000 for 25 percent in No Mo-Stache and Bethenny for $100,000 for 40 percent in No Mo-Stache. In exchange, Bethenny agreed to invest in No Mo-Stache and make it a part of her brand, Skinny Girl. She also promised to include No Mo-Stache in her beauty kits.
No Mo-Stache products are designed to fit every woman’s needs. The No Mo-Stache waxing strips are formulated to be safe for sensitive areas and are hypoallergenic. They are also very easy to apply, leaving the skin smooth and silky for three weeks. No Mo-Stache waxing strips also contain aloe balm for post-wax relaxation.
No Mo-Stache has sold over $3 million in its first two years of business. In November 2017, No Mo-Stache was featured in Shark Tank and appeared with SnoofyBee and Snarky Tea. After the show, No Mo-Stache had an offer to purchase the product from Kevin O’Leary and he offered them a deal where he would pay them $1 for each lip sold until $300,000 was paid back. Kevin O’Leary also offered to reduce the royalty fee to $0.50 for each kit sold. The deal was finalized and No Mo-Stache is now sold in 60 Sephora stores.
No Mo-Stache has received good reviews from users online and in stores. They have received a rating of 3.7/5 stars on Google. There are many stores that sell their products including Sephora, Ulta, Harvey Nichols and Anthro. In addition, No Mo-Stache waxing strips have been featured in Real Simple Magazine.
No Mo-Stache has been featured on “Shark Tank” twice. In 2017, No Mo-Stache was valued at $400,000 on the show. They have seen a 95% increase in sales and are expected to continue selling for years to come. After their appearance on “Shark Tank,” No Mo-Stache has gained distribution deals with several major retailers.