Fur Shark Tank Update – Shark Tank Season 11
Pubic hair care went prime time when Fur pitched to the Sharks on Shark Tank Season 11, but did they land a deal?
Laura Schubert and Lillian Tung want a Shark to invest in Fur, their pubic hair care cosmetic company, in Shark Tank Season 11 Episode 13.
Check out more Shark Tank Season 11 Episodes.
About Fur
| Category | Details |
|---|---|
| Business Name | Fur |
| Founders | Laura Schubert, Lillian Tung |
| Industry | Cosmetics, Personal Care |
| Product | Pubic hair care products |
| Deal Status | Deal Secured with Lori Greiner |
| Investment Asked | $500,000 for 2.5% equity |
| Deal Outcome | $500,000 for 8% equity |
| Valuation | $20 million (at the time of the Shark Tank pitch) |
Laura Schubert and Lillian Tung have been friends since middle school, and they went to college and grad school at Columbia together.
After discussing the trials and tribulations of grooming pubic hair with her sister back in 2014, Laura sensed a business opportunity and began exploring products that help with conditioning and soothing hair in the nether regions. She started making phone calls and was treated as if she were making prank calls.
She knew who to call when she settled on a formula for her “intimate hair care” line. At the time, Laura was a consultant at Bain Capital, and Lillian worked at L’Oreal. The two friends got together and started Fur.
The original product was Fur Oil, a mixture of grape seed oil, jojoba oil, clary sage oil, and tea tree oil that helps prevent ingrown hairs on those who shave their pubic hair and conditions hair for those who prefer a more “natural look.”
The product line, along with the popularity of the idea of “intimate grooming,” has expanded. In addition to the original oil, they now make stubble cream (to prevent ingrown hair), bath beads, shaving cream, scrubs, wipes and more.
The women likely want a Shark’s help with broader retail distribution and marketing.
Fur Shark Tank Recap
Laura and Lillian entered Shark Tank seeking $500,000 for 2.5% of their business. They explained their business and handed out samples.
The Sharks liked their sales, which were $5 million in the past year, but they did not like the valuation. The women further explained that their product went viral after actress Emma Watson endorsed it.
Did Fur Get a Deal on Shark Tank?
Despite the valuation, some Sharks were interested. Daymond offered $500,000 for 15%. Kevin offered $500,000 for 2.5% but he wanted a one-dollar-per-bottle royalty until he recouped $1 million.
Mark went out as he believed it wasn’t for him, whereas Maria bowed out because the equity offered was too low.
Lori offered $500,000 for 12% but she also wanted a portion of each sale to go to a newly created charity that helped people feel good about their bodies. Lori also offered $50,000 in seed money to start the charity.
After negotiating the percentage down to 8%, the women closed a deal with Lori.
What Makes Fur Unique?
Its heavy focus on products designed exclusively for pubic hair sets it apart, as it is a market with much-needed innovation and few products.
Fur Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Fur saw their sales jump after they aired, but the deal with Lori never closed.
In 2020, before the pandemic, the ladies got their product on the shelves at Goop, Revolve, Neiman Marcus, Credo, Free People, and Urban Outfitters.
By April 2023, they were doing $5 million in annual revenue. Fur has an estimated net worth of over $30 million.
Posts About Fur on Shark Tank Blog
You can learn more about Fur Oil and its products on Shark Tank Blog’s product analysis.
Where Can You Buy It?
Apart from the shelves of retail stores, you can buy their products from Amazon or directly from their website. They also post frequent updates on their Facebook page.
Quick Summary
- Laura Schubert and Lillian Tung pitched Fur, a line of pubic hair care products, hoping to get $500,000 for 2.5% of their company.
- They struck a deal with Lori for $500,000 for 8%, although it didn’t go through off-screen.
- Fur’s sales still kept growing, and today the brand is worth around $30 million.
Fur did not need a Shark to thrive, but what other businesses appeared on the same episode? Check out their business updates.
