LipStix ReMiX Shark Tank Update | LipStix ReMiX Net Worth

LipStix ReMiX, which appeared on Season 1 of Shark Tank, is a beauty product designed to help makeup enthusiasts remix and revitalize their old or unused lipsticks.

The idea behind the product is rooted in sustainability and efficiency, recognizing that many people have tubes of lipstick lying around that are either nearly used up or are simply not their favorite shade. 

The LipStix ReMiX kit contains tools and instructions allowing users to extract the remaining lipstick from the tube, combine it with other shades if desired, melt it down, and then re-form it into a new one.

It will allow users to make the most of the purchased lipstick tubes by repurposing and customizing them rather than discarding them with residual products.

This product is a great choice for several reasons. It appeals to the increasingly environmentally conscious consumer base constantly seeking ways to minimize waste.

LipStix ReMiX reduces cosmetic waste by encouraging the repurposing of otherwise discarded lipstick. It allows for customization, allowing users to experiment with creating shades.

This can attract those who enjoy expressing their individuality and creativity through makeup. It offers a cost-effective solution. Users can save money by fully utilizing their existing lipsticks with LipStix ReMiX instead of buying new ones.

LipStix ReMiX, as seen on Shark Tank, is an environmentally friendly and cost-effective beauty tool that enables consumers to maximize their lipstick usage, reduce waste, and explore their creativity in makeup.

Company NameLipStix ReMiX
EntrepreneurJill Quillin
ProductRepair or reuse broken or melted lipsticks
Investment Asking For$105,000 for 30% equity in Lipstix Remix
Final Deal$105,000 for 50% equity in Lipstix Remix
SharkKevin Harrington, Barbara Corcoran, And Daymond John
LipStix ReMiX EpisodeSeason 1, Episode 13
LipStix ReMiX Business StatusOut Of Business
LipStix ReMiX WebsiteVisit Website
LipStix ReMiX Net Worth$0

What Is Lipstix Remix?

LipStix ReMiX is a company known for its LipStix ReMiX kit. This kit allows users to repair or melt broken lipsticks and mix colors and formulations to create custom shades and textures. 

The kit includes a patented system with a microwave and a home freezer to melt and remold the lipstick.

The LipStix ReMiX kit is designed to help consumers make the most out of their lipstick purchases. The kit allows users to salvage the bottom third of bullet lipstick tubes or the portion anchored to the tube that often goes to waste.

Lipstix Remix Shark Tank Update

Users can create new lip color combinations and formulations by repairing or melting broken lipsticks. The process involves using a microwave to melt the lipstick and a home freezer to remold it into a new shape.

The kit includes tools and instructions to make the process easy and convenient. LipStix ReMiX kits let users experiment with different colors and textures, creating shades.

LipStix ReMiX offers lipstick enthusiasts an environmentally friendly and cost-effective solution to wasted lipstick. Moreover, users can mix and match colors to create personalized lip shades.

LipStix ReMiX offers a creative approach to lipstick customization, allowing users to get more value out of their lip products and explore endless possibilities for lip looks.

Who Is The Founder Of Lipstix Remix?

LipStix ReMiX was founded by Jill Quillin, a creative entrepreneur with a knack for resourcefulness. 

Jill did not come from a traditional business background. Instead, she was a mother and a wife who sought to solve a common problem experienced by women who use lipstick.

The idea for LipStix ReMiX was born out of Jill’s frustrations with her lipsticks. She noticed that a significant amount of product remained in the tube even after the lipstick could no longer be conveniently applied.

Not wanting to waste the remaining lipstick, she began experimenting with ways to remove and reuse this leftover product. 

After recognizing that her friends and family shared the same issue, she decided to turn her solution into a business. Thus, LipStix ReMiX was created.

LipStix ReMiX Shark Tank Update | LipStix ReMiX Net Worth

Before appearing on Shark Tank, LipStix ReMiX had already gained some traction. Jill had been selling the kits online and had seen some success.

However, the opportunity to present her product to a national audience on Shark Tank represented a significant potential step forward for the company.

She entered the show hoping to gain the investment and mentorship that could help her scale her business to new heights. 

Her approach to solving a common problem made LipStix ReMiX an interesting and compelling pitch for investors.

How Was The Shark Tank Pitch Of Lipstix Remix?

Jill Quillin, founder of LipStix ReMiX, entered Shark Tank seeking an investment of $105,000 for a 30% equity stake in her company, valuing the company at $350,000.

Her pitch began by explaining her motivation behind creating the product, attributing her desire to save money by reusing leftover lipstick and her entrepreneurial drive to remedy a common problem.

She demonstrated her product, illustrating how lipstick could be heated, remolded, and reapplied without losing its quality. The Sharks expressed a mix of interest and skepticism.

Kevin O’Leary questioned the quality of the remolded lipstick, and Jill assured him that heating and reforming lipstick is common in manufacturing and does not affect its quality.

Robert Herjavec expressed doubts about its viability in the retail market, suggesting that a television shopping channel would be a more appropriate platform. 

Despite this advice, Jill was convinced that her product could successfully transition from TV sales to retail shelves.

Kevin Harrington inquired about her current sales. Jill shared that she had been selling her product in a small local market, moving about 800 units, and making around $6,000 during Christmas by setting up a stall in a local mall.

The Sharks’ investment decisions were split. O’Leary and Herjavec opted out due to unfamiliarity with the lipstick market and perceived lack of potential in retail sales.

Barbara Corcoran, appreciative of the product’s innovation, offered half the asked investment and suggested partnering with another Shark.

Harrington and Daymond John were interested in investing, proposing a joint deal for $105,000 in exchange for a 40% stake in the company, with John focusing on retail and Harrington on television.

Upon discussing further, a revised offer was put forth: a three-way deal involving Corcoran, Harrington, and John, where they would collectively invest $105,000 for a 50% stake in the company.

Jill accepted this deal after hesitation and consultation with her husband and business partner.

Post Shark Tank, LipStix ReMiX experienced a period of increased sales and success due to the involvement of the Sharks. However, Jill had to discontinue the product in 2013 for undisclosed reasons.

Final Deal: Barbara Corcoran, Kevin Harrington, and Daymond John agreed to invest $105,000 For a 50% stake in Lipstix Remix.

Did LipStix ReMiX Get a Deal on Shark Tank?

LipStix ReMiX did receive a deal on the television show Shark Tank. The founder of LipStix ReMiX, Jill Quillin, appeared on the show seeking an investment of $105,000 for 30% equity in her company. 

During her pitch, she showcased LipStix ReMiX, a kit that allowed users to repair or reuse broken or melted lipsticks and create custom shades and textures.

Barbara Corcoran was the first shark to express interest in the product, offering $110,000 and inquiring if the other sharks would invest the remaining $50,000. 

Jill mentioned that the kit could sell up to seven units per customer in stores.

Daymond John then offered $105,000 for a 40% stake in LipStix ReMiX. Kevin Harrington decided to join Barbara, and together they made an offer of $105,000 for 50% of the business. After consulting with her spouse, Jill accepted the deal.

Ultimately, LipStix ReMiX secured an investment of $105,000 for a 50% equity stake from Barbara Corcoran, Kevin Harrington, and Daymond John on Shark Tank.

What Happened To Lipstix Remix After Shark Tank?

After LipStix ReMiX appeared on Shark Tank, the business experienced a significant boost in visibility and exposure.

The entrepreneurs behind LipStix ReMiX were able to present their products to a wide audience, including potential investors and customers. This exposure led to an increase in sales and brand recognition for LipStix ReMiX.

Furthermore, the entrepreneurs received valuable feedback and advice from the panel of investors on Shark Tank.

They were able to refine their business strategy and make necessary improvements to their product. This guidance helped them streamline their operations and enhance the overall customer experience.

As a result of their appearance on Shark Tank, LipStix ReMiX secured investment offers from multiple sharks.

The entrepreneurs carefully evaluated these offers and selected a strategic partner who shared their vision for the future of the business.

Lipstix Remix Shark Tank Update

With the support of their new investor, LipStix ReMiX was able to scale up production and expand distribution channels.

The increased visibility from Shark Tank also opened doors to various partnership opportunities for LipStix ReMiX.

They collaborated with well-known beauty influencers and celebrities, further propelling their brand into the mainstream market. These partnerships helped create buzz and generate even more sales for LipStix ReMiX.

The appearance on Shark Tank proved to be a turning point for LipStix ReMiX. It provided them a platform to showcase their product, receive valuable guidance, secure investment, and form strategic partnerships.

As a result, LipStix ReMiX was able to grow its business and establish itself as a prominent player in the beauty industry.

Lipstix Remix Shark Tank Update

After appearing on Shark Tank, LipStix ReMiX initially experienced some success and saw an increase in sales.

The founder, Jill Quillin, made a deal with Barbara Corcoran, Kevin Harrington, and Daymond John, who offered $105,000 for a 50% stake in the business.

However, LipStix ReMiX faced challenges despite the initial boost and ultimately went out of business in 2022. The company discontinued selling its lipstick kits due to an incident in 2013.

While Jill still owns the patent for the original design of the kits, it is unclear if she plans to resume selling LipStix ReMiX in the future.

The company has not explicitly explained the exact reasons for the closure of LipStix ReMiX, but they expressed gratitude to their customers and followers for their support over the years. As of now, LipStix ReMiX is no longer in business.

Is Lipstix Remix Still In Business?

Our research shows that Lipstix Remix is no longer in business. The company decided to discontinue selling its kits, as mentioned by the founder, Jill Quillin, in a media post in 2013.

Although Lipstix Remix succeeded in sales after appearing on Shark Tank and generated a revenue of $6,000 from selling 544 units of its kits, it faced obstacles that led to its discontinuation. Therefore, Lipstix Remix is no longer operational.

What Is the Net Worth Of Lipstix Remix?

According to our research, the net worth of LipStix ReMix has been $0 since the company went out of business. The valuation of LipStix was $210,000 after securing an investment from Kevin Harrington, Barbara Corcoran, and Daymond John on Shark Tank.

Also, read about other businesses that appeared on Season 1 of Shark Tank:

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