Monique Little and David Dundas hope to wrap up a deal for You Go Natural, their line of satin lined head wraps, in Shark Tank episode 1418. Monique founded the business back in 2016 with a sewing machine in her mother’s living room. David, who is Monique’s brother and an influencer marketing specialist, joined the firm in early 2021. The company makes and sells headbands, turbans, head wraps and durags for men and women with textured hair.
They boast over 100 styles to keep textured hair moisturized and they’re all water proof too. Monique says she wants to “make your life more vibrant & effortlessly chic, starting from the very top – your hair.” Prices vary, depending on the style you choose, but everything on their website is $45 or less.
Everything is made in an 8000 square foot facility in the Dallas area. They claim to have served over 70,000 customers over the years. Back in April, 2021, they raised $2 million to open their factory. In addition to selling on their website, You Go Natural products can be found in Urban Outfitters and Target stores. Monique and David likely want a Shark’s help managing growth.
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You Go Natural Shark Tank Recap
Monique and David enter the Shark Tank seeking $400,000 for 5% of their business. David goes on to talk about bad hair days and how some people can’t just put on a hat because natural hair can get damaged. One solution is a head wrap, but cotton and polyester head wraps can damage hair and they can be hard to wrap. So Monique created satin lined, easy tie head wraps. They’re designed to protect and promote the health of your hair. The core line consists of turbans in lots of styles for men and women. Their newest product, the swim turban, is silicone lined and protects hair from salt water and chlorine. They’ve built a big online customer base and want a Shark’s help making You Go Natural a household name.
The Sharks examine their samples and David says their swim turban video went viral on Tik Tok with over 10 million views. They sold tens of thousands of them in the summer of 2022. Lori says the wraps have a very luxurious feel. Next, they instruct Daymond on how to put a wrap on and he asks “why didn’t I think of this.” They do all their manufacturing in Dallas and cost $4-$7 to make and sell for $35-$48.
Kevin, as usual, wants to know about sales. They have $15 million in lifetime sales. In 2020 they did $2 million, in 2021 they did $7.5 million in 2022 they’re on track for $10 million in sales. In 2021, they raised $2 million to expand the product line and invest in the manufacturing facility. The same year, they lost $2 million; they’ll be profitable in 2022. The reason they lost $2 million is they over ordered inventory. The company has $100,000 in the bank. The wraps will be in 316 Target stores in February, 2023. Customer acquisition cost is $30.
Barbara thinks she can’t bring anything to the table; she’s out. Kevin says when he heard their sales numbers, he wished he could grow his hair back. He’s not a fan of the retail play – it’s not for him; he’s out. Daymond likes the product, but it would take him at least 5 years to get his money back; he’s out. Lori loves the product but the losses scare her; she’s out. Mark says he’s willing to make an offer, but it’s going to be “really Sharky.” He offers $400,000 for 20%. David counters with $00,000 for 12% then he says he’s offering a debt/royalty deal for any Shark. Mark asks if he loaned them $400,000 with a $3 royalty on the headbands and a $5 royalty on everything else until the loan is paid back, what equity would they offer. David says 7%. Mark says make it 10% and you have a deal. Monique and David accept.
You Go Natural Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show.
The company saw a lot of sales due to “The Shark Tank Effect” after the show originally aired. They had so many sales, they ran into some fulfillment issues which they eventually worked out of. The first rerun of this show in July, 2023, is just two months after the original air date. At this time, there is no evidence the deal with Mark closed.
The Shark Tank Blog will follow-up on You Go Natural & Monique Little and David Dundas as more details become available.
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