Good hygiene is very tempting to the opposite sex. For this reason, men are now paying more attention to their hygiene and appearance. Steve and Josh King, a fate and son duo, started to promote this idea with the help of their startup company, Manscaped in 2014.
Manscaped has experienced a tremendous amount of success after appearing on Shark Tank in 2019. They managed to get a deal on Shark Tank with Mark Cuban and Lori Grenier. According to Yahoo, the company has reached a net worth of $1 billion. As of 2023, the net worth of Manscaped is $750 million to $1 billion.
In this article, we are going to discuss Manscaped before and after the Shark Tank episode along with its current status and net worth. So, let’s start without further ado.
Manscaped was founded in 2014 by Josh King and Steve King. The company got a lot of media attention at the beginning of its journey. The company tried to make people aware of a serious issue encountered by men all over the world.
Magazines like GQ and Playboy also noticed them. Currently, the company has become very successful. But nobody would believe that the founders started the company by investing only $400,000. They are still expecting to reach new horizons and meet new expectations in future.
Establishment of Manscaped
It is very important to care about your hygiene. But there are hardly any products to take care of hygiene, particularly for men.
Over the past decade, self-care products were meant to be mainly soaps and face washes. The market also focuses on female customers. That is why men’s products are often overlooked.
The founders identified this void in the market and that is why he wanted to launch a business that would sell only high-quality grooming products for men.
That is why they set up the company Manscaped in 2014 which is entirely a men’s grooming company that provides a wide range of products for the grooming needs of men like electric trimmers, razors, and many more personal hygiene products.
Manscaped also has a product for clearing body hair from any part of the body. You will find the product on Amazon and the official website of the company.
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What are the features of the products of Manscaped?
The features of the products of Manscaped are as follows:
- The company sells products for personal hygiene for the grooming under the belt for men.
- The company has launched a product that is used for removing unwanted hair from any part of the body of men for the perfect finish.
- The company has included a wide range of products in their product line such as conditioner, lotion, razor, deodorant, and many more.
- The website of the company tells us some interesting facts about the hygiene of men.
- The products of the company are sold individually as well as in a package.
- The company has named their packages as the perfect package and the performance package. The cost of a perfect package is $99.99 and the cost of a performance package is $119.99.
- The company also sells Lawn Mower 4.0 which is available at $84.99 and Weed Whacker which is available at $29.99.
- The company has introduced a wide range of products in the conditioner or lotion category. Some of them are crop reviver, crop cleanser, and crop preserver. Each of these three products is free of paraben, dye and cruelty.
- All the customers have fallen in love with the products. They have given positive reviews and ratings regarding the products of Manscaped.
- The company offers special offers on products too but they are for a limited time.
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What occurred to Manscaped on Shark Tank?
Steve King and his son Josh King represented Manscaped on Shark Tank season 10 episode 4. They went to the Shark Tank intending to get an investment of $, 500,000 in exchange for a 7% equity stake in their business. At that time the Manscaped valuation was more than $7 million which created a hindrance for the founders to deal with the investors along with the guest Shark Charles Barkley. So, they were worried whether they would be able to impress anyone on Shark Tank.
The Kings did not conceal the offbeat nature of their company and the sharks could not control their laughter after hearing this. Nevertheless, they came to know that the percentage of men taking grooming seriously is growing. That is the sharks’ interest grew.
The sharks got more tempted when the founders declared that the business brought him $1.5 million in 2017. Steve says that they had found it at first very difficult to find out how to connect with their audience. Initially, they took up a funny strategy to get the word out.
Fortunately, the strategy worked. They sold out in 13 days upon reentering the market with the number of videos that got 48 million views. The production cost of every kit was $12 and they started to sell it at $51. Nevertheless, all their funds were being eaten up by their inventory and their advertising costs.
When the Manscaped founders pitched their product, Kevin O’Leary did not like the business model. The guest shark Charles Barkley did not have any faith in manscaping. That is why they both went out of the show.
Robert Herjavec showed his interest in making an investment of $500,000 in exchange for a 35% share of the company. When Lori Grenier came to know that women like to give this product as a gift, she showed her interest in investing in the company.
Mark Cuban said that he was ready to invest $500,000 only if Grenier would put the company Manscaped on QVC but they wanted a 25% share of the business from the founders. The founders of Manscaped asked the sharks whether they were ready to go down to 20% but Mark Cuban assured them that their sales would more than compensate for the equity cost. The founders accepted the deal at last.
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Unfortunately the deal between the founders of Manscaped and the Shark Tank investors Mark Cuban and Lori Grenier finally never went through. However, after appearing on live TV, Manscaped became one of the most popular companies in its category.
Manscaped sales and profits grew incredibly after the Manscaped Shark Tank episode.
Though the deal did not work out, they proved that they did not require an investor. As soon as the episode aired, Mamscaped became a global company and popular all over the universe.
Now the company has a business combination agreement with Bright Light Venture Capital. This is a venture capital company which means that the company has brought up millions in investments.
Manscaped has also spent a lot of money on marketing campaigns along with celebrity endorsements like UFC fighter Conor MacGregor who is a brand ambassador. With the help of this kind of investment, the company has experienced outstanding results. A lot of media outlets along with magazines, TV shows and podcasts feature them now.
The company launched an upgraded version of their product– an Ultra Premium Collection with unique features and it was supposed to give more powerful performance. The company also introduced various care products like lip balm, deodorant, etc.
In the previous year, the company had signed a deal with Pete Davidson from Saturday Night Live as their primary investor and spokesperson. As of 2022, the annual revenue of the company is nearly more than $500 million whereas in 2021 their annual revenue was $400 million.
There is a Manscaped community where a lot of people share their stories and experiences in the comment section of the posts. The community activity is mostly encouraged by the blog run by Mancaped on its official website.
The company covers a lot of tools on the blogs like personal grooming tips, product reviews, and interviews with interesting people.
The company has a store on their official website so that you may buy their products from there and track their progress. The company also has made retail partnerships with a lot of stores like Best Buy, Target, Walgreens, and many more. You may also buy their products from Amazon too.
People have given a pool of positive reviews and ratings on the products. A lot of people have praised their quality and efficiency. That is why it can be said that the company deserved the success that it earned over the years.
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Is Manscaped still in business?
Though the Shark Tank deal did not work out for the company, the company was listed among the most successful businesses to be represented on Shark Tank.
The company keeps promoting widely for below-the-belt care. However, it has expanded its product line to almost every area of men’s grooming. So you will get every product here from products for beards to nails and even nose hair trimmers.
You will be able to find the products of the company to be sold on Amazon and major retailers like Target, Macy’s, Walgreens, Best Buy, Men’s Wearhouse, and Wal-Mart. A lot of popular celebrities have assisted in the promotion of Manscaped.
In 2022, “Saturday Night Live” star Pete Davidson was declared as a new spokesperson for Manscaped, with a lot of their resulting commercial partnerships that earned millions of views. Recently, UFC fighter Derrick Lewis starred in an advertisement for the Manscaped Performance Package that poked fun at a notorious post-fight interview where he took off his pants and explained, “My balls were hot.”
Besides the partnership with the UFC, Manscaped is also an official sponsor of the San Francisco 49ers, Sacramento State University, the American Ultimate Disc League, the Ball State Cardinals and many more. Manscaped is expected to cross $500 million in sales by the end of 2023, with an estimated net worth of $750 million to $1 billion.
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Who are the competitors of Manscaped?
Some of the major competitors of Manscaped are as follows:
- Happy Brush
- Organic Essentials
A lot of people underestimate the significance of grooming their manhood area and do not think about using any specific tool to do it.
Manscaped certainly changed the game by creating a revolutionary product. It made manscaping easier and more enjoyable than before.
Steve Kings and Josh Kings managed to get the deal at Shark Tank but unfortunately, they failed to finalize it. But nothing could stop them from becoming a global brand.
Now, Manscaped is prospering and has developed a successful online store so that customers can easily buy their products without any hassle. The company mainly focuses on offering quality products at reasonable prices. They are also trying to educate consumers about how essential it is for men to take care of their intimate areas.
Other investors also support them and they have managed to secure a lot of partnerships. Manscaped is continuously innovating and bringing outstanding products to the market with the help of these investments and partnerships.
Manscaped has managed to earn $500 million in revenue. It shows that they are moving on their way smoothly and going to become a global manscaping sensation soon.
Manscape is prospering day by day. The company can thrive more with the right approach to marketing, product development, and consumer support. We are now eagerly waiting for something new to happen with Manscaped.
How much is Manscaped worth now?
Currently, Manscaped is valued nearly at $1 billion. After appearing on Shark Tank in 2019, the company has experienced outstanding growth. In its first year after emerging on the show, Manscaped saw massive growth in sales and website traffic.
The business has continued to thrive rapidly ever since then and it brought in more than $ 500 million in earnings every year. The products of Manscaped are available all over the world and you may also find them at major retailers and online.
Is Manscaped making money?
Since their arrival on Shark Tank in 2019, Manscaped has attained tremendous success. In the years since then, they have thrived to become a leader in the men’s grooming industry. They sell their products in various retailers in the country.
Besides selling products directly through their website and at retail locations all over the world, Manscaped also has made partnerships with major retailers like Walgreens and Amazon. This combination of direct sales and retail partnerships has enabled them to reach a wide audience of potential consumers while having a remarkable effect on the bottom line.
Manscaped makes $500,000,000 every year. That is why you may say with a guarantee that they are doing very well.
Who owns the company Manscaped from Shark Tank?
The company, Manscaped, was founded by Steve and Josh King in 2014. After the success of their Shark Tank arrival, Steve and Josh King continue to own and operate Manscaped to date.
While they were not able to complete the deal with the Sharks, Steve and Josh admit the effect of the show on the visibility of Manscaped. This allowed them to increase their sales for their products resulting in a tremendous success story for them.
Since then, Manscaped has experienced huge development with multiple product offerings that include trimmers, razors, blades, colognes and more. The company has also teamed up with some of the largest names in fashion.