Two Beverly Hills bombshells, Melissa Barone and Rachel Bernstein, pitch Cashmere Hair, their line of luxurious hair extensions for women, in Shark Tank episode 512 – the Shark Tank 2013 “Holiday Special.” Melissa, a “Celebrity Hair Stylist” in Beverly Hills, and Rachel, a Makeup Artist & Model in Hollywood created the Cashmere Hair extensions initially to have fuller hair for photo shoots. When they started getting a lot of compliments and inquiries about them, they decided to start a business.
Each Cashmere Hair extension is made from 100% Remy human hair (Remy hair means the hair’s cuticles are still intact, making for a richer, more luxurious look). The clips and styling are high quality too, making Cashmere Hair the Rolls Royce of hair extensions. They sell their products right from their website and they’ve been “open for business” since April, 2013. They’re likely looking for the Sharks to help get their products into upper end salons nationwide.
Cashmere Hair Shark Tank Recap
Rachel and Melissa enter asking $45K for 15%. Melissa then says “every woman has had to fake it a time or two, especially when it comes to beauty.” Rachel then says she’s “gonna take it all off.” She removes her hair extensions and demonstrates how to remove and attach the extensions.
The Sharks ask about pricing and there are no objections. The girls reveal they’ve been in business 6 month and sold $38K worth of product. Mr. Wonderful wonders about the “false advertising” aspect, Melissa says “why not go from an 8 to a 10.” Robert likes it, but wants to know how they’re going to grow and advertise. The girls are starting to do Cashmere Hair parties.
Mark doesn’t think the business is suited for investors and he goes out. Lori asks about the prices and Rachel says they’re higher priced because of the quality. Kevin then goes out. Daymond says Cashmere Hair is about marketing and the girls don’t want his help with hair. Lori and Robert think the “hair party” idea is good, but Robert goes out. Lori says it’s going to be hard to get out in front of the competition and she goes out. Rachel consoles a crying Melissa in the hall while Mr. Wonderful asks “where can I find a woman with real hair?’
Cashmere Hair Shark Tank Update
In spite of the raking the girls took in the Shark Tank, Cashmere Hair is still growing strong. The line continues to sell briskly online through the website. The site is filled with informative tutorials and tips, which help customers understand how to care for their expensive hair extensions. The ladies have also added accessories, like holders to keep the extensions safe while traveling.
Even without a Shark deal, it seems as if Cashmere Hair has taken root in the luxury hair extensions market, and is a company that continues to grow. As of July, 2022, they are still up and running with $5 million in annual revenue.
Speak Your Mind