Luna Magic Net Worth 2022 – What Happened After Shark Tank

The female Latin owned and run, Luna Magic, has set its place in the industry with its skin-inclusive make-up and skincare line. The line focuses on bringing beautiful make-up and skincare to women of all colors.

The Frias sisters, Mabel and Shaira, approached the Sharks for a $200,000 investment in exchange for a 10% stake in the business. Unfortunately, most Sharks had dealings with competitor businesses and jumped ship with words of encouragement.

Barbara Corcoran stepped up and offered the women a $250,000 line of credit, future funding opportunities in exchange for 30% equity.

Luna Magic Quick Facts 

Name:

Luna Magic

Net Worth (2021):

$1,900,000

Pitch:

Quality, affordable cosmetics

Entrepreneur:

Shaira Frias & Mabel Frias

Asked for:

$200,000 for 10%

Deal:

$250,000 credit for 30%

Shark:

Barbara Corcoran

Monthly income:

$58,000

What is Luna Magic?

Luna Magic is a skincare and beauty line that boasts beautifully bright colors and focuses on skin/shade inclusivity. Their products have a high end feel to them but are sold at affordable prices.

Luna Magic sells a number of make-up items as well as face masks, fragrances, hair clips, Latina pride shirts, and faux mink.

Who are the Frias sisters?

Luna Magic was founder by two sisters. Mabel and Shaira Frias. Mabel has her Masters in History of Decorative Arts and Design from Parsons School for Design and Shaira has studied broadcast journalism through CUNY-Brooklyn College.

The sisters launched their authentically Latina line in 2019 which would have a high color payoff on any complexion. Their products are named for aspects of their cultural heritage that they hold very dear.

This style of branding and authenticity set them apart from their competitors very early on in the business.

What happened during the pitch?

The Friar sisters approached the Sharks because they needed help with the logistics of the business. They asked the Sharks for a $200,000 investment for 10% equity.

The Sharks enjoyed their product and their business but could not invest as they all have interests in competitors’ businesses in the same area.

Barbara Corcoran however, decided to offer them a line of credit of $250,000 in exchange for 30% equity. The Shark also said that she would help with funding future orders for Luna Magic.

Happily, the sisters accepted Corcoran’s offer and are in business.

The investment

The Los Angeles based business has continued to do well with Barbara Corcoran’s financial and business help.

They have also helped their employees to grow and take part in the business. They promoted a worker to a warehouse manager as they believe in investing in their own community. Watch it here.

Conclusion

Luna Magic has done exceptionally well in the short amount of time they have been active.

Apart from making it onto Shark Tank, Luna Magic has also been featured in Oprah Magazine, BuzzFeed, Hip Latina, and HOLA! USA.