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Ooakshell

ooakshellMika Bertholdo hopes to wrap up a deal for Ooakshell, her line of tie-dyed headbands, silk-dyed scrunchies, and adjustable hair ties, in Shark Tank episode 1323. In 2018, Mika was suffering from postpartum hair loss plus she says she has a “big ass forehead” and she wanted to cover it up. Regular headbands weren’t doing it for her, so she made wide, adjustable headbands. She tie-dyed them and started selling them on Etsy when people asked if she could make them some.

After a few years, she moved from Etsy to her own website and began selling there. The secret to the Ooakshell headbands are how Mika incorporates rings to adjust them. The rings act something like a belt buckle which keeps the headband firmly in place while adding a bit of “bling” to it. They also let you adjust the width of the headband.

Mika sells the headbands on her website for $32 a piece. Each one is different as she tie dyes every one. There are also plain black headbands. The rings come in matte black, gunmetal, copper, rainbow, bronze, gold and rose gold colors and cost $3 per pair. She likely wants a Shark’s help with digital marketing.

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Ooakshell Shark Tank Recap

Mika enters the Shark Tank seeking $150,000 for 10% of her business. She begins by addressing the Sharkettes and asks them if they’ve ever worn a tight headband. Then she unveils her product which she says is patent pending. She demonstrates how to adjust it and the Sharks wear theirs. She says she needs a Shark’s help to “pound these out.”

They cost $1.64 to make and they sell for $35. The Sharks ooh and aah over the margins. Next, she tells her story of how she is a first generation immigrant. She was planning on being a doctor, but changed her mind with a semester left. She tells how she had post partum hair loss caused her to create her product.

Her first full year of sales in 2019 were $12,000. In 2020, she had $245,000 in sales and in 2021, she was up to $396,000 year to date (approximately half way through the year). She does everything by herself – the sewing, dyeing, packaging etc. She spends zero dollars on marketing and does all her marketing herself on social media. Each piece is unique.

Mika wants a Shark to help with fulfillment. She sold over 10,000 headbands 100% direct to consumer on her website and she has an 81% customer return rate. Emma is excited and offers $150,000 for 20%. Mark says she better say yes. Mika tears up as Emma offers her help. Emma says she has a lot of experience in the clothing industry. Mika counters with 13% and Emma declines, standing firm at 20%. Mika says yes!

Ooakshell Shark Tank Update

The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. In the immediate aftermath of the original air date, Mika sold out of product. The first rerun of this episode in August, 2022, is just three months after the original air date. As of this time, there is no evidence the deal with Emma closed. The Shark Tank Blog will follow-up on Ooakshell & Mika Bertholdo as more details become available.

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