The Shark Tank season 3 debuted, Barbara Lampugnale signed a $50,000 deal with Lori Greiner to expand the Nail Pak product line last year.
She holds an unbreakable patent on the three-in-one nail paint, remover, and file and, together with Greiner, has quickly expanded into retail.
Barbara is the mother of six daughters and runs her business, Duality Cosmetics Nail Packs, in her spare time.
What is Nail Pak?
Nail Pak is a three-in-one kit that includes nail paints, pads, and nail polish remover to remove nail polish properly.
It is the smallest portable product in cosmetics history and achieved phenomenal sales during its brief existence.
Barbara Lampugnale is the mother of six daughters and resides in West Hartford, Connecticut.
She doesn’t have much spare time, so she frequently needs a quick fix to beauty regimes like nail polishing.
The result was the creation of Nail Pak, a multi-purpose cosmetics product. The bottle looks like an ordinary nail polish bottle, but the bottom can be unscrewed to reveal a circular file and pre-soaked nail paint removal pads.
The patent for the 3-in-1 Nail Pak was used to pitch her firm in 2012 on Shark Tank. Lampugnale signed a deal with Lori Greiner, who immediately placed her on QVC. The Nail Pak (10,000 bottles) is no longer available.
|Company Name||Nail Pak|
|Product||Nail Polish Kits That Come With Polish, A Nail File, And Presoaked Polish Remover|
|Investment Seeking||$50,000 For 20% in Nail Pak|
|Final Deal||$50,000 For 40% stake in Nail Pak|
|Episode||Season 3, Episode 12|
Who is the Founder of Nail Pak?
Babara Lampugnale founded Duality Cosmetics, which produced Nail Pak. This business produced a groundbreaking product, but the results were depressing.
Initially called Nail Pak, the company later became Grace Nail. Babara got the idea to create Nail Pak while she and her six daughters were applying nail polish one afternoon.
They discovered how difficult it was to remove it after wearing it for a while. Babara pitched her idea to her daughters, who thought it would be a million-dollar idea to make a three-in-one item.
A unique nail polish package that included polish, remover, file, and pads in one container was called Nail Pak.
Nail Pak Before Shark Tank
Barbara Lampugnale designed Nail Pak to minimize the burden of purchasing so many different items to do one’s nails.
One night, she came up with the idea when her six kids were fixing their nails, and she encountered those issues.
Barbara developed a product that contained all the necessary ingredients in one container, including the nail polish remover and pads. The company is called “Duality Cosmetics.”
Barbara possessed the financial means to invest heavily in the concept, which many Shark Tank entrepreneurs lack.
She could not secure distribution before appearing on the show due to the time she spent fine-tuning other aspects of her business, such as applying for a patent and manufacturing inventory.
Barbara applied for season three of Shark Tank with hopes of growing her business.
Shark Tank Pitch Of Nail Pak
Babara possessed the financial means to invest in her firm, which resulted in a $300,000 investment. Sharks were surprised when she told them this.
She was asked how the funds were obtained by Mark. They learned she and her husband were partners in a real estate company and earned a reinvested profit.
Barbara went into the shark tank offering a 20% stake in Nail Pak’s company in exchange for a $50,000 investment.
Barbara demonstrated the products and how they include everything necessary for nail paint removal and the polish itself in a three-in-one accessory box.
Her product is pending a patent; she also informed each shark as she presented them with samples.
When Robert asked about the selling price and production cost, she replied that the manufacturing cost was $3, and the units were sold for $14.99 each.
Robert recognized the passion displayed by the product but could not assist in its sale, so he left.
Mark was unable to see the product developing into a business and hence exited.
Kevin was ecstatic with the margins and looked at Lori and remarked that it would be enormously beneficial to sell the goods on QVC.
Kevin stated that going in with Lori would be less hazardous. She declined and made a $50,000 offer for 51% of the company.
Barbara disputed Lori’s offer of $50,000 for a 40% stake in the company. Kevin advises her not to accept the arrangement, but Barbara recognizes Lori’s potential and accepts the offer, as well as the lucrative QVC support.
What Happened To Nail Pak After Shark Tank?
The QVC Queen rescues the day by selling 10,000 bottles the following day on QVC.
Her contract with Ulta beauty led to its expansion to 500 locations after it ceased sales on Amazon two weeks later.
Many stores were reached through the shark’s assistance, which enabled the firm to thrive.
The Nail Pak product sold well on QVC during Shark Tank and was sold by Lori Greiner, but the products vanished sometime in 2014 due to an alleged merger with another company. As a result? Lori Greiner and Duality Cosmetics have no new products.
Something is fascinating about Barbara Lampagnale’s Manicure in a Bottle business. She built it on Nail Pak’s idea.
Grace Nail Firm is a new company that started in 2014 and sold exclusively online. The “As Seen On Shark Tank” banner is prominently displayed on the Grace Nail Company website.
How Does Nail Pak Make Money?
The cost to make one Nail Pak is $3, while the retail price is $14.99. There was a guarantee of high profits for sharks. (More than four times!)
Customers can purchase their products online through Amazon and their website. Moreover, consider expanding your distribution to stores like Ulta beauty.
QVC subsequently sold this item following the shark tank deal. The bottles were sold in one shot, and the team earned $149,900. They had accumulated $750,000 in fortune before the shark tank update.
Is Nail Pak The Profitable?
Nail Pak is profitable and has grown in popularity over the years. The Nail Pak has evolved into a new business named GRACE NAIL that is thriving.
Is Nail Pak Still in Business?
Despite this enormous success and what appeared to be the foundation of a thriving business, it appears as though the Nail Pak has declined in recent years.
Barbara’s website, Duality Cosmetics, is currently unavailable, QVC and UltaBeauty no longer sell the product, and there appear to be no other online retailers carrying it.
The company’s Facebook page attempted to convince excited customers that “new things are happening with the product” and that they will return in spring 2015, but this did not materialize.
Many believe Duality Cosmetics went out of business for various reasons, including poor quality nail polish or possible acquisition by a larger operator.
There is no confirmed source regarding Barbara’s or the company’s whereabouts. This is surprising because the deal closed, and Lori appeared to be heavily invested in the firm’s growth; if something did go wrong with the company, she would almost certainly have attempted to preserve it.
Lori is likely to have benefitted from her transaction despite the company’s demise, as she invested only $50,000 and helped the product achieve significant sales before its mysterious disappearance.
Nail Pak is an excellent illustration of the hundreds of events even after a successfully closed deal.
It is possible for expanding companies to run into obstacles along the way, and the barrier-surmounting may never be possible regardless of whether or not a Shark is involved.
The future may not be bright for Duality Cosmetics. However, Barbara can still boast that she is producing a high-quality product.
At the same time, Lori showed that her value to the business is extensive, something many long-term successful relationships with her has demonstrated.