"Little bit of an ouch" When Shark Tank's Barbara Corcoran gave Luna Magic Beauty some tough love 

Shaira and Mabel Frias walked into the spotlight on Shark Tank in January 2021, ready to showcase their makeup line, Luna Magic Beauty. The sisters pitched their brand—designed specifically for Latino and African-American customers, seeking $200,000 for a 10% stake in their business.

Their pitch impressed the Sharks, but not without some painful feedback. In a post-pitch interview, Mabel revealed the sting behind investor Barbara Corcoran's critique:

"You know, we underestimated how difficult the shark tank is, but we're very grateful that we walked away with a deal. I mean, obviously the word 'messy' was a little bit of an ouch."

The sisters managed to get an offer from Corcoran despite this difficult period, underscoring the emotional rollercoaster that business owners go through when trying to get finance and mentorship through the reality show where they pitch to affluent investors.

What happened during Luna Magic Beauty’s Shark Tank pitch?

Shaira and Mabel Frias, who were raised in New York City and were born to Dominican parents, contributed complimentary abilities to their beauty business. Shaira's journalism background and professional beauty expertise were a natural fit with Mabel's experience working as a digital strategist for makeup firms.

When they started Luna Magic Beauty in 2019, their goal was to provide women of color with high-quality, reasonably priced makeup. The sisters used their own experiences to pinpoint this market niche.

Shaira explained during their pitch:

"We came up with the business idea after we struggled to find cosmetics that were formulated with our skin tone in mind"

Before their TV appearance, the brand had already gained significant traction. They won a $30,000 Glossier Grant for Black innovators in 2020 and secured placement in Walmart stores nationwide.

The Frias sisters brought impressive numbers to the Tank. They had no debt, $157,000 in cash, and distribution deals with major retailers. This business savvy quickly caught the Sharks' attention.

Despite the strong foundation, most investors declined to make offers. Mark Cuban and Kevin O'Leary opted out first. Guest Shark Alex Rodriguez, then engaged to Jennifer Lopez, cited a conflict of interest, likely due to JLo Beauty. Lori Greiner also had competing interests.

Barbara Corcoran remained. She praised the sisters' potential but didn't mince words about their operation, calling their business "messy" – the comment that caused the "ouch" moment.

Nevertheless, Corcoran saw promise. She offered $250,000 as a line of credit to fund orders in exchange for 30% equity. The sisters accepted the deal on air, though the ultimate fate of the partnership remains unclear.

What happened to Luna Magic Beauty after its Shark Tank appearance?

Whether or not the Corcoran deal is finalized, Luna Magic Beauty has flourished since their TV appearance. Their website carefully notes they "walked away with a deal offer" – wording that suggests the partnership may not have materialized.

The sisters' careful language in their post-show interview hints at possible tension. The "messy" comment struck a nerve, potentially affecting their willingness to partner with Corcoran long-term.

Regardless, Luna Magic Beauty has expanded impressively. Beyond their initial Walmart placement, they've secured spots in Target and CVS stores. By May 2023, their projected annual revenue reached $1.7 million according to Shark Tank Blog.

The Frias sisters' success stems from savvy marketing beyond their Shark Tank exposure. Their Instagram page buzzes with regular updates, complemented by an active beauty newsletter promoting sales.

They've embraced the subscription box trend, collaborating with Boxy Charm and IPSY to introduce their products to new customers. Using her Instagram stories to showcase Luna Magic's popular lash primer, Kylie Jenner expanded their exposure.

Their product collection has expanded significantly to include lip liners, bronzers, highlighters, brow products, beauty brushes, lashes, and balms.

In today's social media-driven market, the company also launched a program for brand ambassadors that allows influencers to be the first to know about new products.

In 2023, the sisters launched the Mentor Magic program during Hispanic Heritage Month. This initiative supports Latina women in the beauty industry.

Partnering with Prose, they awarded Honey Beauty NYC $10,000 to help the rising business grow. After hosting the first event in New York City, they announced plans to bring the program to Los Angeles next.

While Mabel has since left Luna Magic to found fragrance brand Love Magia, Inc., Shaira continues to lead Luna Magic's growth and community initiatives.

From a "messy" start on "Shark Tank" to a thriving beauty brand, Luna Magic Beauty demonstrates how constructive criticism – even when it hurts a little – can help fuel business success when combined with vision, determination, and community support.

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You can watch Shark Tank on ABC on Fridays at 8 PM ET, with streaming available on Hulu.