What Is a Laid Brand?
Pheromones are employed in the professional hair care line LAID Brand. Utilizing it will boost their confidence in addition to having the desired effect of attracting someone special. Leaving you feeling great and drawing people’s attention.
In addition to containing pheromones (human chemical perfumes), it also contains chemicals that increase shine, repair damaged hair, hydrate and protect hair, and leave hair smelling wonderful.
Related: Nophone Shark Tank Update: After “Shark Tank,” What Happened to The Fake Phone?
Who Founded Laid Brand?
Co-founders include CEO Adam Rauch, David Hensley, and Derek Shaw. At the time, Adam had spent 13 years selling and marketing products for women’s cosmetics. In hair salons, David has a job as a celebrity stylist.
Derek, who had previously worked as a business strategist, joined shortly after. All staff either continued in their current positions or moved on to new endeavors as of December 2018, when the company ceased operations.
Based on his own experience working in hair salons, David saw a market opportunity for a new hair care product at the beginning of 2010. One that made it possible for both men and women to feel and look their best.
One that radiated artistic expressiveness and self-assurance. Around the time he started creating a product line, he met a client named Adam. He pitched the idea to Adam, who agreed that it had potential based on his experience dealing with well-known beauty care companies.
Both men had the idea that this range of goods would develop into a brand. They experimented with a few prototype products using various pheromones, and the results led to $27,000.00 in-salon and online sales.
Around this time, Derek, a fellow university alum, was encouraged to join the company by Adam. In his capacity as a business strategist, he could offer advice on input and output.
The product line comprises three items, each having a humorous name. Straight 2 Kinky is a detangler, Rock in’ is hair oil, and Fill Me Up is a volumizing spray. The price per bottle is $24.99
What Happen to Laid Brand at The Shark Tank Pitch?
In Shark Tank season 8 episode 24, Adam and Derek ask for $30,000 in exchange for a 30% ownership in their company. This example shows a value of $100,000. There is a third guy who joins them.
They begin by narrating their story. The third unidentified member of the group starts applying Laid Brand stuff to the woman’s hair as soon as she walks in. The lady then gives the sharks samples.
Before getting down to business, they have a playful talk about pheromones. In 2010, Derek started the business. Adam was chosen because of his experience with hair salons. They produced a few “pilot” products, and after six months, one salon brought in $27,000.
Since they need to reformulate their product before contacting salons, the company has sadly had no sales in the past three months. When Mark and Lori both inquire about whether they have done any market research on women, the boys claim that there is a pheromonal community.
Robert disagrees politely. He has shown that adding pheromones to products is not innovative nor exclusive. Then Lori claims that nobody considered asking how much the goods cost.
According to Derek, the typical cost to produce a bottle, or their entire product blend, is $2.50. The cost to buy it online is $24.99. They are informed by Kevin O’Leary that department stores and stores like Sephora do not accept small enterprises before he leaves.
Kevin was exposed to the product, which Lori Greiner found to have no effect on him. She claimed that there is no aroma, meaning that there are too many problems with the brand. She left the room.
Although Mark Cuban thinks they can make ends meet with $30,000, that amount is insufficient for them to get where they need to go, therefore he is also out. Barbara Corcoran is not using their products because she thinks she is a walking sex goddess and cannot imagine what would happen if she did.
The fifth and final Shark to renege on the deal is Barbara, leaving Derek and Adam without financing for their Laid Brand hair-care company.
Laid Brand After the Shark Tank Pitch
In December 2018, the men decided to close the business.
Laid Brand Net Worth
In Shark Tank season 8 episode 24, Adam and Derek ask for $30,000 in exchange for a 30% ownership in their company. As an example, consider a $100,000 valuation. Since they are no longer in operation, the current net is inaccessible.
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