Our firm presents a Shark Tank Backed eCommerce business that markets a groundbreaking and patented product line that is growing by leaps and bounds. The company sells the only twist comb, which helps people with afro-centric hair embrace their natural twist. It is the only twist comb on the market that is portable, durable and, most importantly, washable. The company owns 2 utility patents, 1 Trademark, and lifetime free advertisement of recurring airtime on ABC’s Shark Tank. It’s like owning a patent on the modern-day afro pick.
This is the story of how the brand has been strengthened and propelled forward in its growth, but they had plenty of other advantages even before attracting a new, well-connected partner. Within just a few years, the brand has developed 5 fully branded products, a solid sales platform on Amazon, a growing wholesale base, and a thriving social media presence that has helped drive sales, now at a stunning 43% YOY growth rate.
The brand is operating in an enormously profitable and growing industry. The global hair care market is projected to reach $211.1 billion by 2025, owing to increased demand for all forms of hair products, the rising number of salons and hair stylist shops, and a growing awareness of the benefits of natural hair care products that provide nourishment to the scalp and promote hair growth.
Within the global hair care market, this brand stands out by catering to the niche field of personal care for African American individuals. The company’s products are specifically designed to allow their customers to embrace the natural uniqueness of their hair and give them the flexibility to style it at a moment’s notice, wherever they may be. A closer look at this brand’s story is important for understanding how they have become so successful so quickly.
The company was launched in 2017, after developing a unique product that is available in a variety of colors and marketed to African Americans interested in natural hair care. The company saw an opening among consumers who wanted to wear their hair naturally with no chemicals, noticing that it was becoming a popular social and lifestyle movement. Their products were created to cater to this audience. It is also important to note that their products are washable unlike other products on the market. This became an important distinction as the competition the founder is disrupting can be unsanitary and cannot be used for multiple clients. With a product that can be washed and reused, this brand has the only product in the space that has been approved by the California Board of Barbering and Cosmetology for use in barbershops in the state.
Having a product that is sanitary and safe to use is one key marketing tool, but the brand has also effectively used social media posts and videos on YouTube to demonstrate how their products are perfectly suited for getting just the right look. The company has 5 SKUs that are sold individually or in different combinations. Their Average Order Value is just $25, and sales have been rising at a tremendous rate since the national exposure. The company sources its products in the U.S., with the patented product being manufactured specifically for this brand, while they have an agreement with a supplier to private label complementary products. Their sales are mainly on Amazon, which makes up 55% of sales, while an additional 25% of sales are conducted on their website.
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.